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

  • bauma Conexpo India set to be bigger than ever
    November 14, 2016
    Organisers of bauma Conexpo India are bullish about the success of the upcoming December event with many visitors registering on-line now. Exhibitors, too, have been lining up for bauma Conexpo India to be held December 12-15, 2016, at the HUDA grounds in Gurgaon/Delhi. The fourth International Trade Fair for Construction Machinery, Building Material Machines, Mining Machines and Construction Vehicles is being held for the fourth time after solid support from big-name exhibitors in the past. And they
    Read More
  • SANY Road Machinery is looking to increase export levels
    March 4, 2015
    SANY Road Machinery says that its machines offer customers a very good return on investment - Mike Woof writes. SANY Road Machinery looks set to boost its profile outside of China. The company has been focussed on the Chinese home market in recent years, due to the massive highway expansion programme in the country. However with 80% of the country’s highway construction programme now complete, SANY Road Machinery is looking to further develop its export business. Wang Zuochun is senior vice president at SAN
    Read More
  • Ammann is keen to develop industry knowledge for recycling
    April 15, 2016
    Recycling is undoubtedly a key issue for the asphalt sector, with recycled asphalt pavement (RAP) now considered a valuable commodity in some markets. Swiss-based Ammann is one of the technological leaders in the asphalt plant sector as well as being among the industry leaders in developing asphalt recycling solutions.
    Read More
  • Volvo CE sales up 10% in Q1 2014
    April 25, 2014
    Volvo Construction Equipment says growth in mature markets is the biggest contribution to its 10% sales increase in the first quarter of 2014, compared to the same three months of last year. The first three months of this year saw improved earnings on the back of increased sales, deliveries and order intake. The period also saw the launch of a new range of Volvo CE Tier 4 Final/Stage IV compliant models.
    Read More

Highlighted Content