(VIDEO) Manitou Group to invest $80 million across two North American manufacturing facilities
Manitou Group plans to invest €70 million (US$80 million) in its two North American manufacturing facilities in Yankton and Madison, South Dakota. This investment is to be spent on the extension of both sites, an innovation drive, and the development of new ranges. Through this investment, the group reasserts its goal to achieve the targets set in its 2025 New Horizons strategic plan.
This €70 million plan will initially finance the extension of the production facilities of Yankton, where articulated loaders and telehandlers are manufactured, and Madison, where skid steers and track loaders are manufactured, and subsequently fund the modernization of industrial equipment.
"We have an extremely promising outlook on our markets, which entirely substantiates these investments," said Elisabeth Ausimour, Manitou Group president of the product division. "These new developments will enable us to absorb peaks in demand, permanently increase our production capacities and increase the safety of our workers, in particular by optimizing flow management. Consequently, we expect to increase our output on these sites by more than 150 percent by 2026. These projects also fall within our low-carbon transition, through the development of new electric ranges."
Expanding manufacturing space and hiring new employees
The Yankton facility will see its surface area increase by more than 6,000 sqm (65,000 sq ft), compared with the current 18,500 sqm (200,000 sq ft), while more than 7,500 sqm (80,000 sq ft) will be added to the 30,000 sqm (325,000 sq ft) of production space at Madison. The equipment upgrading relates to mechanical welding and assembly, with the notable additions of new welding robots and laser cutting machines. To support its development, the group intends to hire 50 people on each of these sites between now and 2023, in job categories such as welders, assemblers, maintenance technicians, and purchasers. The Manitou Group will draw on an attractive employer brand and benefits packages to attract new employees.
Manitou investing in research and development
Along with the industrial investment which will account for approximately €50 million (US$57 milllion), nearly €20 million (US$23 million) will be dedicated to research and development. The group's major R&D projects include the renewal of product ranges and designing electric compact loaders and telehandlers between now and 2026 on these two North American sites.
"This massive investment is a clear indication of the group's ambition in North America, where there exists considerable market potential," said Franck Buisard, Manitou Equipment America vice president of product unit compact and articulated loaders and managing director. "The R&D teams are particularly excited about working on these highly strategic projects, aligned with the priorities in our CSR roadmap."
These projects will launch in the second quarter of 2022 and will continue through 2026.
