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|Type||Public (NYSE: TEX)|
|Predecessor||Northwest Engineering Company|
|Headquarters||Westport, Connecticut, United States|
|Key people||Ronald M. DeFeo, Chairman and CEO|
Aerial work platforms|
|Revenue (turnover)||US$4.043 billion|
Terex Corporation is a diversified global manufacturer of a broad range of heavy equipment for a variety of industries, including construction, infrastructure, quarrying, recycling, surface mining, shipping, transportation, refining, utility and maintenance. The company's major business segments include aerial work platforms, construction, cranes, materials processing & mining, and roadbuilding and utility products. Terex has more than 18,000 employees known as team members and operates 50 manufacturing facilities in North America, South America, Europe, Asia and Australia. Terex sells its products in more than 170 countries.
Terex grew out of the forced divestment of General Motors of some construction plant lines in some areas as part of the American Governments anti-monopoly drive in the 1960s (The Clayton Act) after General Motors grew so large they controlled a large proportion of the US manufacturing
Terex was formed from part of GM's Euclid division, with most of the original Euclid lines and name being sold to the White Motor Company in 1968. The name Terex was first adopted as a brand in 1968 to replace Euclid. The construction division was renamed as the "Terex" division of GM in July 1970. The division introduced a range of new dump trucks and carried on building some former Euclid lines in the UK at their Glasgow factory (as the divestment ruling did not apply to UK and some other overseas markets). GM then decided to divest them selves of the Terex division to concentrate on Cars in the 1980s, selling Terex to the IBH Group of Germany in 1981, retaining a 13.6% stake (increased to 17.9% by May 1982). The IBH Group went Bankrupt in 1983 after a German bank collapsed and Terex-USA filed for Chapter 11 protection in the USA. GM bought back the UK operation as Terex Equipment limited. By 1986 the US Terex operation had emerged from Chapter 11 protection and was sold to Northwest Engineering of Wisconsin. They then bought the UK Terex operation from GM in June 1987. Some of the US plants were not part of the deal with GM. Northwest then renamed itself as Terex Corporation in May 1988. Thus the modern Terex company was born.
- Main article: Euclid
Growth Through AcquisitionEdit
Terex Corporation has grown considerably over the past few years, mainly through a combination of acquisitions designed to expand the company’s product offering, improve geographic coverage and deliver value for its customers. More than half its total annual sales now come from outside the United States. Terex had net sales of approximately $7.6 billion in 2006, making it the world’s third largest construction equipment manufacturer, behind only Caterpillar of America and Komatsu of Japan. The company’s 11-year compounded annual sales growth rate is 28 percent.
After the close of trading on December 19, 2006, Terex replaced Navistar International in the S&P 500 Index. The Company is currently listed at 314 on the Fortune 500 annual listing of companies, a 41-place advance in one year.
As part of its growth plan, Terex is focusing on building a franchise under the Terex brand name, which means that the company is migrating the historic brand names for many of its products to the Terex brand. In some cases, The Terex name will be used in conjunction with the historic brand name. Recent acquisitions have made Terex companies leaders in a variety of industries. Some notable examples include: the German crane company Demag in Zweibrücken, now known as Terex-Demag; Genie Industries (aerial work platforms); Schaeff and Fuchs (compact equipment); Advance Mixer (concrete mixing); Noble CE (Terex Mexico, high capacity surface mining trucks and components). In late 2003, Terex purchased a controlling interest in Tatra, which it subsequently sold in 2006.
Divestment / DisposalsEdit
Terex during 2008 as part of its integration of the various and diverse range of brands started to look at divesting some of the ancillary product lines as part of it global review of operations.
Autumn 2009 saw the disposal of the Terex Load King division to Manitex International, Inc. in the USA.
Boom truck and rough terrain forklift manufacturer Manitex agreed to pay US$3.1 million for the Dakota-based manufacturer of specialized trailers from the Genie Industries subsidiary of Terex Corporation. Load King average annual revenue is about $23 million according to Manitex. Manitex manufacture Manitex Boom Trucks, SkyCrane Aerial Platforms and Sign Cranes and USTC Trolley Boom Products, as well as TrailerMate truck mount forklifts.
