Manitex International, Inc. Announces $1.8 Million in New Orders for PM

Manitex International, Inc., a leading international provider of cranes and Manitex International and Southwest Productsspecialized industrial equipment, announced that it has received orders for PM branded articulated cranes worth approximately $1.8 million from
customers in Asia. The orders include the PM 8022 and PM 12023 and are expected to be shipped within the next 6-12 months.

Steve Filipov, Chief Executive Officer, commented, “We are excited to announce continued expansion of the order book at PM in 2020. These orders represent additional business from an existing military engineering customer in Asia, and is a follow-on order, which we delivered earlier this year. The other customer is a large national utility provider in Asia, which has now
ordered products from us for a fourth consecutive year. Our Italian facilities have resumed full operating capacity and we expect to start production on these orders within the next 30 days.

We are seeing steady quoting activity for articulating cranes and are on track for a second year of stability and growth at PM.”

Separately, in the second quarter of 2020 Manitex has begun shipments on another $5.4 million international military order for articulated cranes, per an order received and announced, previously in the fourth quarter of 2019.