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

  • Everything is AquaClear for Terex Washing Systems
    March 11, 2017
    Terex Washing Systems (TWS) has staged the global launch of Terex AquaClear Water Management Solutions at CONEXPO-CON/AGG 2017. Oliver Donnelly, TWS global business line director, said: ‘It really is an exciting time for TWS and we are delighted to be able to offer an end-to-end solution for washing and water management from TWS, a single supplier. We are launching a full range of water management products to include clarifying tanks, flocculent dosing systems, filter presses and all associated equipment
    Read More
  • Metso looks to develop its international profile following its recent demerger
    March 12, 2014
    Metso CEO and president Matti Kähkönen explained how the company is evolving - Mike Woof reports Finnish crushing and screening specialist Metso is looking to expand its worldwide operations following the recent demerger of the group. CEO and president Matti Kähkönen said that Metso has been a multi-industry business for the last 14 years. The firm’s biggest divisions have been the joint construction and mining division and the pulp and paper business, with its automation sector being the smallest of the
    Read More
  • CONEXPO/CON-AGG opens doors to biggest-ever staging of the exhibition
    March 14, 2023
    The biggest-ever staging of the CONEXPO-CON/AGG exhibition in Las Vegas, Nevada, USA, was getting underway today.
    Read More
  • Plans in hand for bauma 2016 exhibition, with positive market outlook
    May 18, 2015
    The organisers of the bauma exhibition in Germany predict a positive future for the construction market in 2016. Large increases are expected in the North American market while there are also pPositive trends in the Near and Middle East. Last year North America and Europe were the most dynamic construction machinery markets in the world according to data from the bauma organisers. Some market experts believe that this trend could continue in 2015. This is one of the reasons why the market in construction
    Read More

Highlighted Content