Winter 2009 saw the announcement that the mining division was to be sold to Bucyrus for $1.3 billion to allow a reduction in debt and acquisitions in other niche products associated with its industrial business. The brands and product lines sold to Bucyrus were seen as a better fit to the global network of specialist mining machinery. Brands divested include O&K, Unit rig, Reeddrill, Superior Highwall, Hypac, and Highco.
In January 2010 they announced that the Aerial Work Platforms division had sold off two of its non-AWP product lines: its generator line, which was sold to Cummins Power Generation, and the Terex Power Buggy range was sold to Indy Equipment, an equipment dealer in Independence, Ohio, USA. In both cases the sale price was undisclosed.
The Generator lines had previously been branded and sold under the Cummins Power brand and used Cummins engines, but were assembled by Terex in its facility.
Through the integration of some of the most respected companies in the industry, the Terex family of brands provides a diverse and comprehensive product line backed by years of innovation, technical expertise, and sound quality.
Terex was formerly a division of General Motors, the General Motors Euclid Division. The plant was established in Hudson, Ohio (on land then part of Hudson Township) in 1957. A bypass connecting Ohio State Route 303 to Ohio State Route 91 was built and named Terex Road. The plant closed in the late 1980s. Today, the building is used for office and warehouse space. Jo-Ann Stores is headquartered there. It owns most of the building and is its largest tenant. A Regal Cinemas, built in 1994, is located on the southwest corner of the property.
In the 1970s, Terex produced the world's largest truck, the Terex Titan. The single prototype produced served until 1990.
Post-GM, much of Terex' "street legal" product use various configurations of Ford truck chassis.
Culture of continuous improvementEdit
As a company whose brand is evolving with the organization, Terex is committed to growth through continuous improvement in all aspects of its business. In 2005, the company introduced its blueprint for growth called the Terex Business System (TBS). TBS is built on four pillars that are key elements of its operating culture: customer focus, planning and deployment, operational excellence across the value chain, and new product and service development. In turn, excellence in these areas is built on a foundation of commitment to leadership, superb human resource practices, and customer-driven business processes whose center piece is continuous improvement.
In his chairman’s message opening the company’s 2006 annual report, Ronald DeFeo wrote: “We continue to view Terex as a young company, with significantly more potential in front of us than past success behind us. There is no doubt that Terex is maturing. We are building the operating capability and strength of our franchise, We are doing this with great leadership and a global footprint. And we are still in the early days of this evolution.”
Over the last few years Terex has started to unify its image
Terex Historic BrandsEdit
Bid-Well| Terex Demag| Terex Pegson| Genie| Terex Finlay| Terex Peiner| Loegering| Terex Franna| Terex PPM| Powerscreen| Terex Fuchs| Terex Reedrill| Terex American| Terex Halco| Terex Roadbuilding| Terex Bendini| Terex Hydra Platforms| Terex SHM| Terex Canica| Terex Jaques| Terex Simplicity| Terex Cedarapids| Terex Load King| Terex Unit Rig| Terex Comedil| Terex O&K |
Terex Distribution Centers Terex Minerals Processing
Historic Terex Brands Terex Advance| Terex American Truck Company| Terex Amida| Terex ASV| Terex Atlas| Terex Bartell| Terex Benford| Terex Cifali| Terex CMI| Terex Fermec| Terex Johnson-Ross| Terex Morrison| Terex Muller| Terex Schaeff| Terex Telelect| Terex | Standard Havens|
Terex name in conjunction with these historic brand names:
- Advance, -
- American, - America, Cranes
- American Truck Company, -
- Amida, -
- ATC, -
- Atlas, - Germany, Materials handlers, Excavators, wheeled excavators
- Bartell, -
- Bendini, -
- Benford - UK, Dumpers,
- Bid-Well, -
- Canica, -
- Cedarapids, -
- CMI, CMI-Cifali, CMI Johnson-Ross, -
- Comedil, - Italy, Cranes
- Demag, - Germany, Cranes (Mining excavator lines were bought by Komatsu
- ELJay, -
- Fermec, - UK, Excavators & Mini diggers (ex Massey Ferguson Construction range)
- Finlay, - Paving machines
- Franna, -
- Fuchs, - Germany, Materials handling / specialist excavators
- Genie, - Elevating work platforms
- Hi-Ranger, -
- Jaques, -
- Load King, -
- Morrison, -
- O&K, - Germany Mining excavator range. (CNH Global has acquired the smaller machine lines)
- Pegson, - UK Crushers
- Peiner, -
- Powerscreen, - Northern Ireland, Screening plant
- PPM, - Mobile Cranes
- Reedrill, -
- Schaeff, - Germany, Mini Excavators & compact loaders
- Simplicity, -
- Standard Havens, -
- Tatra - Czech trucks
- Tatra-Vectra - Indian trucks joint venture
- Telelect, -
- TerexLift -
- Terex Vectra - Indian backhoes and skid-steer loader joint venture
- Unit Rig. - USA
The Company had a major restructuring of production units world wide in 2001. Shutting several plants in the US and Europe. In the UK, the operations of Matbro (telehandlers) in Tetbury and the Benford (dump trucks) in Warwick are being moved to the Fermec (backhoe loaders) factory in Manchester. Terex Aerials’ factory in Cork, Ireland is also being closed.
