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

  • Manufacturers launch new low emission engines at Conexpo 2014
    May 20, 2014
    A wide array of engine solutions was unveiled at Conexpo 2014, with major manufacturers developing new low emissions technologies Cummins Emissions Solutions introduced a range of EcoFit urea tanks and lines for those adopting SCR after-treatment systems. EcoFit includes four tank capacities – 19, 38, 57 and 114litres – including two different shape profiles for additional installation flexibility. A key component is the urea quality sensor – it detects and monitors the correct urea liquid composition, e
    Read More
  • Turning the construction industry green
    May 12, 2023
    Green is good for industry – delivering sustainability can also help reduce costs for construction firms, ensuring better financial performance
    Read More
  • Turning the construction industry green
    July 19, 2023
    Green is good for industry – delivering sustainability can also help reduce costs for construction firms, ensuring better financial performance
    Read More
  • Quarry operators improve on productivity
    February 13, 2012
    With capital expenditure plans being reduced, many quarry operators are using the funds available to improve on productivity with their existing equipment fleets. Claire Symes reports. The economic downturn has had a big impact on the aggregates production sector with many quarry operators looking to reduce costs and rationalise operations. The impact of this can be seen in the reduction of capital expenditure plans but the investments that are being made are focused on efficiency.
    Read More

Highlighted Content