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

  • LeeBoy expansion strategy targets emerging markets
    January 6, 2017
    During the recent Conexpo event in Las Vegas, Kelly Majeskie, President of The LeeBoy Group, spoke about his expansion plans for the business “We’ve been working on a couple strategies for LeeBoy” said Majeskie, “an overseas growth strategy and a more focused approach to the US market. Like most businesses we saw a major downturn when the US housing market took the big hit in 2008/9.
    Read More
  • Volvo CE’s technology & innovation leadership
    March 9, 2017
    Volvo Construction Equipment president Martin Weissburg said the brand’s innovation and technological leadership in its sector comes from being part of the Volvo Group’s hugely successful and diverse global business portfolio. Examples of the Swedish construction equipment manufacturing giant’s ongoing investment in new technology include prototypes such as the LX1 electric hybrid wheeled loader; the HX1 battery-electric, fully autonomous load carrier; and the HX2, another battery-electric, fully autonomous
    Read More
  • HxGN Live 2014 attracts record event numbers
    August 28, 2014
    Attracting an HxGN Live event record-breaking 3,500 attendees, HxGN Live 2014 held at the MGM Grand in Las Vegas, US, June 2-5 showcased exciting new and in-demand design, measurement and visualisation technologies for industries including road construction and mining. Themed Great Stories Start Here, this year’s event also included a variety of exclusive presentations by industry experts, hands-on training, inspiring keynotes and international networking opportunities. Guy Woodford reports In
    Read More
  • Caterpillar: this is what the future looks like
    April 14, 2016
    Fuel efficiency and powertrain alternatives are crucial for the future of construction, while the issue of emissions will remain a priority for some time to come – that was the message from Caterpillar’s roundtable event at bauma 2016. Senior executives from the company spoke with journalists, discussing key future technology developments and trends for the firm. Paolo Fellin is VP Global Construction & Infrastructure, while Ken Hoefling is VP for Building Construction Products. Karl Weiss is VP Earthmovin
    Read More

Highlighted Content