The Manitowoc Company, Inc. (NYSE: MTW) (the "Company" or "Manitowoc"), announced today that its wholly-owned subsidiary, MGX Equipment Services, LLC ("MGX"), has completed a strategic dealer agreement with Hiab. The agreement expands the MGX and Manitowoc direct-to-customer footprint by adding distribution of HIAB loader cranes with aftermarket parts and service support for a diverse range of end market customers. MGX will now serve Hiab customers in the following U.S. states: Colorado, Delaware, Iowa, Maryland, Minnesota, Montana, Nebraska, New Jersey, North Dakota, South Dakota, Virginia, Wyoming, and Utah.
"This agreement accelerates the growth of MGX Manitowoc in the U.S. By expanding our direct-to-customer reach, we can deliver more value through faster response times, stronger service capability, and deeper customer engagement. Together with Hiab, we are strengthening our position in key markets and creating new opportunities to scale across a broader range of lifting solutions," commented Les L. Middleton, Executive Vice President, Americas and EU Mobile Cranes, The Manitowoc Company, Inc. President, MGX Equipment Services, LLC.
"The partnership with MGX is an important milestone in our strategy to grow in the attractive U.S. market. Their scale and industry expertise significantly enhances our coverage in the U.S. With MGX, we can offer premium sales and service support for our HIAB loader cranes in many previously insufficiently covered key regions. This brings excellent growth opportunities for Hiab, MGX, and our customers," said Pauliina Kunvik, Senior Vice President Sales and Services, North America at Hiab.
About The Manitowoc Company, Inc.
The Manitowoc Company, Inc. ("Manitowoc" or the "Company") was founded in 1902, and is headquartered in Milwaukee, Wisconsin, United States. Manitowoc through its wholly-owned subsidiaries provides high quality, customer-focused lifting products and services world-wide through its Grove, Manitowoc, National Crane, Potain, Shuttlelift, and Upfits by Aspen Equipment brands and its support-focused subsidiary MGX Equipment Services. For more information, visit www.manitowoc.com.
About Hiab
Hiab (Nasdaq Helsinki: HIAB) is a leading provider of smart and sustainable on road load-handling solutions, committed to delivering the best customer experience every day with the most engaged people and partners. Globally, Hiab is represented on every continent through its extensive network of 3,000 own and partner sales and service locations, enabling delivery to over 100 countries. The company's continuing operations sales in 2024 totalled approximately EUR 1.6 billion and it employs over 4,000 people. www.hiabgroup.com
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Contacts:
For more information:
Ion Warner
Senior Vice President
Marketing and Investor Relations
ion.warner@manitowoc.com
+1 414-760-4805
