About Terex

Terex Corporation (Terex) operates as a global manufacturer of materials processing machinery and aerial work platforms. The company designs, builds and supports products used in maintenance, manufacturing, energy, recycling, minerals and materials management, and construction applications. Certain Terex products and solutions enable customers to reduce their impact on the environment, including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. The company’s products are manufactured in North America, Europe, Australia and Asia; and sold worldwide. The company engages with customers through all stages of the product life cycle, from initial specification to parts and service support. Segments The company operates through Materials Processing (‘MP’) and Aerial Work Platforms (‘AWP’) segments. MP The company’s MP segment designs, manufactures, services and markets materials processing and specialty equipment, including crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and their related components and replacement parts. Customers use these products in construction, infrastructure and recycling projects, in various quarrying and mining applications, as well as in landscaping and biomass production industries, material handling applications, maintenance applications to lift equipment or material, moving materials and equipment on rugged or uneven terrain, lifting construction material and placing material at point of use. The company markets its MP products principally under the following brand names and business lines: Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, MARCO and Terex Recycling Systems. MP has the following significant manufacturing operations: Mobile crushers are manufactured in Omagh, Northern Ireland; Mobile screens, washing systems and recycling systems are manufactured in Dungannon, Northern Ireland; Mobile crushers, mobile screens, base crushers, base screens, modular and wheeled crushing and screening plants, track conveyors, washing systems, rough terrain cranes and pick and carry cranes are manufactured in Hosur, India; Mobile and static crushing and screening equipment and base crushers are manufactured in Oklahoma City, Oklahoma; Static crushers, screens and telescopic conveyors are manufactured in Subang Jaya, Malaysia; Crushing and screening equipment is manufactured in Durand, Michigan; Mobile crushers and crushing chambers are manufactured in Coalville, England; Wood processing, biomass and recycling equipment systems, mobile screens and tracked conveyors are manufactured in Campsie, Northern Ireland; Fabrications, sub-assemblies and steel kits are manufactured in Ballymoney and Cookstown, Northern Ireland; Wood processing, biomass and recycling equipment systems are manufactured in Newton, New Hampshire; Material handlers are manufactured in Bad Schönborn, Germany and Changzhou, China; Concrete pavers are manufactured in Canton, South Dakota; Front discharge concrete mixer trucks are manufactured in Fort Wayne, Indiana; Volumetric concrete mixers are manufactured in Olds, Alberta, Canada; Pick and carry cranes are manufactured in Brisbane, Australia; Rough terrain cranes are manufactured in Crespellano, Italy; Tower cranes are manufactured in Fontanafredda, Italy; Mobile crushers and mobile screens are manufactured in Jiading, China; Mobile and static trommel screens are manufactured in Monaghan, Ireland; and Bulk material handling conveyors are manufactured in Mount Vernon, Missouri. The company has North American distribution centers in Louisville, Kentucky and Southaven, Mississippi; and service centers in Australia, Thailand, Turkey and Malaysia. Aerial Work Platforms (AWP) The company’s AWP segment designs, manufactures, services and markets aerial work platform equipment, utility equipment and telehandlers. Products include portable material lifts, portable aerial work platforms, trailer-mounted articulating booms, self-propelled articulating and telescopic booms, scissor lifts, utility equipment (including digger derricks and insulated aerial devices) and telehandlers, as well as their related components and replacement parts. Aerial work platform equipment positions workers and materials easily and quickly to elevated work areas, enhancing safety and productivity at height. Customers use these products to construct and maintain industrial, commercial, institutional and residential buildings and facilities, for construction and maintenance of transmission and distribution lines, tree trimming, certain construction and foundation drilling applications, and for other commercial operations, as well as in a wide range of infrastructure projects. The company markets aerial work platform products principally under the Terex and Genie brand names. AWP has the following significant manufacturing operations: Aerial work platform equipment is manufactured in Redmond and Moses Lake, Washington, Umbertide, Italy, Changzhou, China and Monterrey, Mexico; Utility products are manufactured in Watertown and Huron, South Dakota and Changzhou, China; and Telehandlers are manufactured in Umbertide, Italy and Monterrey, Mexico. The company has a parts and logistics center located in North Bend, Washington for the company’s AWP products. Additionally, a portion of its aerial and utility products parts business is conducted at a shared Terex facility in Southaven, Mississippi. The company’s European, Asian Pacific and Latin American parts and logistics operations are conducted through a combination of outsourced facilities and Terex managed operations. The company also provides service and support for aerial and utility products in the U.S. through a network of service branches and field service operations. Other The company may assist customers in their rental, leasing and acquisition of its products through Terex Financial Services (‘TFS’). TFS uses its equipment financing experience to facilitate financial products and services to assist customers in the acquisition of the company’s equipment. On a global basis, TFS facilitates financing transactions directly between end-user customers, distributors and rental companies; and third-party financial