Manitex International Announces First Deliveries Of New Articulated Truck Mounted Crane From PM Group
Portfolio Pulse from Benzinga Newsdesk
Manitex International, Inc. (NASDAQ:MNTX) announced the first deliveries of the PM 70.5 SP articulated truck mounted crane, a new addition to PM Group's 65 series. The crane, designed for multiple industries, has been launched in Europe with plans for North American availability next year. Five units were delivered in Italy in Q1 2024, with expectations for growing sales momentum. The introduction of the PM 70.5 SP aligns with Manitex's strategy to expand PM Group product distribution in North America, aiming to increase market penetration.
April 04, 2024 | 12:19 pm
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Manitex International announced the first deliveries of the PM 70.5 SP crane, aiming to expand its market in North America and expecting sales momentum to build throughout the year.
The announcement of the first deliveries of the PM 70.5 SP crane, especially in a strategic market like Europe, and plans for expansion into North America, indicate a positive outlook for Manitex's market penetration and revenue growth. The successful delivery of five units in Italy and the anticipation of growing sales momentum suggest a positive short-term impact on MNTX's stock price, as investors may view these developments as indicators of future growth and expansion.
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