EQUIPMENT
64
international
construction
september 2013
Manitou
Manitou’s interim
CEO plans to bring the
company into a new
era, as he explained to
Euan Youdale
D
ominique Bamas is
passionate about Manitou’s
future, but that’s no surprise
considering he has known the
company for 25 years and worked
as an independent board member
since 2009.
He stepped in when Jean
Christophe Giroux departed as
CEO in March and will remain
in charge until a permanent
replacement is found, and the
company – with 3,200 employees
and € 1.3 billion (US$ 1.7 billion)
annual revenues – will take its time
to find the right person.
“The profile of the new CEO
will be more operational and
less financial,” said Mr
Bamas. “The objective
is to have a CEO that
will be close to the
field and close to the
commercial side of
things – very hands
on.”
The opening of
an assembly plant
in Brazil sometime
in the next two
years could be on
the agenda, but
Mr Bamas said the
assembly plant would be
its only new facility in the
immediate future, as the
company’s main focus
of expansion
would be through new dealerships,
and growth of existing ones in
countries like Russia.
The new depot would assemble
a range of Manitou products.
“But assembly plants are not our
main objective at the moment. We
already have eight assembly plants –
four in France, one Italy and three
in the US. If we have +10 to +15%
growth each year in the next five
years, we will probably need more
plants, but that is not the case for
the moment,” he said.
Mr Bamas added, “The main issue
is to find the right go to market
strategy to develop our brand. We
have good products and industrial
potential but in many countries we
have a small market share, so we
want to develop that.”
Doubling output
Another of Manitou’s strategies
is to double its output of access
equipment within five years.
Powered access accounts for about
10% of production, and this will
be increased to 20%. “It will be
organic growth,” he said. “We
don’t need to bother with new
companies. We are a family-owned
business, we are close to our
products and our customers, and
we want to develop this.”
Manitou’s biggest market is in
its home country of France, plus
other northern European countries
and North America, following its
acquisitions of a skid-steer loader
range in the shape of Gehl, which
includes the Mustang brand.
The company is now setting its
sights on the BRIC nations, with a
special focus on Brazil and Russia.
“We will try India and China but
they are more difficult because the
products we produce are not really
well known, so we have to convince
the market first to use telehandlers,
and that’s before we convince them
to use Manitou,” he said.
One of those opportunities
may lie in rental, particularly
in producing products that are
attractive to rental companies.
“We already have sales to rental
companies, but what we mean by
developing rental is mainly to have
a line of products that are adapted
to specific requirement of rental
companies.
“The rental company probably
needs products with less technology,
but that are more robust. In the
past we were more involved in high
technology, and a rental fleet needs
more of a basic product,” said Mr
Bamas.
He was quick to add that
Manitou will not hold back on new
innovation.
“The DNA of the company is
technology, innovation, design,
so we will not change that, but
we have to change our mindset a
little to be able to address different
markets,” he said.
Historically, the access equipment
segment of Manitou has had a
much smaller profile than the
telehandler side of the business
which represents a lion’s share of
revenues. But that is set to change,
according to Mr Bamas.
“I really believe in the access
equipment market, which probably
has more potential than the
telescopic handler market. Everyone
knows Manitou is a telescopic
handler manufacturer and it’s
probably one of the most famous
brands in that area, but there are
less customers who also know we
are a player in the access platform
market.”
With his considerable knowledge
and experience, Mr Bamas will
be around for some time to lend
support to the new CEO, unless,
perhaps, he has thoughts of taking
on the role permanently. “Of course
it would be a great challenge.
I like this company and I have
known it for 25 years, and I have
been involved with many different
aspects of this company - that’s why
they offered me this transitional
function.
“Manitou is a very attractive
company. I don’t say that to be
politically correct, it’s a great
family business, with many, many
attractive aspects,” he concluded.
iC
Organic development
Dominique Bamas,
“Growth will be organic”
