Terex: SEC investigates restatements

News Story
- 8 Sep 2005 ( #225 ) - WESTPORT, CT, United States
1 min read
Telehandler manufacturer Terex Corp has announced that the Securities & Exchange Commission (SEC) is investigating the restatement of its reports for 2000 to 2003 and other past transactions.

Terex said it had also received a subpoena from SEC requiring it to produce documents connected to transactions between Terex, its subsidiaries, and United Rentals, in 2000 and 2001.

Terex said it would voluntarily provide the SEC with information.

According to Dow Jones News Service, Terex is a major supplier to United Rentals. In June, Terex chairman and chief executive Ronald Defeo resigned from the United Rentals board to avoid potential conflicts of interest.

Early this year, Terex announced it was restating past financial statements after an internal audit of intercompany transactions found accounting errors (Forkliftaction.com News #192).
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Check out our new website and get in touch with us today! 

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You might want to check out our service portal as well – it backs you up 24/7!

Industrial processes in paper and waste processing involves strapped bale handling and de-wiring. Durwen provides the smart solution for the industry, with its fully Durwen designed and made de-wiring bale clamp. Expensive factory part equipment was needed yesterday - use the smart solution from Durwen in future!

Check out our new website and get in touch with us today! 

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