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 2016 – show report
    March 6, 2017
    The fourth edition of Bauma Conexpo India, which took place at Gurugram, near New Delhi, was dominated by road construction manufacturers and distributors, sharing heightened business confidence and buoyed by the Indian government's major thrust to develop road infrastructure. Partha Pratim Basistha reports
    Read More
  • CNH Global NV acquires ownership of Indian jv
    February 16, 2012
    CNH Global NV, a global player in the agricultural and construction equipment business, has acquired full ownership of L&T-Case Equipment, an unconsolidated joint venture established in 1999 with Larsen & Toubro (L&T) to manufacture and sell construction and building equipment in India.
    Read More
  • CNH Global NV acquires ownership of Indian jv
    May 2, 2012
    CNH Global NV, a global player in the agricultural and construction equipment business, has acquired full ownership of L&T-Case Equipment, an unconsolidated joint venture established in 1999 with Larsen & Toubro (L&T) to manufacture and sell construction and building equipment in India.
    Read More
  • Construction machine sales to grow worldwide?
    October 28, 2016
    A slow but steady recovery in machine sales worldwide is likely in the next few years, with India being one of the key growth markets for the future. However, this comes after the construction equipment sector has seen significant downturns as well as other major changes worldwide in the last few years, according to David Phillips, managing director of Off Highway Research. He said, “The industry structure has really changed.” Global sales of construction machines were worth around US$93 billion in 2014
    Read More

Highlighted Content