Production and Operational Excellence Veteran to Lead North American Manufacturing

BRIDGEVIEW, IL / ACCESSWIRE / October 17, 2022 / Manitex International, Inc. (NASDAQ:MNTX) ("Manitex" or the "Company"), a leading international provider of truck cranes, specialized industrial equipment, and construction equipment rental solutions, today announces that Richard Mills has been named President, Manitex North America. He will assume oversight of all North American manufacturing and new product distribution operations for Manitex.

Mills comes to Manitex with 30 years of experience in manufacturing and executive leadership with an emphasis in the OEM specialty equipment and vocational vehicle sectors. He is a degreed engineer with continued education in production engineering, lean manufacturing and six sigma. Prior to joining Manitex, Mills held the role of vice president and division COO of the specialty rail and utility vehicle division at Progress Rail (Caterpillar). He also held key leadership positions at JCB, Trinity and Heil, manufacturing heavy construction equipment and specialty highway vocational trucks.

Michael Coffey, Manitex's Chief Executive Officer commented, "The re-alignment of our North American operations is correlated with the changes we had already established in Italy, whereas we are bringing the regional groups under one leader and then uniting our focus as a company toward a more unified purpose, common strategy and increased levels of collaboration. We are focused on improving operational excellence and customer support, while improving production velocities, profitability and cashflows. Richard's experience is well suited to help us achieve these goals.

"The organizational changes we are making are correlated with the demand-driven backlog that we continue to experience, and support our global productivity and margin objectives. We continue to allocate the resources required for the sale, service, and support of our entire global product portfolio, and we anticipate Richard will be instrumental in helping us achieve the proliferation of our knuckleboom cranes, industrial cranes, and aerial work platforms throughout North America," concluded Coffey.

About Manitex International, Inc.

Manitex International is a leading provider of mobile truck cranes, industrial lifting solutions, aerial work platforms, construction equipment and rental solutions that serve general construction, crane companies, and heavy industry. The company engineers and manufactures its products in North America and Europe, distributing through independent dealers worldwide. Our brands include Manitex, PM, MAC, Oil & Steel, Valla, and Rabern Rentals.

Forward-Looking Statements

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company's expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management's goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "will," "should," "could," and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. These factors and additional information are discussed in the Company's filings with the Securities and Exchange Commission and statements in this release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Company Contact

CoreIR
Peter Seltzberg, Capital Markets and Corporate Advisory
Investor Relations
516-419-9915

SOURCE: Manitex International, Inc.