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Manitou and Yanmar announce alliance

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Manitou will launch a line of compact excavators manufactured by Yanmar, under the Gehl and Mustang brands for the North American Sales Region.

| February 17, 2012

WEST BEND, Wis., ADAIRSVILLE, Georgia – Manitou Group,  a material handling and compact equipment company and Yanmar Co., a global manufacturer of diesel engines and a broad range of compact equipment, has formed a strategic alliance. The two companies have had a long-standing partnership including the use of Yanmar engines in Gehl and Mustang branded compact equipment manufactured by Manitou in the United States, the company said in a statement.

Initially as part of the alliance, Manitou will launch a line of compact excavators manufactured by Yanmar, under the Gehl and Mustang brands for the North American Sales Region. With this announcement, Manitou has concluded its distribution relationship with Wacker Neuson who has provided compact excavators and all-wheel steer loaders to Manitou for the Americas region since 1999.

In parallel, Yanmar will launch a range of skid loaders and compact track loaders designed and manufactured in the United States by Manitou’s Compact Equipment Division under the Yanmar brand for distribution in North America.

After the completion of the initial launch by both companies, they will look at broader distribution opportunities aimed at growing sales activities for both companies while strengthening each company’s independent dealer network, the statement said. Further opportunities for manufacturing alliances will also be explored to shorten time to market and better utilize existing worldwide manufacturing facilities and expertise.

“There is a strong synergy between our organizations, from our core culture and values to the complimentary fit of our product lines. We believe the market will readily embrace the quality and value that our products have to offer,” stated Ted Bregar, president of Yanmar America.

Daniel Miller, Manitou Americas president and CEO said, “Manitou is extremely excited about this enhanced alliance and the opportunities it presents for our dealers and customers. Yanmar has been a key supplier and this new relationship only strengthens this long term partnership.”

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