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Manitou Group — M&A Activity 2010
Apr 19, 2010
1503_iss_2010-04-19_43813301-a520-4413-9ab9-a62b434801c1.pdf
M&A Activity
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FOR IMMEDIATE RELEASE
Public Relations Contact: Francine Shore
Email: [email protected]
Phone: +44 (0)1476 584335, FAX: +44 (0)1476 584 334
Contact Information Genie, a Terex Company
www.genieindustries.com
Contact Information Manitou – Communication Dpt P. Noël-Hudson / D. Cocton Phone: +33 (0)2 40 09 17 56 Email: [email protected] www.manitou.com
Terex AWP, Manitou sign reciprocal supply & marketing agreement
REDMOND, WASH., USA, and ANCENIS, France (April 19, 2010) - Terex Aerial Work Platforms (AWP) and Manitou have announced a reciprocal supply and marketing agreement under which, specified aerial work platform equipment will be supplied to each party, which also will assume responsibility for after-market support.
Terex AWP will manufacture 7.92 m and 9.75 m self-propelled rough terrain diesel scissor lifts for sale by Manitou as the 100 SC and 120 SC. Manitou will primarily use its dealer networks to sell the scissor lift models to end-users.
Manitou will manufacture 5.70 m and 7.90 m self-propelled vertical masts for sale by Terex AWP under its Genie® brand as the GR™-20J and GR™-26J. Terex AWP will primarily focus on marketing the vertical masts through its rental channel.
Initially, the agreement will be implemented in Europe (CE units) with the intention to widen its geographical scope in 2011.
"These vertical mast products are complementary to our range and give us the opportunity to go to market quickly and offer our customers an additional, high quality, product offering. The Genie® and Manitou® brands have proven track records for build quality and reliability, so this is an excellent match on various levels" said Tim Ford, President of Terex AWP.
"Terex and Manitou are both respected and well-known manufacturers on the market. This agreement is making a lot of sense as both companies capitalize on their strengths and build on each other's. It's a pragmatic yet very promising approach, not only for our organizations but also for our business partners and end-customers" commented Jean-Christophe Giroux, Manitou Chief Executive Officer.
About Terex
Terex Corporation is a diversified global manufacturer operating in four business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, and Terex Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, energy, refining, and utility industries. Terex offers a complete line of financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. More information on Terex can be found at www.terex.com.
About Manitou
Manitou, headquartered in Ancenis in the Loire Atlantique department of France, engages in the design, manufacturing and distribution of material handling equipment serving the construction, agriculture and industrial sectors. With its 23 manufacturing and distribution subsidiaries, the MANITOU Group is the global leader in rough terrain equipment (all-wheel-steer loaders and telescopic handlers). The company has a distribution network of approximately 1300 distributors in 120 countries. Its product line also includes aerial work platforms, compact loaders, masted forklift trucks and stackers. Additional information available on www.manitou.com or by contacting [email protected].