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

  • Kobelco plans to increase US production
    March 10, 2017
    Having re-integrated its excavator and crawler crane businesses in the US, Kobelco is planning to ramp up production here, president and CEO Kazuhide Narake told a press conference at CONEXPO/CON-AGG. “We built our factory in Spartanburg and had our opening ceremony in July 2016,” Narake began.
    Read More
  • Liebherr continues to grow despite tough trading conditions
    January 6, 2017
    Liebherr is weathering the current financial situation rather better than some other firms, having seen turnover increase 9.8% to €4.4 billion in the first half of 2012, compared with the previous year. According to Andreas Boehm, a member of the board of directors at Liebherr, turnover for the mining and construction operations saw gains of 7.7% to €2.84 billion in the first half of 2012, compared with 2011. He continued, “Turnover from our earthmoving machinery increased 14.4% to €1.07 billion.” However,
    Read More
  • Liebherr continues to grow despite tough trading conditions
    November 28, 2012
    Liebherr is weathering the current financial situation rather better than some other firms, having seen turnover increase 9.8% to €4.4 billion in the first half of 2012, compared with the previous year. According to Andreas Boehm, a member of the board of directors at Liebherr, turnover for the mining and construction operations saw gains of 7.7% to €2.84 billion in the first half of 2012, compared with 2011. He continued, “Turnover from our earthmoving machinery increased 14.4% to €1.07 billion.” However,
    Read More
  • A new battery facility for John Deere
    August 16, 2023
    John Deere is to build new off-highway battery facility in the US.
    Read More

Highlighted Content