Investment plan

Massive investment plan in the United States

ANCENIS, France, February 22, 2022 /PRNewswire/ — The Manitou group, the world leader in material handling, motorized access and earthmoving, today announces a 70 million euro investment project ($80 million) at its two North American manufacturing facilities in Yankton and Madison, South Dakota. This investment will be devoted to the extension of the two sites, to a dynamic of innovation and to the development of new ranges. Through this program, the group reaffirms its strong ambitions to achieve the objectives set in its strategic plan New Horizons 2025.

Activity at a historic level
With an order book at a record level of more than 3 billion euros, the Manitou group is investing in a period of sustainable growth. This 70 million euros will initially finance the extension of the production tool of Yankton (articulated loaders and telehandlers) and Madison (skid steers and crawler loaders), and then finance the modernization of industrial equipment. Elisabeth Ausimour, President of the Products Division, explains: “We have extremely promising prospects in our markets, which fully justifies these investments. These new developments will enable us to absorb peaks in demand, constantly increase our production capacities and increase the safety of our workers, in particular by optimizing flow management. , we plan to increase our production on these sites by more than 150% by 2026. These projects are also part of our low-carbon transition, through the development of new electric ranges.

Find here a short video which presents this investment plan.

Extensions and new hires
the Yankton will see its surface increase by more than 6,000 m² (65,000 ft²), compared to 18,500 m² today (200,000 ft²), while more than 7,500 m² (80,000 ft²) will be added to the 30,000 m² ( 325,000 ft²) of production space at Madison. The modernization of equipment concerns mechanized welding and assembly, with in particular the addition of new welding robots and laser cutting machines. To support its development, the group intends to hire 50 people at each of these sites by 2023, in job categories such as welders, fitters, maintenance technicians and buyers. The Manitou group will rely on an attractive employer brand and particularly advantageous social benefits to attract skills in a state with one of the lowest unemployment rates in the world. United States.

R&D investments focused on renewing product ranges
In parallel with the industrial investment which will represent around €50 million ($57 million), nearly 20 million euros ($23 million) will be dedicated to research and development. Among the group’s major R&D projects are the acceleration of the renewal of product lines and the design of electric compact loaders and telehandlers by 2026 at these two North American sites. Franck Buisard, VP Product Unit Compact and Articulated Loaders and General Manager of Manitou Equipment America, adds: “This massive investment is a clear indication of the group’s ambition in North America, where there is considerable market potential. The R&D teams are particularly enthusiastic about the idea of ​​working on these highly strategic projects, aligned with the priorities of our CSR roadmap.”

Included in the 460 million euros (US$530 million) global investment envelope in the New Horizons 2025 strategic plan, these projects will be launched in the second quarter of 2022 and will continue until 2026.

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Find the latest news from the group on www.manitou-group.com and on social networks The Manitou group is a world reference in the handling, motorized access and earthmoving sectors. By improving working conditions, safety and performance, our environment remains renewable and sustainable for humanity.

Through its 3 emblematic brands – Manitou, Gehl and Mustang by Manitou – the group develops, manufactures and supplies equipment and services for the construction, agricultural and industrial markets.

By constantly innovating its products & services, the Manitou group constantly creates value to exceed the expectations of its stakeholders.

Always attentive to its customers via its expert network of more than 1,050 dealers, the group remains faithful to its roots by keeping its head office in France. This orientation, which propelled sales to 1.9 billion euros in 2021, informs its talented global team of 4,500 people whose passion constantly drives the group.

PR contact in the United States: Julie Ryer[email protected] – Mobile phone: +1 262 388 4372

PR contact: Franck LETHOREY – [email protected] – Tel: +33 2 40 09 17 56 / +33 7 86 70 85 62 Company information available at: www.manitou-group.com

SOURCE Manitou Group