Industry News

Manitex International appoints Laura R. Yu as new senior VP and CFO

Manitex International, a leading international provider of cranes and specialised industrial equipment, has announced that Laura R. Yu has been named as the new senior vice president and chief financial officer of the organisation.

Joining Manitex International in May this year as vice president, finance and corporate controller, Yu has over 20 years of experience at both the strategic business unit and corporate level including accounting, finance, tax, cash management and leading finance teams.

Yu has both private and public company experience, focused primarily in the public company industrial equipment sector. Her most recent position prior to Manitex was director, corporate finance at Tenneco.

Yu spent more than 10 years at Tenneco – a Fortune 500, publicly-traded, global manufacturer of automotive and commercial equipment, with worldwide revenues of nearly $10 billion – having started as a senior financial analyst in 1999.

She was also division finance manager and controller during her seven-year career at Filtran, which is owned by a Chicago-based PE firm, formerly part of SPX Corp – a NYSE-listed company with a market capitalisation of over $1 billion, and annual sales in excess of $1.4 billion in 2017. Her prior experience also includes five years at Quaker Oats and MS Management.

During Yu’s career she has gained substantial expertise in accounting functions including consolidations, financial planning and analysis, securities and exchange commission reporting, and cash management.

She has a consistent track record implementing and managing best in class financial management, reporting and compliance practices. Yu holds a Bachelor of Science degree in Accounting from the University of Illinois at Chicago and is a Certified Public Accountant in the State of Illinois.

“We are pleased to expand Laura’s responsibilities and announce her promotion to the role of senior vice president and chief financial officer,” said David Langevin, chairman and CEO.

“Since joining Manitex International, she has quickly demonstrated her strong financial management, reporting and compliance abilities. She has exceptional leadership qualities and experience that will benefit the company and our shareholders.”

Globally, Manitex International provides highly-engineered mobile cranes (truck-mounted straight-mast and knuckle-boom cranes, industrial cranes, rough-terrain cranes and railroad cranes), truck-mounted aerial work platforms, and specialised industrial equipment.

Their products are manufactured in facilities located in the USA and Europe and targets niche markets where the company’s unique designs and engineering excellence fill the needs of its customers and provide a competitive advantage.

The company’s brands include Manitex, PM, Oil & Steel, Badger, Sabre and Valla. Manitex International also has a minority ownership in ASV Holdings, which manufactures and sells a line of high-quality compact track and skid steer loaders.

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