Manitou launches massive investment plan
Manitou plans to invest US$80 million in its two North American manufacturing facilities in Yankton, and Madison, South Dakota.
This investment is to be spent on the extension of both sites, an innovation drive and the development of new ranges of equipment. Through this program, the group reasserts its strong ambitions to achieve the targets set in its strategic plan New Horizons 2025.
Activity at a historic level
With an order book standing at an all-time high of over 3 billion euros, 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 where articulated loaders and telehandlers are built and Madison, where skid steers and track loaders are built. It will subsequently fund the modernization of industrial equipment.
“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. Consequently, we expect to increase our output on these sites by more than 150% by 2026. These projects also fall within our low-carbon transition, through the development of new electric ranges,” says Elisabeth Ausimour, Product division president
Extensions and new hires
The Yankton facility will see its surface area increase by more than 65,000 square feet, compared with 200,000 square feet, while more than 80,000 square feet will be added to the 325,000 square-foot) of production space at Madison. The equipment upgrading relates to mechanical welding and assembly, with the notable additions of new welding robots and laser cutting machines.
To support its development, the group intends to hire 50 people on each of these sites between now and 2023, in job categories such as welders, assemblers, maintenance technicians and purchasers. Manitou Group 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 United States.
R&D investment focused on renewing product ranges
In parallel with the industrial investment which will account for approximately US$57 million, nearly US$23 million will be dedicated to research and development. The group’s major R&D projects include accelerating the renewal of product ranges and designing electric compact loaders and telehandlers between now and 2026 at these two North American sites.
“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,” says Franck Buisard, vice president, Product Unit Compact and Articulated Loaders and managing director of Manitou Equipment America.
Included within the US$530 million global investment envelope in the New Horizons 2025 strategic plan, these projects will launch in the second quarter of 2022 and will continue through 2026.
Short video of the investment plan
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