The forklift manufacturer plans to invest massively in North America to strengthen its two production sites.
| Photo credits: Manitou Group
The announcement dates from yesterday and yet the title still gained a little more than 3% on the stock market in the middle of the afternoon, to 31.70 euros, helped, of course, by the market rebound. Manitou has unveiled a massive investment plan in the United States, relating in particular to the extension of its two production sites based in the State of South Dakota. The total envelope is 70 million euros.
On the program, the expansion of the Yankton site which “ will see its surface increase by more than 6,000 square meters (for a current surface of 18,500 square meters) ” as well as the addition of 7,500 square meters which “ will be added to the existing 30,000 square meters on the Madison site “. Also, the group intends to modernize the industrial equipment which “ concern mechanized welding and assembly with new welding robots and laser cutting machines “. The group also plans to recruit 50 people on each of these sites by 2023 “. Total of these industrial investments: 50 million euros.
20 million euros dedicated to R&D
The rest of the investments (20 million euros) will be dedicated to research and development. ” Among the group’s major R&D projects: acceleration of range renewal, design of compact electric loaders and telescopic handlers by 2026 at these two North American sites “, specifies the group in its press release.
This investment plan is part of ” within the global envelope of 460 million euros (…) of the New Horizons 2025 strategic plan “. Projects ” will begin in the second quarter of 2022 and will run until 2026 “.
The analyst firm Portzamparc adds that ” Manitou plans to increase its local production by 150% by 2026 “. The manufacturer generated 330 million in turnover in the Americas, or 18% of its sales, and analysts are convinced that ” North America (…) represents [toujours] a major growth driver ” for the company.
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