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Veri-Tek International Corp. (VCC) Gives a Lift

Veri-Tek International Corp. is one of the leading engineered-lifting solution providers in the diversified machinery sector today. With corporate headquarters in Bridgeview, Illinois, they manufacture truck-mounted cranes, sign cranes, rough terrain forklifts, and special mission oriented vehicles.

They list on the AMEX and have a market capitalization of 41.1M. Their brand names on the market are Manitex, Skycrane, and USTC. They have a Canadian subsidiary called Manitex Liftking ULC. This subsidiary makes specialty industrial forklifts and vertical or telescopic mast rough terrain lift trucks. They also make specialty lifting and materials handling equipment for the government and military.

Along with providing their complete lifting systems, Veri-Tek also supplies replacement parts for their customers existing lifting devices. Additionally, they provide service support for their products and training programs for the safe, efficient use of their lifting devices. Their Manitex division offers replacement parts 24/7 with an online ordering and tracking system.

Veri-Tek went public in 2006. That same year, they acquired Liftking, and in 2007 acquired the Noble rough-terrain forklift business. In 2007 they divested themselves of their automotive testing and assembly equipment business. The Noble acquisition should further Veri-Tek’s growth as they now have access to Noble’s established dealer network.

With their 24/7 online ordering and tracking system soon to be available across all the company’s divisions, Veri-Tek sits ready to take hold of more of the $110 billion U.S. industrial machinery market. Their products find use in industrial projects and energy exploration projects. In addition, they operate in infrastructure development projects such as roads, bridges, and commercial construction. Veri- Tek continues to do the lifting where required, and seeks to give their investors the financial lift they’re after too.

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