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

  • Higher productivity, lower cost asphalt plants
    February 14, 2012
    Manufacturers are producing innovative asphalt equipment, and operators are benefiting from this as Patrick Smithreports. Asphalt plant manufacturers and operators are understandably placing great emphasis on higher productivity but with lower costs. At the same time they are aware of environmental issues and the ever-increasing use of recycled material in mixes.
    Read More
  • Wacker Neuson bullish with strong results
    March 18, 2019
    Wacker Neuson is bullish with its latest financial results, showing record revenue for fiscal 2018 with. The firm saw double-digit growth in group revenue to reach €1.7065 billion, a jump of 11%. The firm benefited from even faster EBIT growth to reach €159.7 million, a jump of 22%, while EBIT margin improved to 9.4%. The firm’s new strategy includes initiatives reduce complexity while its revenue is expected to grow by 4-8% in 2019 The Wacker Neuson Group says that business grew across all regions and bus
    Read More
  • Mexico’s new Jala-Puerto Vallarta Highway
    August 29, 2017
    Mexico’s highway infrastructure plays a key role in the country’s economy, carrying around 55% of its freight and 98% of its passenger traffic. To meet this demand, the network has 377,660km of roads in all. This is split between the 49,652km federal highway network, the 83,982km of state roads, 169.429km of rural roads and 74,596km of access roads. mHowever, although the federal road network manages to connect a large part of the country's strategic points, some stretches already present problems with satu
    Read More
  • SBM showcasing JAWMAX 400 & giving REMAX 600 update
    February 7, 2023
    SBM Mineral Processing will showcase its JAWMAX 400 jaw crusher when the innovative Austrian crushing and screening plant maker makes its fourth CONEXPO/CON-AGG appearance during the 14-18 March 2023 staging of the major tri-annual industry exhibition. 
    Read More

Highlighted Content