Manitou Names President of Industrial Material Handling Division

Effective September 1, Fabrice Beslin became president of Manitou Group’s Industrial Material Handling Division, replacing Jean Louis Hervieu who is retiring.

Fabrice Beslin joined Manitou Group in 2005 and had been promoted IMH deputy president a year ago to ensure a smooth transition. Prior to his departure, the board of directors paid Jean-Louis Hervieu a special tribute for his contribution to the Manitou commercial and business franchise throughout 25 years.

In the first half of 2012, the Industrial Material Handling (IMH) Division posted revenue of €84m ($105.9 million), a 14 percent growth over H1 2011. The launch of new MI range, the stabilization of Beaupreau site and the reinforcement of commercial organization are key steps to reinforce Manitou industrial offer after the announcement of Toyota partnership evolution in 2013. The operating result reached €1.6m ($2 million) representing a margin of 1.9 percent vs. 0.1 percent in June 2011.