The company has 48 plants world wide in 2006 with more under construction in China, and India.
- UK -
- Germany - O&K
- USA - Euclid
- China - North Hauler
- Main article: List of Terex Models
- Terex O&K RH340-B - 2005 552 ton 34 cu m bucket with a 1880 kW engine.
- Terex O&K RH70 - 700 hp Caterpillar C18
- Terex TA25 - 2004 (Updated 2006) Cummins QSC8.3 engine
- Terex TA27 - 2004 (Updated 2006) 20 cu m. capacity powered by a 365 hp Cummins QSM 11 6-cylinder. (trucks built in Motherwell, Scotland)
- Terex TA30 - 2004 (Updated 2006) Cummins QSM11
- Terex TA35 - 2006 Detroit Diesel
- Terex TA40 - 2006 Detroit Diesel
|Model||Year(s) Produced||Horsepower||Engine Type||Misc Notes||Photo|
|Terex TLB 740S backhoe||76 hp (57 kW)||Kirloskar||built in India by Terex Vectra|
|Terex TLB 844S backhoe||90 hp (67 kW)||Kirloskar||built in India by Terex Vectra|
|Terex TX750 backhoe||Fermec|
|Terex TX760 backhoe||Fermec|
|Terex TX760B backhoe||86 hp (64 kW)||Perkins|
|Terex TX860 backhoe||Fermec|
|Terex TX860B backhoe||94 hp (70 kW)||Perkins|
|Terex TX870B backhoe||94 hp (70 kW)||Perkins|
|Terex TX960 backhoe||Fermec|
|Terex TX970B backhoe||94 hp (70 kW)||Perkins|
|Terex TX965 backhoe||Fermec|
|Terex 760 backhoe|
|Terex 760B backhoe||86 hp (64 kW)||Fermec|
|Terex 820 backhoe||92 hp (69 kW)||Perkins|
|Terex 860 Elite backhoe||100 hp (75 kW)||Perkins||built in England|
|Terex 860SB backhoe||Fermec|
|Terex 860SE backhoe||96 hp (72 kW)|
|Terex 860SX backhoe||100 hp (75 kW)||Perkins|
|Terex 880 Elite backhoe||100 hp (75 kW)||Perkins||built in England|
|Terex 880SX backhoe||100 hp (75 kW)||Perkins|
|Terex TLB840 backhoe||96 hp (72 kW)||built in England|
|Terex TLB890 backhoe||100 hp (75 kW)||Perkins||built in England|
|Tererx TLB990 backhoe||100 hp (75 kW)||Perkins||built in England|
- See Comdile for history
|Model||Year(s) Produced||Horsepower||Engine Type||Misc Notes||Photo|
|Terex D600D crawler||built in USA|
|Terex D700A crawler||205 hp (153 kW)||Detroit Diesel||built in USA|
|Terex L600D crawler||144 hp (107 kW)||Hanomag|
|Terex 82-20AA crawler||built in USA|
|Terex 82-20B crawler|
|Terex 82-30 crawler||220 hp (160 kW)||built in USA|
|Terex 82-30B crawler||260 hp (190 kW)|
|Terex 82-40 crawler||290 hp (220 kW)||built in USA|
|Terex 82-50 crawler||built in USA|
- see Pegson for history
Dumpers & Dump TrucksEdit
- Early Dumper truck models were former Euclid models.
