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

  • Terex Washing Systems displays great 4Site at bauma 2016
    April 15, 2016
    Terex Washing Systems (TWS) is this week staging the official launch of its 4Site project management service – part of the company’s ongoing commitment to serve customer’s needs. There are three different project management service packages available – Silver, Gold and Platinum – with each including four key steps. Appraise sees TWS carry out a full appraisal of a customer’s project needs, giving them accurate and timely guidance and technical advice. Plan involves a comprehensive project plan tailored t
    Read More
  • HxGN Live 2014: Hexagon CEO highlights individual need to grasp IT innovation
    June 4, 2014
    Hexagon president and CEO Ola Rollén stressed how individual users of exciting information technology innovation held the key to successfully confronting growing global challenges during his keynote speech titled ‘The Disruptive Power of Transformation’ which officially opened HxGN Live 2014.
    Read More
  • Volvo CE develops efficient new soil compactors
    December 17, 2013
    Volvo CE’s redesigned soil compactors offer improved cab designs and better performance, while the firm is offering other glimpses of future technologies - Nick Johnson reports This summer marked the 55th anniversary of Volvo Days – an event that enables Volvo Construction Equipment customers to find out more about the company’s latest products and services. An impressive machine demonstration at the Volvo Customer Centre in Eskilstuna, Sweden provided the official launch for several new models, including s
    Read More
  • Jennifer Rumsey to succeed Tom Linebarger as Cummins president and CEO
    July 15, 2022
    Jennifer Rumsey is to succeed Tom Linebarger as Cummins president and CEO.
    Read More

Highlighted Content