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

  • Wacker Neuson reports strong Q3 performance
    November 12, 2013
    Compact equipment manufacturer Wacker Neuson reports an upturn in its business in the third quarter of 2013. This comes despite the difficult economic climate. The firm’s revenue for the third quarter of 2013 was 8.6% higher than the same period in 2012 and reached €276.3 million, compared €254.5 million in the previous year. Taking into account currency fluctuations, this represents an increase of 13% according to the firm. “When viewed against negative trends in certain markets, we can be satisfied with t
    Read More
  • Beijing's BICES reflects China's economic growth
    February 27, 2012
    The busy BICES show reflects China’s booming infrastructure investment and growing economy – Mike Woof reports. The recent BICES trade show in capital Beijing was extremely busy, with high visitor attendance levels and crowded aisles. The interest in the event strongly reflects the country’s massive infrastructure growth, which continues to develop. The construction equipment business has been identified as a key economic priority by the Chinese Government, with manufacturers being offered numerous incentiv
    Read More
  • CECE Congress focuses on future of construction
    April 10, 2012
    The bi-annual CECE Congress was held in Spain when participants looked forward in a bid to see what will happen in the next ten years Growth markets such as China, India and Brazil offer big opportunities to European construction equipment manufacturers. As companies, particularly those from China, start to expand outside their own countries the competition for business will increase, and it has been claimed that there is no such thing as 'the global market', rather it is the sum of hundreds, if not thousa
    Read More
  • KPI-JCI unveils new hybrid solutions
    March 13, 2017
    KPI-JCI has unveiled its new hybrid crushing and screening solutions during CONEXPO-CON/AGG 2017. The Astec Industries’ company is here with the new GT440 Hybrid horizontal shaft impactor (HSI) and GT205 Hybrid Multi-Frequency screen. Offering on-site mobility and quick set-up, the GT440 Hybrid HSI delivers up to 30% more uptime with continuous crushing and tracking.
    Read More

Highlighted Content