Yes, the construction equipment sector is challenging at present, but Terex is celebrating 50 years of its Genie business and is looking ahead with enthusiasm
John Garrison, Terex Corporation CEO, has said that as soon as further information is available on Zoomlion’s unsolicited cash bid for the company there will be an announcement. The Chinese construction equipment manufacturer is understood to have increased its offer for Terex in the estimated $3.4 billion bid. Meanwhile, Terex has an existing merger agreement with Finnish company Konecranes.
A senior Terex figure said the leading construction equipment manufacturer is hard at work targeting future “mineral wealth” led sales growth opportunities in Africa, Russia, Asia and Australia. Speaking during the recent Terex Truck Days event at the firm’s articulated and rigid dump truck manufacturing facility in Motherwell, Scotland, John Mlonek, commercial sales manager for Terex Construction, said, “With the downturn in Europe, lots of our efforts have gone more into markets like South Africa, which i
Finnish port crane manufacturer Konecranes, which plans to merge with Terex Corporation, said it will make annual cost savings of €25 million by the end of 2017.
The company said that while merger talks with US manufacturer Terex continue, it needs to make efficiency savings. Around half of the savings will happen before the end of this year, according to a written statement.
Plant down-sizing and closures are a possibility, as well as some streamlining of its product portfolio and its supply chain.
Genie is celebrating its golden milestone in 2016 with four new products.
The Terex lift and work platform manufacturer is offering two new Genie Z-boom lifts; a new compact GTH-telehandler and a redesigned Genie vertical mast lift.
“From Bud Bushnell’s [founder of Genie] garage in 1966, to the 4,500 team members serving customers around the world today, our customers have trusted us and helped us build and define the aerial industry, to offer people ways to work at height safely,” says Matt Fearon,
