Terex Cranes sees 10% growth in strong corporate Q2 in 2018

Despite global supply chain challenges, sales for Terex Cranes grew 10% to $335 million in the second quarter this year. Terex Corporation also reported an overall strong second quarter 2018 sales of US$1.4 billion, up 19% versus Q2 2017, with increased sales and backlog in all three business segments. The company said that results were driven by its ongoing corporate Execute to Win business strategy and during a period of broad-based growth. The company said that the global cranes market is generally
August 2, 2018 Read time: 2 mins

Despite global supply chain challenges, sales for 2941 Terex Cranes grew 10% to $335 million in the second quarter this year.

1222 Terex Corporation also reported an overall strong second quarter 2018 sales of US$1.4 billion, up 19% versus Q2 2017, with increased sales and backlog in all three business segments. The company said that results were driven by its ongoing corporate Execute to Win business strategy and during a period of broad-based growth.

The company said that the global cranes market is generally stable with growth in certain areas.

“Our tower crane business continues to grow driven by higher demand in Europe, North America and Asia and our utilities business continues to perform well in a relatively stable market environment,” said Steve Filipov, president of Terex Cranes.

“A critical element of our cranes improvement plan is to successfully introduce new products. The 3-axle Demag AC 55-3 all-terrain crane is the latest addition to our portfolio. By reinvigorating our product portfolio, we are re-establishing ourselves as a leader in the all-terrain segment.”

John Garrison, Terex Corporation chief executive, said the company increased sales and backlog in all three segments and increased production to meet strong global demand. “Overall, it was a strong quarter that positions us very well going into the second half of the year.”

Finance & Funding

For more information on companies in this article

Related Content

  • Liebherr’s results have been hit by the pandemic
    April 20, 2021
    Liebherr’s 2020 financial results have been hit by the pandemic.
    Read More
  • Volvo CE Q1 2013 net sales down 33% - but firm maintains profitability
    April 25, 2013
    Volvo Construction Equipment (Volvo CE) said sharply lower global demand, especially in the mining sector, during the first three months of 2013 had caused its 33% net sales decline in the quarter to US$1.829 billion (SEK 12,136mn). The Swedish construction equipment manufacturing giant’s operating income was also down in Q1 2013 to $75.38 million (SEK 500mn), compared to $314.97 million (SEK 2,089mn) in the first quarter of 2012, while operating margin was 4.1%, down from 11.6% in Q1 2012. Volvo CE said it
    Read More
  • VDMA reports equipment orders
    July 21, 2020
    The VDMA is reporting a drop in equipment orders.
    Read More
  • 2-4 year-old construction equipment tops buyer ‘wish list’
    May 11, 2012
    A leading used construction equipment auctioneer firm boss believes equipment aged between 2 and 4 years is now topping buyers’ ‘wish lists’, as 1 to 2-year-old used stocks deplete. Jonnie Keys, General Manager of Euro Auctions, said that with the cost of new equipment currently up by around 20% on prices in June 2009, the used market is still strong. “Euro Auctions has repeatedly seen over 30% of all plant sold leaving the UK and Europe for projects in Australia, South Africa, South America, Central Ameri
    Read More

Highlighted Content