Home \ International \ Manitex International, Inc. announces approximately $5.5 million in debt reduction
Manitex International, Inc. announces approximately $5.5 million in debt reduction
28/07/2020
Pubblicato da Redazione
Manitex International, Inc. announced that it has reduced its European bank debt by approximately 4.96M € (Euros), effective July 20, 2020.
Manitex International, Inc., international provider of cranes and specialized industrial equipment, announced that it has reduced its European bank debt by approximately 4.96M € (Euros), effective July 20, 2020.
Improvements in working capital, via accelerated inventory turns and other operating cash flow that the company has generated since reporting its first quarter results has enabled the debt reduction and balance sheet improvement. The European bank debt was retired at a 15% discount to its face value.
Steve Filipov, CEO of Manitex International commented: “We remain committed to lowering our debt and debt servicing costs, by using every resource possible to strengthen our financial position in a challenging business environment. We have been focused on generating cash from operations over the past few quarters, and this has put us in a good position to reduce some of our European debt, at a discount. Given the continued uncertainty with our end markets, we are going to continue to focus on the things we can control, with aggressive cost management and working capital reductions. This focus will allow us to maintain good liquidity and balance sheet improvement”.
Manitex International, Inc. is a leading worldwide provider of highly engineered mobile cranes (truck mounted straight-mast and knuckle boom cranes, industrial cranes, rough terrain cranes and railroad cranes), truck mounted aerial work platforms and specialized industrial equipment. The products, which are manufactured in facilities located in the USA and Europe, are targeted to selected niche markets where their unique designs and engineering excellence fill the needs of our customers and provide a competitive advantage. The company has consistently added to the portfolio of branded products and equipment both through internal development and focused acquisitions to diversify and expand sales and profit base while remaining committed to his niche market strategy. Brands include Manitex, PM, MAC, PM-Tadano, Oil & Steel, Badger, and Valla.
![](/storage/2024/06/pm-oilsteel-logo.jpg)
Ultime notizie di PM Oil&Steel
![PM: 62 years of mechanical precision](/storage/2021/11/pm-62-years-of-mechanical-precision-61829599b8b33.jpeg)
Lifting
25/10/2021
PM: 62 years of mechanical precision
PM, the Italian producer of hydraulic cranes mounted on truc...
![Manitex Valla launches the new V 110 R – 11 ton electric mobile crane](/storage/old/nc6001397/16132969935581.jpeg)
15/02/2021
Manitex Valla launches the new V 110 R – 11 ton electric mobile crane
Manitex Valla has launched this month the all new V 110 R El...
![Oil & Steel has appointed Roscini Veicoli Industriali "Best Italy Dealer 2020"](/storage/old/nc6001360/1608542179307.jpeg)
23/12/2020
Oil & Steel has appointed Roscini Veicoli Industriali "Best Italy Dealer 2020"
Oil & Steel, through its commercial director for Italy, Fulv...
![New Oil & Steel dealer GAM](/storage/old/nc6001108/15791057229376.jpeg)
22/01/2020
New Oil & Steel dealer GAM
Oil & Steel has appointed GAM as the new Oil & Steel distrib...
![PM 150 SP excels in building and construction applications in Finland](/storage/old/nc6001075/15752765846156.jpeg)
06/12/2019
PM 150 SP excels in building and construction applications in Finland
PM 150 SP excels in building and construction applications i...
![Oil&Steel at Apex 2017](/storage/old/nc6000139/14920059539.jpeg)
18/04/2017
Oil&Steel at Apex 2017
On the occasion of the 9th edition of APEX in Amsterdam, Oil...
Altri International
![Liebherr's mobile crane lifts construction crane over treetops](/storage/2024/06/liebherrs-mobile-crane-lifts-construction-crane-over-treetops-66813cf080556.jpg)
International
16/07/2024
Liebherr's mobile crane lifts construction crane over treetops
LTM 1130-5.1 lifts Liebherr 28 K construction crane out of s...
![Kohler Energy Publishes a Market-First Environmental Declaration for a Mission-Critical Generating Set](/storage/2024/06/kohler-energy-publishes-a-market-first-environmental-declaration-for-a-mission-critical-generating-set-66813adfe1ca1.jpg)
International
16/07/2024
Kohler Energy Publishes a Market-First Environmental Declaration for a Mission-Critical Generating Set
Independently verified document provides complete visibility...
![Two Grove cranes from Palumbo Heavy Lift team up for spectacular tandem lifts in Naples](/storage/2024/06/two-grove-cranes-from-palumbo-heavy-lift-team-up-for-spectacular-tandem-lifts-in-naples-668133f2109e4.jpg)
International
15/07/2024
Two Grove cranes from Palumbo Heavy Lift team up for spectacular tandem lifts in Naples
Palumbo Heavy Lift sent its new Grove GMK5250XL-1 plus its G...
![Liebherr MK 140 Secures Saint-Maurice Cathedral](/storage/2024/06/liebherr-mk-140-secures-saint-maurice-cathedral-668115418ed35.jpg)
International
12/07/2024
Liebherr MK 140 Secures Saint-Maurice Cathedral
A Liebherr MK 140 mobile construction crane was instrumental...
![New Tadano AC 5.220-1 all terrain crane for Safar](/storage/2024/07/new-tadano-ac-5220-1-all-terrain-crane-for-safar-6682588d6e0ed.jpg)
International
11/07/2024
New Tadano AC 5.220-1 all terrain crane for Safar
Safar ordered the AC 5.220-1 with a heavy-duty short jib and...
![Liebherr's XPower wheel loaders are ideal for handling sand and gravel](/storage/2024/06/liebherrs-xpower-wheel-loaders-are-ideal-for-handling-sand-and-gravel-668115fe30a33.jpg)
International
11/07/2024
Liebherr's XPower wheel loaders are ideal for handling sand and gravel
Liebherr's XPower wheel loaders and their smart machine conc...