NEWS
8
ACT
APRIL 2014
HIGHLIGHTS
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Pooler, GA-basedDozier
Cranewill represent the
Manitex line of industrial
cranes, including the new
15, 20 and 30-ton down
cab cranes andManitex’s
new carry deck crane, the
CD90i.
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Irlequip isManitowoc
Crane Care’s newGrove
dealer for Ireland and
Northern Ireland. Irlequipwill
provide complete after-sales
support – including spare
parts, service and training
– to all Grovemobile crane
customers in the region,
fully supported byManitowoc
Crane Care’s UK team.
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Trail King Industries
celebrates its 40th
anniversary in 2014, an
importantmilestone for the
South Dakota-based company
that had its beginnings as
Western Ag Sales. Over the
past 40 years, Trail King
has proven that virtually no
engineering feat is too large
to handle. Trail King produces
25 different types of trailers
with load capacities up to
1,000,000pounds. Trail King
is supported by a network of
almost 400 dealer locations
across the U.S. and Canada,
in addition to selling its
productsworldwide in South
America, Europe and Asia,
among others.
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Executives fromManitowoc
Cranes and Kobelco Cranes
celebrated the 10th
anniversary of their crane
supply agreement.
RepresentingManitowoc
Craneswas Eric Etchart,
president, and representing
Kobelco Craneswas Akihiko
Tsukamoto, president.
The agreement calls for
Kobelco to supplyManitowoc-
branded crawlers (up to 120
tons) and for them to be sold
worldwide byManitowoc. The
agreement enablesManitowoc
to supply all-terrain cranes to
Kobelco for sale in Japan.
Bay Crane invests
in new equipment
Bay Cranemakes a hefty investment in Grove, Liebherr and Tadano
cranes aswell as Kenworth heavy haul tractors and Goldhofer SPMTs.
BayCranehas announced a
significant investment in
new equipment tobolster its
current fleet, aswell as
support anewbranch facility
located inCarlstadt,NJ.
Twelvenew all-terrain
cranes fromGrove and
Liebherr have been added
to theBayCrane fleet.
Thepurchase includes the
company’s third600-ton
capacityLTM1500.8.
Fourteen additional rough
terrain cranes are tobe
added, all fromTadano, and
toppedby thenew160-ton
capacityGR1600XL, the
largest rough terrain crane
available in theU.S. This
significant purchase from
Tadano reinforces a 25-year
partnershipbetweenBay
Crane andTadanoAmerica
and significantly strengthens
one of the largest Tadano-only
rough terrain crane fleets in
theU.S.More than50percent
of these orders have been
delivered already in2014,
with the remainingdeliveries
anticipatedby the second
quarter of 2014.
BayCrane’s transportation
fleet has been increasedby
eight newheavyhaul tractors
fromKenworth, 32 additional
axle lines ofGoldhofer self-
propelled electronic steered
modular transporters, and
an additional 80 flatbed and
lowed trailers.
“Our significant investment
in equipment, aswell as
the additionofmultiple
operations, project
management and sales
professionals, highlights
our strong commitment
tobothour clients and
our teammembers to
provide thehighest quality
of service, personnel
and equipment in the
region” saidKeithArden,
operationsmanager of the
BayCraneCarlstadt,NJ
facility. “BayCranehas
proven its ability to grow
organically in theNortheast
over the last six years
and the additionof thenew
Carlstadt facility clearly
demonstrates our strong
commitment to growth and
providing thehighest quality
service toour heavy lift,
rental and transportation
customers.”
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Manitex International posts
record results in 2013
Manitex International
reported record financial
results for 2013. In2013net
revenue roseby$39.8million
or 19percent, to a record
$245.1million, compared to
$205.2million in2012. For
the fourthquarter of 2013, net
revenuewas $65.4million,
a16percent year over-year
increase from$56.5million.
Earnings before interest,
taxes, depreciation and
amortization (EBITDA) in
2013were $21.5million (8.8
percent of sales), compared
to$17.9million and8.7
percent in2012, an increase
inEBITDAof 20percent.
For the fourthquarter 2013,
EBITDAwas $6.2millionor
9.5percent of sales, compared
to$4.1million and7.3percent
of sales, an increaseof 52
percent.
DavidLangevin,Manitex
chairman andCEO, said, “We
ended2013on solid financial
footing,with record top- and
bottom-line results.Whilewe
saw some volatility inmarket
demand throughout the
year,we achieved respectable
organic growth and alsohad
solid contributions from the
acquisitionswemade in the
year.We are alsopleased to
report that our backlog in
cranes for the start of 2014 is
up approximately50percent
since year-end, a level that
represents our strongest order
intake inover 18months, and
gives us improvedvisibility for
2014.NorthAmerica remains
ourmost active geographic
market andwe’ve continued
todrive execution in an
environment inwhichwe
are seeingmodest economic
growth.”
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