Veri-Tek International, Corp. Announces International Distribution Agreement
30 April 2008 - 4:10AM
PR Newswire (US)
Agreement Marks Veri-Tek's Entrance Into Key Global Growth Markets
BRIDGEVIEW, Ill., April 29 /PRNewswire-FirstCall/ -- 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 its Manitex subsidiary has reached agreement with a
well-established heavy equipment distributor in the Middle East,
thus, launching Veri-Tek's strategic entrance into international
growth markets. Management anticipates receiving initial stocking
orders for its 50- and 30-ton Manitex boomtrucks to this
distributor, with deliveries and financial contributions beginning
in the second half of 2008. Scott Rolston, General Manager of
Veri-Tek's Manitex subsidiary, commented, "We continue to pursue
opportunities to expand to key international markets that we
believe will drive our future growth. This new agreement will
enable us to introduce our higher tonnage boom trucks to a top
distributor in the Middle East and gain access to a new, growing
customer base. We view this as an important first step towards
achieving global product acceptance and market penetration and it
is our intention to continue to pursue such agreements with
additional international distributorships. We look forward to
serving an international customer base with our high quality and
competitively priced products." 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 DATASOURCE:
Veri-Tek International, Corp. CONTACT: David Langevin, Chairman and
Chief Executive Officer of Veri-Tek International, Corp.,
+1-708-237-2060, ; or Investors, Peter Seltzberg, , or Brett Maas,
+1-646-415-8972, both of Hayden Communications for Veri-Tek
International, Corp. Web site: http://www.veri-tek.com/
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