Manitex International, Inc. Signs Strategic Dealership Agreement with Bruckner’s Truck & Equipment
Manitex International, Inc. (NASDAQ: NASDAQ:), a leading provider of truck cranes and specialized industrial equipment, has announced a dealership agreement with Bruckner’s Truck & Equipment to sell and support Manitex equipment in select North American markets. This collaboration with Bruckner’s, a well-established player in the on-highway market, is expected to strengthen Manitex's distribution network and expand its reach in key regions.
The partnership with Bruckner’s will allow Manitex to offer its PM articulating cranes through Bruckner’s 40 support centers across eight states. Michael Coffey, CEO of Manitex International, expressed confidence in the alliance, highlighting Bruckner’s industry reputation and expertise in vocational truck applications as key factors driving this strategic move.
Brian Bruckner, President of Bruckner Truck & Equipment, also praised Manitex cranes for their quality and innovation, anticipating positive outcomes for their customer base in the Southwest. As part of its growth strategy, Manitex is actively seeking additional dealership appointments to tap into under-served markets in North America.
Manitex International's focus on expanding its distribution capabilities in North America is evident in this dealership agreement, which marks a significant milestone in the company's growth journey. The company's recent Annual Meeting of Stockholders and strong Q1 performance further reinforce its commitment to excellence and innovation.
In terms of financial metrics, Manitex International boasts a market capitalization of approximately $84.04 million and a low P/E ratio of 7.79, suggesting potential undervaluation. The company's profitability and liquidity position, along with positive performance trends, indicate a promising outlook for investors. Despite recent price declines, Manitex's long-term growth prospects through dealership agreements and new product launches make it an intriguing investment opportunity.
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