Veri-Tek's Manitex Boom Truck Product Line Joins Caterpillar's Allied Vendor Program
Distribution Agreement Highlights Strategic Value of Noble Forklift Acquisition
BRIDGEVIEW, Ill., March 25 -- Veri-Tek International, Corp. (AMEX:VCC) , a leading provider of engineered lifting solutions including boom truck cranes, rough terrain forklifts and special mission oriented vehicles, today announced that select models within the company's Manitex product line would join the Manitex Liftking and Noble product lines as part of The Cat Rental Stores Allied Vendor Program, in Europe, North and South America.
"The main goal of the Allied Vendor Program is to provide our customers with a uniform product offering at each of The Cat Rental Stores," said Jim Grasse, Allied Products Program Manager for Caterpillar Inc. "Each of the Allied Vendors has demonstrated a commitment to provide the highest overall value to our dealers and, most importantly, to Cat Rental Store customers. We welcome the Manitex product lines as a 2008 Allied Vendor."
"With our acquisition of the Noble forklift product line in July 2007, which was originally designed and marketed by Caterpillar, we acquired a product line that was already part of the Caterpillar Allied Vendor Program. Caterpillar's agreement to add Manitex into its European and North and South American Allied Vendor Program supports our strategy in several important ways. It provides us with a robust new distribution opportunity for select models of our Manitex products, which is a key synergy that we identified and hoped to achieve when we acquired Noble. While being a part of the program does not guarantee distribution throughout the global Cat Rental Stores, we are excited about the potential new business opportunities afforded by this agreement and hope our performance will allow us to expand our presence into the remaining regions covered by The Cat rental Stores in the future. We are confident that our Manitex products, along with our current Noble and Manitex Liftking products will continue to provide the value and quality that The Cat Rental Stores expect from their Allied Vendors," said Andrew Rooke, Veri-Tek's Chief Operating Officer.
About Veri-Tek International, Corp.
Veri-Tek International, Corp. is a leading provider of engineered lifting solutions including boom truck cranes, rough terrain forklifts and special mission oriented vehicles. Our Manitex subsidiary manufactures and markets a comprehensive line of boom trucks and sign cranes. Our boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges, and commercial construction. The Manitex Liftking subsidiary, which includes the Noble forklift product line, manufactures and sells a complete line of rough terrain forklifts and special mission oriented vehicles, as well as other specialized carriers, heavy material handling transporters and steel mill equipment. Manitex Liftking's rough terrain forklifts are used in both commercial and military applications.
Forward-Looking Statement
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company's expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management's goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "will," "should," "could," and similar expressions. . Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward- looking statements. These factors and additional information are discussed in the Company's filings with the Securities and Exchange Commission and statements in this release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Company Contact Veri-Tek International, Corp. Hayden Communications David Langevin Peter Seltzberg or Brett Maas Chairman and Chief Executive Officer Investor Relations (708) 237-2060 (646) 415-8972 djlangevin@manitex.com peter@haydenir.com