Bridgeview, Ill.-based Manitex International last week announced that it has been notified by Comerica Bank, that it was approved for a renewal of its credit facility effective April 28.
The maturity date on the current credit facility for U.S. and Canadian revolving lines of credit, as well as the term loan, will be extended to April 1, 2012 from April 1, 2010. The amendment, which is now being finalized, will also contain customary financial covenants and default provisions. Additional information on the completed amendment will be available on the Form 8K, which will be filed at a later date and available at www.sec.gov.
“The amendment to our current credit facility underscores Comerica’s confidence in our business and provides greater financial flexibility for us to continue to pursue our growth strategy,” said Andrew Rooke, chief operating officer. “We have always maintained excellent relationships with our lenders, and continue to proactively manage our balance sheet for the benefit of our shareholders.”
Manitex International is a leading provider of engineered lifting solutions including cranes, rough terrain forklifts, indoor electric forklifts and special mission oriented vehicles, including parts support. The Manitex subsidiary manufactures and markets a comprehensive line of boom trucks and sign cranes through a national and international dealership network. Its boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges, and commercial construction.