News service and business centre for materials handlingHOME

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."
Discuss News stories in the Discussion Forums!
Forkliftaction Media Pty Ltd
PO Box 1439
Milton QLD 4064
About Forkliftaction
The Forkliftaction Team
Privacy Policy
Site Map
Business Directory
Discussion Forums
Industry News
Events Calendar
Jobs & Resumes
Photo Galleries
Blog articles
Our Bloggers

Industry Brands
Company Index
Regions & Countries

Advertise on Forkliftaction
Editorial Features / Calendar
Featured Businesses
Past News Editions
Industry Associations
Storing your login information automatically.

When you select the 'Remember me' option, your login information will be stored on your computer in the form of a cookie. When you visit again, the stored login information will be retrieved automatically and you will not have to submit your login parameters (email address and password) each time you want to visit our members-only pages.

A cookie is a small piece of data that is sent to your browser from a web server and stored on your computer's hard drive. A cookie can't read data off your hard disk or read cookie files created by other sites. Cookies do not damage your system.