Terex’s bright past, better future

John Garrison, Terex Corporation CEO, has said that as soon as further information is available on Zoomlion’s unsolicited cash bid for the company there will be an announcement. The Chinese construction equipment manufacturer is understood to have increased its offer for Terex in the estimated $3.4 billion bid. Meanwhile, Terex has an existing merger agreement with Finnish company Konecranes.
April 13, 2016 Read time: 2 mins
Garrison: no information yet on Zoomlion bid

John Garrison, 1222 Terex Corporation CEO, has said that as soon as further information is available on 1175 Zoomlion’s unsolicited cash bid for the company there will be an announcement.

The Chinese construction equipment manufacturer is understood to have increased its offer for Terex in the estimated $3.4 billion bid. Meanwhile, Terex has an existing merger agreement with Finnish company Konecranes.

“The board of directors has not changed its recommendation for the Konecranes’ merger,” Garrison told a press conference at bauma 2016. “We cannot comment on how long this is going to take. As soon as we have something to say we will make an announcement. Since I became CEO in November, 2015, it has been a very exciting and dynamic first couple of months. I must emphasise that in this company safety is the most important thing we do.”

The company is using the theme Bright Past, Better Future. “For example, this year our Genie brand is celebrating 50 years,” he said. “We are reintroducing the Demag brand to our cranes, and 2991 Powerscreen is also 50 years. There is a tremendous amount at Terex to be proud of, particularly with our 20,000 team members. But we can’t rest on our laurels.”

Plans are in hand to reintroduce the City Crane under the Demag name, but Ken Lousberg, president of Terex Cranes, said he could not give a date as yet.

“I think it will be a short development time,” he said.

Kieran Hegarty, president of Terex Materials Processing, said, “Our customers are telling us they want real-time diagnostics on their machines to maximise their efficiency. You are seeing a big focus on advanced telematics.”

For more information on companies in this article

Related Content

  • A new event is preparing the asphalt industry for tomorrow’s world
    September 11, 2018
    An inaugural event for the European bitumen industry urged attendees to look to the future - Kristina Smith reports What will tomorrow’s roads look like? Will lanes be narrower, will the road charge vehicles as they drive on them, will they collect data, will they be self-cleaning and de-polluting? All these questions and more were pondered at a two-day conference in Berlin, entitled ‘Preparing the asphalt industry for the future’. It was the first such event for Eurasphalt & Eurobitume (E&E), and set a
    Read More
  • Construction sector's quiet revolution for digital worksites
    February 8, 2017
    The digital worksite topped the agenda at this year’s CECE congress. David Arminas reports from the Czech capital Prague* Europe’s equipment manufacturers and their clients are truly in an age of transformation driven by an increasing move towards the digital worksite. Because this transformation is so deep, there looms big challenges for the entire sector and its supply chain, noted Bernd Holz, president of the CECE – Committee for European Construction Equipment, Europe’s umbrella organisation for
    Read More
  • Volvo CE’s electric quarry operation commences trials
    August 29, 2018
    Volvo CE is commencing operations of its low emission quarrying operation in Sweden. The facility has a strong focus on electric machines, with diesel-electric hybrid equipment also being used. According to the firm, this is a world first for a quarry facility that can be run almost 'emission-free'. Volvo CE and its customer Skanska have now commenced testing the viability of the Electric Site concept at Skanska’s Vikan Kross quarry, located near Gothenburg in Sweden. The production system at the site
    Read More
  • India's first construction event a huge success
    April 5, 2012
    The first bC India event has exceeded all expectations and it is set to become a regular event. Patrick Smith reports A major new construction equipment show has been launched in a nation with a huge appetite for such machinery and a growth rate nudging 9% each year. With billions being spent on infrastructure (roads and highways, power stations, railways, ports and airports), India was a prime candidate for a trade fair to display the latest and local international construction machinery, building materia
    Read More

Highlighted Content