Genie parent company Terex Corp reports improved performance in 2011 in its aerial work platforms (AWP) segment and forecasts positive developments during 2012.

"In our AWP business, we see strong demand and a growing backlog from a more diverse mix of customers," says Ronald DeFeo, Terex chairman and chief executive officer. "More than half of our North American net sales for aerials came from smaller independent rental customers in the fourth quarter of 2011. We also expect margins to be meaningfully improved in 2012 as 2011 pricing actions take hold."

Regarding the AWP segment, "our outlook is positive, with the North American rental channel in a full replacement cycle and in need of new equipment", DeFeo reports. "Operating margin is expected to be in the 10%-11% range for 2012, driven by price realisation and productivity enhancements." Under the Genie and Terex brands, the AWP segment designs, manufactures, refurbishes, services and markets aerial work platform equipment, telehandlers, scissor lifts, telescopic and articulating booms, light towers and utility equipment.

Terex has other segments for cranes, materials processing, materials handling and port solutions and construction.

For the fourth quarter ended 31 December, the AWP segment recorded sales of USD437.4 million versus the comparable 2010 quarter sales of USD342.8 million.

Companywide for continuing operations, Westport-based Terex reports profit of USD38.8 million on 2011 net sales of USD6.50 billion, compared to a net loss of USD215.5 million on 2010 net sales of USD4.42 billion.

"During 2011, we made significant investments and improvements and implemented actions to set us on a course toward improved profitability in 2012 and beyond," DeFeo says. "We have seen further recovery in many of our end markets as utilisation rates improve and existing fleets age. This is consistent with an overall improving construction and economic environment. Emerging economies continue to grow most rapidly, along with solid performance in North America. This has helped offset some of the continuing weakness in several European markets."

Terex forecasts assume there is not a material worsening of the European debt crisis.