WIXOM, Mich., July 10 /PRNewswire-FirstCall/ -- Veri-Tek International, Corp. (AMEX:VCC) ("Veri-Tek" or the "Company") today announced that, effective July 3, 2006, it has purchased Manitex, Inc. ("Manitex") through the acquisition of all of the membership interests of Quantum Value Management, LLC. Manitex is a leading provider of engineered lift solutions in North America. Manitex, based in Georgetown, Texas, is a leading designer, manufacturer, and marketer of a comprehensive line of boom trucks, sign cranes and trolley boom unloaders. Manitex's boom trucks and crane products are primarily used for industrial projects and infrastructure development, including roads, bridges and commercial construction, and most recently, energy exploration. Manitex has experienced growth in its business as evidenced by the increase in its revenues from approximately $38 million in 2003 to approximately $62 million in 2005. Donald Brown, Veri-Tek's President and Chief Operating Officer, commenting on the transaction, stated, "We are very excited to complete this acquisition of Manitex. Manitex is a leader in its industry and they will provide us with a strong revenue and earnings base in a very active market. Their manufacturing success will supplement our growing line of testing and manufacturing equipment."
