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Stock Market & Financial Investment News

News Breaks
February 19, 2013
17:47 EDTTEXTerex establishes 2015 EPS goal of $5.00 per share, $10B in net sales
Also establishes 2015 goal of 15% return on invested capital.
News For TEX From The Last 14 Days
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January 15, 2015
10:59 EDTTEXManitex completes acquisition of PM Group, SpA
Manitex International (MNTX) announced that it has successfully completed its previously announced acquisition of PM Group S.p.A. The purchase price of $91M, which reflects exchange rate changes in effect at the closing, compares to the previously announced price of $107M, and consisted of cash consideration of $21M, assumed non-recourse debt of $60M, and one million shares of Manitex common stock. Financing for the cash portion of the purchase price was provided by Manitex's recently announced new bank credit facilities and the issuance of new convertible subordinated notes to institutional investors. David J. Langevin, Chairman and CEO of Manitex International, stated, "The PM acquisition is expected to be accretive to our net earnings in 2015 and beyond. The addition of PM, together with ASV, our new joint venture with Terex Corporation (TEX), positions Manitex to start 2015 at an annual sales run rate of approximately $500M."

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