Daily News: February 17, 2012

Comerica Approves $5 Million Facility Expansion for Manitex


Manitex International, Inc., a provider of engineered lifting solutions including boom truck cranes, rough terrain forklifts, container handling equipment and special mission oriented vehicles, announced it was notified by Comerica Bank that it has been approved for an extension of its credit facility from $22.5 million to $27.5 million, effective February 16, 2012. Substantially all other terms of the agreement remain the same, including the expiration date of April 1, 2015.

Andrew Rooke, chief operating officer, commented, “As we previously reported, the strong demand underlying the rise in our backlog has resulted in increasing production at several facilities within our North American operations. This newly increased credit availability will ensure that we have sufficient working capital to sustain these production increases and continue to meet customer demand for our products. Comerica has maintained a clear understanding of our business needs and we appreciate their continued support, as we continue to execute our growth strategy for Manitex International.”

Previously on abfjournal.com:

Manitex Extends, Expands Credit Facilities With Comerica, Friday, July 08, 2011