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

  • Changing face of global construction industry
    February 28, 2012
    David CA Phillips reports on the changing structure of the global construction equipment industry. In 2007, the year of peak historical demand and before the onset of the international financial crisis, estimated total sales of key equipment types stood at just over 1,000,000 units, valued at approximately US$100 billion. By 2009 sales had fallen to around 600,000 units valued at around $65 billion. The consequences of the global financial recession were dramatic and immediate, and remain with us today, and
    Read More
  • Sales gain for Italian manufacturers
    February 22, 2016
    An upswing is being seen in construction machine sales in Italy, according to the latest official figures. The data from the Samoter-Prometeia Observatory reveal increases in key markets. Gains have been seen in Europe (+7.7%), Central and Eastern Europe and Turkey (+3.7%), North America (+23.1%), Central and South America (+6.3%), Middle East (+26.3%), Asia (+28.7%), Australia (+23.5%) and Africa (+2.5%). However the figures also show another sharp fall in Russia (-62.8%).
    Read More
  • Volvo CE posts optimistic results
    February 7, 2014
    Volvo Construction Equipment is posting optimistic financial results that show an increase in deliveries in the fourth quarter of 2013. The firm reports deliveries climbing by 9% as global markets show sign of improvement. A slowly recovering global market helped Volvo Construction Equipment round off 2013 with sales up 3% in the fourth quarter and improved market share, especially in compact equipment. When adjusted for currency movements net sales increased further – to 6%. These improved figures are due
    Read More
  • Chinese construction machine manufacturers bullish as market recovers
    April 23, 2018
    Chinese manufacturers are increasing sales of construction machines both in their home market and also for export. This is the claim from Wang Guiqing, vice president of China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME). Wang said that demand for machines in China has increased as market conditions have improved, while the impact of the Belt and Road strategy for developing infrastructure is a massive benefit for export sales. As many projects are now commencing
    Read More

Highlighted Content