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

  • The Fayat Group is increasing its international focus
    April 13, 2016
    The Fayat Group is developing its operations, with a greater focus on international operations a key direction for this French firm. Jean-Claude Fayat, president of the Fayat Group, said, “It’s important for us to be a family company. We have three values, autonomy, commitment and audacity.” Being a family-owned business has allowed the firm to respond quickly to changes in market demand - the board of directors can make decisions and implement them whereas publicly-owned firms have to involve shareholde
    Read More
  • FG among the first for Cat 966K
    November 30, 2012
    Fergusson Group (FG), the Scottish-based solid fuel import, export and distribution business, has assembled the largest Cat 966K wheeled loader fleet in the UK. The company’s six 966K machines are part of a €2.53million plus supply deal with Finning UK and Ireland. FG has also added a Cat 725 ADT, Cat 320DL excavator and Cat 226b skid steer loader to its fleet. Launched in 2012, the 966K wheeled loaders combine the Cat C9.3 ACERT Stage IIIB compliant engine with new performance series buckets. Finning clai
    Read More
  • LiuGong 900E excavators “very key” for company future
    January 6, 2017
    A senior LiuGong figure says the company’s keenly awaited 900E Series excavator is a “very key machine” for its future. Dave Beatenbough, vice president of the Chinese construction equipment manufacturing giant’s research and development arm, said production of the model at LiuGong’s Dressta base in Poland was expected to begin “within three months”.
    Read More
  • LiuGong 900E excavators “very key” for company future
    April 16, 2013
    A senior LiuGong figure says the company’s keenly awaited 900E Series excavator is a “very key machine” for its future. Dave Beatenbough, vice president of the Chinese construction equipment manufacturing giant’s research and development arm, said production of the model at LiuGong’s Dressta base in Poland was expected to begin “within three months”.
    Read More

Highlighted Content