- Terex TR70 65 tonne Quarry truck 760 hp Detroit Diesel (built in Motherwell, Scotland)
- Site dumper are from the former Winget dumper lines
- Terex PS2000 - 2 ton side tip Kubota engine
- Terex PS3000 - 3 ton side tip
- Terex PS2000 - 4 ton side tip Cummins engine
- See O&K for history of larger units
- Terex TC75 - 7.5 ton reduced tail swing
- Terex TC120 - 12 ton
- Terex TC140 - 14 ton
- Terex TC170 - 17 ton
- Terex TC210 - 21 ton
- Terex TC225 - 22 ton
- Terex TC240 - 24 ton
- Terex TC260 - 26 ton
- Terex TC330 - 33 ton
- Terex TC350 - 35 ton
- Terex TC210
- Terex TC850 - 2006 85 ton 600 hp based on the O&K RH30
Terex has sold the mining excavator product lines to Bucyrus in late 2009.
- Terex TG110 - 2006 11.5 ton 132 hp Cummins engine
- Terex TG150 - 2006 14.5 ton
- Terex TG190 - 2006 18.5 ton
- Terex TG210 - 2006 21 ton 229 hp Cummins engine
Former Euclid products manufactured in Scotland became Terex branded models.
Screens & CrushersEdit
- see Powerscreen for historic details and current models
- Most were formerly produced under the ASV name
|Model||Year(s) Produced||Horsepower||Engine Type||Misc Notes||Photo|
|Terex Heman 175 skid-steer||65 hp (48 kW)||Cummins||built in India by Terex Vectra|
|Terex PT-30 skid-steer||32.7 hp (24.4 kW)||]|
|Terex PT-50 skid-steer||50 hp (37 kW)|
|Terex PT-60 skid-steer||60 hp (45 kW)|
|Terex PT-70 skid-steer||71 hp (53 kW)|
|Terex PT-80 skid-steer||80.5 hp (60.0 kW)|
|Terex PT-100 skid-steer||100 hp (75 kW)|
- see Comdil article for historic models and current products.
- Terex SKL160 - ? 1.6 cu.m 100 hp Deutz Engine
- Terex SKL200 - ? 2.0 cu.m 140 hp Deutz
- Terex SKL260 - ? 2.6 cu.m 172 hp Deutz
- Terex TL360 - 2006 3.6 cu.m Cummins engines and ZF transmission
- Terex TL420 - 2006 4.2 cu.m
- Terex TL450 - 2006 4.5 cu.m
- Terex TL510 - 2006 5.1 cu.m
- List of Construction Plant Manufacturers
- List of Engine Manufacturers
- SED - Annual UK plant show for construction industry held at Corby (formerly Milton Keynes)
- Hillhead - UK Bi annual Quarry industry show held at Buxton
- BURMA - European Plant show
- CONEX - American plant exposition in Las Vegas
- List of Plant Dealers
- Shows and Meets
- ↑ "10 Largest Dump Trucks on Earth".
- ↑ Reuters article about S&P 500 listing. Retrieved on 2006-12-19.
- ↑ TEREX Corporation - About TEREX - Contact Us. Retrieved on 2006-11-24.
- ↑ www.khl.com news item Loadking sale to Manitex
- ↑ www.manitex.com products
- ↑ www.khl.com news report Dec 2009
- ↑ www.khl.com news release
- ↑ Terex Brands. Retrieved on 2007-06-25
- ↑ Summit County Fiscal Office Property Card. Retrieved on 2006-11-24.
- ↑ Terex Business System. Retrieved on 2006-06-25
- ↑ Ronald DeFeo. Retrieved on 2007-06-25.
- ↑ Cranes today news report
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