Manitowoc unit MGX becomes Hiab dealer in 13 US states

The Manitowoc Company (NYSE: MTW) announced that its subsidiary MGX Equipment Services has signed a dealer agreement with Hiab to distribute loader cranes in 13 U.S. states.

Under the agreement, MGX will provide sales, aftermarket parts and service support for HIAB loader cranes in Colorado, Delaware, Iowa, Maryland, Minnesota, Montana, Nebraska, New Jersey, North Dakota, South Dakota, Virginia, Wyoming and Utah.

The partnership expands Manitowoc's direct-to-customer distribution network beyond its existing crane and lifting equipment brands, which include Grove, Manitowoc, National Crane, Potain, Shuttlelift and Upfits by Aspen Equipment.

"This agreement accelerates the growth of MGX & Manitowoc in the U.S. By expanding our direct-to-customer reach, we can deliver more value through faster response times, stronger service capability, and deeper customer engagement," said Les L. Middleton, Executive Vice President, Americas and EU Mobile Cranes at Manitowoc and President of MGX Equipment Services.

Hiab, listed on Nasdaq Helsinki under the ticker HIAB, reported continuing operations sales of approximately EUR 1.6 billion in 2024 and employs over 4,000 people. The company operates through a network of 3,000 sales and service locations globally.

"The partnership with MGX is an important milestone in our strategy to grow in the attractive U.S. market," said Pauliina Kunvik, Senior Vice President Sales and Services, North America at Hiab.

The information is based on a company press release.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Air T reports revenue jump but widens operating loss in Q1 fiscal 2027
• Home Depot (HD) call put ratio 1.5 calls to 1 put with a focus on September 330 puts into quarter results