Brief: Manitex International Announces Planned Divestiture Of Sabre Unit

Manitex International

05/03/2020 14:35

March 5 (Reuters) - Manitex International Inc  MNTX.O :
    * MANITEX INTERNATIONAL INC - ANNOUNCES PLANNED DIVESTITURE
OF
SABRE UNIT
    * MANITEX INTERNATIONAL - BOARD HAS APPROVED DIVESTITURE OF
SABRE
EQUIPMENT, A NON-CORE SPECIALIZED INDUSTRIAL TANK/CONTAINER
BUSINESS
    * MANITEX INTERNATIONAL INC - TRANSACTION WILL ALLOW CO TO
INCREASE FOCUS ON CORE HIGHER MARGIN BUSINESSES
    * MANITEX INTERNATIONAL INC - TRANSACTION WILL BE ACCRETIVE
TO
ADJUSTED EBITDA AND EARNINGS PER SHARE IN 2020
    * MANITEX INTERNATIONAL INC - WILL CLASSIFY SABRE UNIT AS
'HELD
FOR SALE' BEGINNING WITH Q1 2020 FINANCIAL REPORT
    * MANITEX INTERNATIONAL INC - DOES NOT EXPECT TO RECORD ANY
MATERIAL CHARGES IN FUTURE QUARTERS FOR DIVESTITURE
    * MANITEX INTERNATIONAL INC - PROCEEDS FROM ANY FUTURE
TRANSACTION
ARE EXPECTED TO BE USED FOR DEBT REPAYMENT

Source text: (https://bit.ly/2vEJD5K)
Further company coverage:  MNTX.O 

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