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

  • Think global act local: Terex expands global operations
    January 6, 2017
    Terex boss Ron DeFoe has spoken about the company’s expanded global strategy and confirmed his thoughts about the threat represented by Chinese manufacturers. “This year has started well for the Terex organisation and we are confident that our markets are moving into an extended cycle of economic growth right around the globe. As a result we are forecasting a significant growth in sales from US$6.5 billion (2011) to US$8.5 billion,” he said.
    Read More
  • Think global act local: Terex expands global operations
    April 19, 2012
    Terex boss Ron DeFoe has spoken about the company’s expanded global strategy and confirmed his thoughts about the threat represented by Chinese manufacturers. “This year has started well for the Terex organisation and we are confident that our markets are moving into an extended cycle of economic growth right around the globe. As a result we are forecasting a significant growth in sales from US$6.5 billion (2011) to US$8.5 billion,” he said.
    Read More
  • Terex Trucks have big future ambitions after Volvo CE investment
    January 6, 2017
    Terex Trucks is set to benefit significantly from new thinking and investment in its production processes, dealership networks, and customer support capability. The Motherwell, Scotland-headquartered articulated and rigid truck manufacturer has been “refreshed” by its €123.5 million acquisition last year by Volvo Construction Equipment (Volvo CE), according to new Terex Trucks global sales and marketing director Sam Wyant. Wyant said: “We’ve had audits by the Volvo Group on our factories to see what we ca
    Read More
  • Terex Trucks have big future ambitions after Volvo CE investment
    April 23, 2015
    Terex Trucks is set to benefit significantly from new thinking and investment in its production processes, dealership networks, and customer support capability. The Motherwell, Scotland-headquartered articulated and rigid truck manufacturer has been “refreshed” by its €123.5 million acquisition last year by Volvo Construction Equipment (Volvo CE), according to new Terex Trucks global sales and marketing director Sam Wyant. Wyant said: “We’ve had audits by the Volvo Group on our factories to see what we ca
    Read More

Highlighted Content