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Solid growth for Terex


Wednesday, 8 Aug 2018 ( #884 ) - Westport, CT, United States
News Story
Terex has increased sales and backlog in itsl three segments
Terex Corporation has reported strong second quarter 2018 sales of USD1.4 billion, up 19% from Q2 of 2017, with increased sales and backlog in all three business segments. The results were driven by continued implementation of the company’s Execute to Win business strategy and its focus on meeting the growing needs of customers during a period of broad-based growth, according to the company’s report to shareholders.

Sales for the Terex Cranes business segment grew 10% to USD335 million, driven by higher demand while constrained by global supply chain challenges. The global cranes markets are generally stable, with growth in certain areas. Indications for the future are positive, with Terex Cranes ending Q2 with backlog up 31% from the same period in 2017.  

"We delivered very strong results in the second quarter. Our global team continued to execute well and continued the trend of improving overall performance," says John L. Garrison, Terex president and CEO.

"We 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."

Steve Filipov, president Terex Cranes, adds: "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.  A critical element of our cranes improvement plan is to successfully introduce new products. The three-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."
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