Access division is a ‘jewel’ for Manitou says Giroux

The access equipment division will play an important role in Manitou's goal of almost doubling revenues to €2 billion within five years, said the company's president and CEO Jean-Christophe Giroux at the company's ‘Festival' event in Spain.

Mr Giroux said "Access is definitely part of this, and maybe will play an even bigger part of it. We strongly believe that we have a jewel here in the access business." It is understood that Manitou has set a goal of tripling access sales in the five year period.

His comments came as Manitou held its largest ever customer/dealer event, hosting more than 1200 delegates over several days at the southern Spanish resort of Punta Umbria.

Mr Giroux said Manitou believed the overall €2 billion target was achievable because most of its sales were replacement and that this market would accelerate; that rental companies and others would buy more machines when markets improved - "we believe that in three or four years the ‘anticipation' market will be back" -and that Manitou would be successful in expanding the range of applications and customers for its machines.

He added that sales in emerging markets - where sales of telehandlers and aerial platforms are still at relatively low levels - would continue to grow; "Emerging markets are by and large doubling every three years." He said acquisitions could also add a few hundred million of sales into the mix.

Manitou is not yet willing to commit to establishing production sites to serve markets such as Brazil or China, but Mr Giroux said that time would come; "It will happen, one day, but at the right time. China, India, Indonesia, Brazil are still in their infancy for what we do."

Manitou is nevertheless investing in these developing markets. Its current priority is to expand its Brazilian operations, with plans to boost its local team, and a regional hub in the Middle East is also being opened soon.

The centrepiece of the Festival event was a 600 metre Festival Lane where the company showcased its machines, new technology and services to customers and dealers from all over the world. Mr Giroux said the festival was an opportunity for the Manitou family to get together after three years of crisis; "We did see some white water rapids during 2009/10...but we avoided the big rocks."

Speaking about the acquisition of Gehl, he said that there had been "only two problems - the timing and the price. It caused us a real problem." However, he said that the business was now paying back. Sales at the Compact Equipment business - which covers the Gehl and Mustang operations - increased by 50% last year and are forecast to grow by around 30% this year.

The company also used the event to present some new technology and ‘concept' machines to the guests, including a telehandler, articulated boom and industrial forklift. Manitou was at pains to say that these machines were not prototypes, but that some of the new technology envisaged in the machines would be used by 2015.

New technology included regenerative systems - using power generated when booms and masts are retracted - will be used to increase efficiencies, while RFID tags might be used to automatically identify attachments when they are connected.

Getting its launch as early as next year, however, will be the new Stop & Go system that will automatically shut down the engine when it has been idling for a certain period. See our separate story.