institutions, providing recourse in certain circumstances. Most of the transactions are fixed and floating rate loans, however, TFS also facilitates sales-type leases, operating leases and rentals. In addition, wholesale financing may be arranged between dealers and distributors who sell the company’s equipment and financial institutions with which TFS has established relationships. TFS monitors directly or uses third-party appraisal companies to provide a basis to project future values of Terex used equipment in the secondary market sales channels. These secondary market sales channels may also be used for re-marketing any equipment which is returned at end of lease, or is repossessed in the case of a customer default. If equipment is received, TFS uses the resale channel which maximizes proceeds and/or mitigates risk for Terex and the company’s funding partners. Business Strategy Terex is a manufacturer of specialized capital equipment and related services. The Terex Way continues to guide the company on how it conducts business with its stakeholders: team members, customers, stockholders, suppliers, the company’s communities and many others. It drives the company’s unwavering focus on Zero Harm Safety, strong governance, Diversity, Equity & Inclusion (DEI), responsible environmental stewardship and sustainability, and support for the communities where it lives and works. Products Materials Processing Materials Processing Equipment Materials processing equipment is used in processing aggregate materials for building applications and is also used in the quarrying, mining, construction, demolition, recycling, landscaping and biomass production industries. The company’s materials processing equipment includes crushers, screens, trommels and feeders, washing systems and conveyors, as well as wood and biomass chippers and grinders. The company manufactures a range of jaw, impactor (both horizontal and vertical shaft) and cone crushers, as well as base crushers for integration within mobile, modular and static plants. Jaw crushers are used for crushing larger rock, primarily at the quarry face or on recycling duties. Applications include hard rock, sand and gravel and recycled materials. Cone crushers are used in secondary and tertiary applications to reduce a number of materials, including quarry rock and riverbed gravel. Horizontal shaft impactors are primary and secondary crushers. They are typically applied to reduce soft to medium hard materials, as well as recycled materials. Vertical shaft impactors are secondary and tertiary crushers that reduce material utilizing various rotor configurations and are highly adaptable to any application. The company’s screening and feeder equipment includes: Heavy duty inclined and horizontal screens and feeders, which are used in low to high tonnage applications and are available as either stationary or heavy-duty mobile equipment. Screens are used in all phases of plant design from handling quarried material to fine screening. Dry screening is used to process materials, such as sand, gravel, quarry rock, coal, ore, construction and demolition waste, soil, compost and wood chips. Feeders are used to unload materials from hoppers and bulk material storage at controlled rates. They are available for applications ranging from primary feed hoppers to fine material bin unloading. The company’s range includes apron feeders, grizzly feeders and pan feeders. Washing system products include mobile and static wash plants incorporating separation, washing, scrubbing, dewatering and stockpiling. The company manufactures mobile and stationary rinsing screens, scrubbing systems, sand screw dewaterers, bucket-wheel dewaterers, water management systems, hydrocyclone plants for efficient silt extraction and a range of stockpiling conveyors. Washing systems operate in the aggregates, recycling, mining and industrial sands segments. Wood processing, biomass and recycling equipment includes shredders, grinders, trommels, chippers and specialty systems. This equipment is used in, among other things, recycling, wood energy, green waste/construction, demolition recycling industries and pulp and paper. Robotic waste sorting equipment consists of smart robots, powered by AI software, designed to pick, sort and recycle waste. The company manufacture a range of conveyors which include tracked and wheeled mobile conveyors. Conveyors are mechanical machines used to transport and stockpile materials, such as aggregates and minerals after processing. Specialty Equipment The company manufactures material handlers, cranes, concrete mixer trucks, volumetric concrete mixers, concrete pavers and robotics waste sorting equipment. Material handlers are designed for handling logs, scrap, recycling and other bulky materials with clamshell, magnet or grapple attachments. Pick and carry cranes are designed for a wide variety of applications, including use at mine sites, large fabrication yards, building and construction sites and in machinery maintenance and installation. They combine high road speed with all-terrain capability. Rough terrain cranes move materials and equipment on rugged or uneven terrain and are often located on a single construction or work site for long periods. Rough terrain cranes cannot be driven on highways (other than in Italy) and accordingly must be transported by truck to the work site. Tower cranes are often used in urban areas where space is constrained and in long-term or high-rise building sites. Tower cranes lift construction material and place the material at the point of use. The company produces self-erecting, hammerhead, flat top and luffing jib tower cranes. Concrete mixer trucks are machines with a large revolving drum in which cement is mixed with other materials to make concrete. The company offers models with custom chassis with configurations from three to seven axles. Volumetric concrete mixers provide make-to-order, mobile concrete delivery that eliminate concerns over delivery time between a concrete plant and a job site by delivering ingredients that are mixed locally and to the exact specifications of each job. The company’s concrete pavers are used to