Terex CEO lays out future strategy

Terex Corporation has continued to divest itself of businesses that are not core to its three main industry sectors - cranes, aerial work platforms and materials processing. Speaking at the CONEXPO-CON/AGG show in Las Vegas, president and CEO John Garrison laid out the company’s future strategy.
March 9, 2017 Read time: 2 mins
CEO John Garrison says Terex in improved financial position

1222 Terex Corporation has continued to divest itself of businesses that are not core to its three main industry sectors - cranes, aerial work platforms and materials processing.

Speaking at the CONEXPO-CON/AGG show in Las Vegas, president and CEO John Garrison laid out the company’s future strategy.

“It’s been a dynamic and exciting time at Terex, transforming Terex for the future,” he said.

Already this year the company has sold its compact construction equipment division in the UK to French company Mecalac and its Materials Handling and Port Solutions business to Konecranes. In 2016 the firm also sold its German construction machinery business to Yanmar. There are now just two smaller businesses to divest, including a site that builds backhoe loaders in India.

Terex is also set to close 14 manufacturing facilities around the world, around one third of its global capacity, as it restructures production of equipment.

“That’s necessary for us to get our cost structure in line,” said Garrison.

However he claimed that the company is ready to respond to any upturn in demand and will continue to invest in organic growth from within the three operating divisions. At CONEXPO-CON/AGG alone Terex unveiled 12 new cranes, aerial work platforms and crushing solutions. The business will also continue to invest in customer service offer and dealer support.

For more information on companies in this article

Related Content

  • Caterpillar’s 2016 results reflect tough market conditions
    January 31, 2017
    Caterpillar’s financial results for 2016 reflect the tough trading conditions that US construction machine firms in particular have been experiencing. In another development, the firm is looking to move its global corporate headquarters from Peoria to Chicago.
    Read More
  • JCB starts production of Project 710, its Hydradig 10tonne machine
    July 7, 2016
    JCB has started full production of its new Hydradig after the machine made its international debut at the equipment trade fair bauma in Munich in April. JCB says it has already received hundreds of orders for the new 10tonne machine which is being manufactured at the JCB Heavy Products plant in Uttoxeter, Staffordshire, England. Around 85 people have been recruited for the production process, including engineers, welders and assembly line employees. The JCB Hydradig was developed in complete secrecy o
    Read More
  • Terex in Red Diesel Replacement programme
    September 15, 2023
    The UK government has chosen six projects to move forward within the Red Diesel Replacement programme as a way to decarbonise construction, mining and quarrying.
    Read More
  • On the road to the IRF Istanbul Congress, first stop: decarbonisation
    May 30, 2024

    As the world gears up for the highly anticipated IRF World Congress 2024 to be hosted in Istanbul on 15-18 October 2024, work on some of the core themes of the Congress is moving on steadily.

    Under the overarching theme of “Connecting to Empower Mobility: Roads as Enablers of a Sustainable Future for All”, the Congress serves as a dynamic platform to explore innovative solutions and collaborative efforts.

    Read More

Highlighted Content