Manitou invests $80m in its US factories
23 February 2022
Manitou Group is to invest €70 million (US$80 million) in its two North American manufacturing facilities South Dakota, USA.
This investment is to be spent on the extension of its sites in Yankton and Madison as part of an innovation drive, which will also see the development of new equipment ranges related to its €460 million ($530 million) ‘New Horizons 2025’ strategy.
Around €20 million ($23 million) of the investment will be dedicated to the development of electric equipment ranges, including electric compact loaders and telehandlers.
The company said, “With an order book standing at an all-time high of over €3 billion, Manitou Group is investing amid a period of sustainable growth.
“This 70-million-euro plan will initially finance the extension of the production facilities of Yankton (articulated loaders and telehandlers) and Madison (skid steers and track loaders), and subsequently fund the modernization of industrial equipments.”
The money spent on Manitou’s 18,500m2 (200,000 sq ft) Yankton facility will be used to add more than 6,000m2 (65,000 sq ft) of space.
Likewise, the company’s Madison production plant, which currently has an area of 30,000m2 (325,000 sq ft), will also be expanded with an additional 7,500m2 (80,000 sq ft) of production space.
A portion of the investment has also been earmarked to upgrade the mechanical welding and assembly capabilities of both sites - including the addition of new welding robots and laser cutting machines.
Manitou will also recruit around 50 new workers, such as welders, assemblers, maintenance technicians and purchasers, between now and 2023 to support the expanded facilities.
According to the company, it “will draw on an attractive employer brand and particularly advantageous benefits packages to attract skills in a State with one of the lowest unemployment rates in the USA”.
Elisabeth Ausimour, President of the Product division, said, “We have an extremely promising outlook on our markets, which entirely substantiates these investments.
“These new developments will enable us to absorb peaks in demand, permanently increase our production capacities and increase the safety of our workers, in particular by optimizing flow management.”
Franck Buisard, VP Product Unit Compact and Articulated Loaders and Managing Director of Manitou Equipment America, said, “This massive investment is a clear indication of the group’s ambition in North America, where there exists considerable market potential.
“The R&D teams are particularly excited about working on these highly strategic projects, aligned with the priorities in our CSR roadmap.”