The acquisition of Crane supports our diversification strategy and adds to our existing replacement parts business. We expect Crane's distribution network to accelerate our penetration into international markets, which is a key part of our growth strategy.
Austin, TX (PRWEB) October 14, 2008
Manitex announced on Tuesday, October 14, 2008, that Phil Fridley is now part of the Manitex executive team as their new Director of Operations. Fridley was formerly the Plant Manager and North American Director of Quality, Health, Safety & Environment at global giant GKN Sinter Metals, serving commercial, consumer and automotive industries.
Fridley offers nearly 30 years of experience in streamlining management for other leading companies, including Grove Worldwide and AAI Corporation. "We are thrilled to have Phil as part of Manitex. His experience and knowledge will add tremendously to our process," says David Langevin, CEO of Manitex International.
Hiring a new Director of Operations is part of Manitex's response to the growing demand of its products in national and international markets. Fridley will head a number of initiatives internally and externally to further expand the reach of Manitex International and its subsidiaries.
Manitex International is steadily increasing its footprint in the market, having gained over 100% in gross revenue in 2007 over 2006, and is actively implementing measures to continue the trend.
Earlier this month, Manitex announced the acquisition of Crane and Machinery, Inc., and Schaeff, Inc. Andrew Rooke, President and Chief Operating Officer of Manitex, commented, "The acquisition of Crane supports our diversification strategy and adds to our existing replacement parts business. We expect Crane's distribution network to accelerate our penetration into international markets, which is a key part of our growth strategy."
According to executives in the company, Fridley will bring together the new divisions in the company while streamlining operational processes, focusing on expanding capabilities, quality control and development.
About Manitex International, Inc.:
Manitex International, Corp. is a leading provider of engineered lifting solutions including boom truck cranes, rough terrain forklifts and special mission oriented vehicles. Manitex subsidiary manufactures and markets a comprehensive line of boom trucks and sign cranes. The boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges and commercial construction. The Manitex Liftking subsidiary, which includes the Noble forklift product line, manufactures and sells a complete line of rough terrain forklifts and special mission oriented vehicles, as well as other specialized carriers, heavy material handling transporters and steel mill equipment. Manitex Liftking's rough terrain forklifts are used in both commercial and military applications.