finish bridges, canals, concrete streets, highways and airport surfaces. Aerial Work Platforms Aerial Work Platforms Aerial work platform equipment positions workers and materials easily and quickly to elevated work areas, enhancing safety and productivity at height. These products have been developed as alternatives to scaffolding and ladders. The company offers a variety of aerial lifts that are categorized into six product families: portable material lifts; portable aerial work platforms; trailer-mounted articulating booms; self-propelled articulating and self-propelled telescopic booms; and scissor lifts. Portable material lifts are used primarily indoors in the construction, industrial and theatrical markets. Portable aerial work platforms are used primarily indoors in a variety of markets to perform overhead maintenance. Trailer-mounted articulating booms are used both indoors and outdoors. They provide versatile reach, and they have the ability to be towed between job sites. Self-propelled articulating booms are primarily used in construction and industrial applications, both indoors and outdoors. They feature lifting versatility with up, out and over position capabilities to access difficult to reach overhead areas. Self-propelled telescopic booms are used outdoors in commercial, industrial and institutional construction, as well as highway and bridge maintenance projects. Scissor lifts are used in indoor and outdoor applications in a variety of construction, industrial, institutional and commercial settings. Utility Equipment The company’s utility products include digger derricks and insulated aerial devices. These products are used by electric utilities, tree care companies, telecommunications and cable companies, and the related construction industries, as well as by government organizations. Digger derricks are insulated products used to dig holes, hoist and set utility poles, as well as lift transformers and other materials at job sites near energized power lines. Insulated aerial devices are used to elevate workers and material to work areas at the top of utility poles near energized transmission and distribution lines and for trimming trees near energized electrical lines, as well as for miscellaneous purposes such as sign maintenance. Self-propelled articulating insulated booms are used for substation work and other applications where electrical hazards exist but use of a bucket truck is prohibitive. Telehandlers Telehandlers are used to move and place materials on residential and commercial construction sites and in the energy and infrastructure industries. Services The company offers a range of services for aerial and utility products consisting of inspections, preventative maintenance, general repairs, reconditioning, refurbishment, modernization and spare parts, as well as consultancy and training services. The company’s services are provided on its own products and on third-party products and related equipment. Distribution Materials processing The company distributes its MP products to customers through several channels, including a global network of independent distributors, direct sales and rental companies. Aerial Work Platforms The company’s aerial work platform and telehandler products are distributed principally through a global network of rental companies and independent distributors. The company employs sales representatives who service these channel partners from offices located throughout the world. The company’s utility products are distributed to the utility and municipal markets and contractors in North America principally through a network of rental companies, independent distributors and a direct sales model. Outside of North America, independent distributors sell the company’s utility equipment directly to customers. Major Customers A material portion of AWP net sales is to national rental companies. Patents, Licenses and Trademarks The company uses several significant trademarks and trade names, most notably the Terex, Genie, Powerscreen and Fuchs trademarks. The other trademarks and trade names that the company uses include registered trademarks of Terex or its subsidiaries. Competition The company’s primary competitors for its products include the following: Materials Processing Crushing & Screening Equipment: Astec Industries, Deere (Kleeman), Keestrack, Metso, Portafill, Rubble Master and Sandvik. Washing Systems: Azfab, CDE Global, Matec, McLanahan, Metso, Phoenix Process Equipment, Superior and Weir/Trio. Wood Processing, Biomass, Recycling Equipment and Trommels: Astec Industries, Bandit, Doppstadt, Eggersmann, Jenz, Komptech, Morbark and Vermeer. Conveyors: Astec/Telestack, Deere (Kleeman), Edge, Metso/McCloskey, Puzzulona Thor, Superior and Weir/Trio. Material Handlers: Atlas, Caterpillar, Liebherr and Sennebogen. Concrete Pavers: Allen Engineering, Gomaco, Guntert & Zimmerman and Power Curbers. Concrete Mixer Trucks: Beck Industrial, Con-Tech, Continental Mixer, McNeilus and Oshkosh. Volumetric Concrete Mixers: Bay-lynx, Cemen Tech, Holcombe and Zimmerman. Pick and Carry Cranes: Ace, Escorts, Humma and TIDD. Rough Terrain Cranes: Kato, Liebherr, Link-Belt, Manitowoc (Grove), Sany, Tadano-Faun, XCMG and Zoomlion. Tower Cranes: Comansa, Jaso, Liebherr, Manitowoc (Potain), Wolffkran, XCMG and Zoomlion. Robotic Waste Sorting Technology: AMP Robotics, Max-Al, Steinert, Tomra and Waste Robotics. Aerial Work Platforms Portable Material Lifts and Portable Aerial Work Platforms: Dingli, Haulotte and Oshkosh (JLG). Boom Lifts: Dingli, Haulotte, JCB, Linamar (Skyjack), Manitou, MEC, Oshkosh (JLG), Sinoboom, XCMG and Zoomlion. Scissor Lifts: Dingli, Haulotte, JCB, LGMG, Linamar (Skyjack), MEC, Oshkosh (JLG), Sinoboom, XCMG and Zoomlion. Utility Equipment: Altec, Dur-A-Lift, Elliot Equipment, Palfinger, Posi+ and Time Manufacturing. Telehandlers: JCB, Linamar (Skyjack), Manitou (Gehl), Merlo and Oshkosh (JLG). Research and Development The company’s research, development and engineering costs were $66.7 million during 2023. History Terex Corporation, formerly known as Terex U.S.A., Inc., was founded in 1933. The company was incorporated in Delaware in 1986.