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

  • Shell’s John Read explains “adaptable bitumen” developments
    December 15, 2016
    Shell’s highly innovative bitumen and asphalt solutions are helping create future-ready urban road networks around the world to meet the needs of today and tomorrow. Shell’s general manager of bitumen technology, Professor John Read, takes a look at some of the company’s game-changing ideas. The next 30 or so years will see a significant transformation in the way we live. Whereas almost 75% of the world’s population lived in rural locations in 1950, around 75% will live in cities by 2050. The global popu
    Read More
  • Big production
    March 14, 2012
    High quality standards and high quality equipment have led to one company building a strong market share in a part of the US with high requirements on finish. The Pavement Maintenance Division of American Asphalt and Grading is based in Las Vegas, Nevada, but is highly active right across the states of California, Utah, Nevada and Arizona. This operation is run by Eric Reimschiissel and was established as a division from the parent company in 2001 and has since grown to have two paving/patching crews, two s
    Read More
  • Demand is changing in the bitumen market
    August 22, 2013
    The supply and demand for bitumen around the world is changing; refineries, suppliers and contractors must all make changes too - Kristina Smith reports These are interesting times for those supplying and buying bitumen. Almost every part of the picture is in flux: global demand is shifting dramatically; major suppliers are following demand; refineries are closing down or stopping production of bitumen. “In Europe and globally there is a very big chain of events happening,” said Bernd Schmidt, CEO o
    Read More
  • Rolls Royce and Deutz agreeing engine deal
    December 15, 2023
    Rolls Royce and Deutz are agreeing an engine asset exchange deal.
    Read More

Highlighted Content