During the meeting, Jean-Christophe Giroux, Manitou President & CEO declared: “After a very difficult 2009, we are very happy with all positive signals since the beginning of 2010: business is firming up; results are improving; problems are drifting away. At the same time, Manitou is adapting, is working, is changing – in a nutshell Manitou is progressing. We are on line with our roadmap both in terms of debt reimbursement, breakeven profile and operational improvement. We are proud of these first steps that represent a real promise of success for our customers, our dealers, our partners and our employees.”
On another note, family majority shareholders do not wish any notion of capital increase to interfere with their current debates around succession plans. As a consequence, they preferred to postpone all relevant authorizations (resolutions n°7, 8, 9 & 10) to a later Shareholder Meeting. All other resolutions have been approved at today’s General Meeting.
