The PM acquisition is also favorable for Manitex from a financial standpoint as the restructuring of PM's debt includes a reduction of more than $65 million. The acquisition is also expected to be accretive to Manitex's net earnings in 2015 and beyond. This, together with ASV, Manitex's new joint venture with Terex Corp. ( TEX ), will allow the former to start 2015 with an annual sales run rate of approximately $500 million.