SOURCE: Terex | May 13, 2019
The Terex Materials Processing (MP) segment of Terex Corporation posted sales of US$346m in the first quarter of 2019, an increase of 10% on Q1 2018.
It says the increase was driven by continued strong global demand for crushing and screening products, material handlers and pick and carry equipment.
Terex MP adds that its backlog also continued to grow in Q1 this year, up 11% on the first quarter of 2018 to US$499m. The brand says it is well positioned across its portfolio of businesses to deliver excellent results again in 2019.
“We had a great start to 2019 thanks to strong global demand driven by construction activity, aggregate consumption and robust demand for scrap steel,” said Kieran Hegarty, president Terex MP. “We expect strong results to continue fueled by innovations that will excite our existing customers and geographic expansion that will enable us to serve more customers globally.”
At last month’s bauma construction expo in Munich Terex MP showcased its new “OMNI by Terex” tablet-based control system that uses Internet of Things technology to improve safety and productivity at crushing and screening jobsites.
“Geographically, we’re seeing increasing demand for our products in regions such as India – so we are expanding our Hosur facility to better serve customers throughout the region,” Hegarty added.
The Terex MP portfolio covers the Powerscreen, Terex Minerals Processing Systems, Terex Finlay, EvoQuip, Terex Washing Systems, Fuchs, CBI, Terex Ecotec, and Terex Concrete Products brands.
Terex Corporation as a whole had net sales of US$1.1bn in Q1 2019, up 2% on the first quarter of 2018. Terex says backlog also increased by 2% versus a strong Q1 2018 comparison, to US$1.7bn, with global markets for all product categories generally stable at healthy levels.
“Overall we had a strong first quarter,” said John Garrison, Terex chairman and CEO. “We continue to invest in our Execute to Win business system, which remains focused on enhancing our capabilities in commercial excellence, lifecycle solutions and strategic sourcing and we are seeing benefits from each of these areas in how we are executing for our customers as well as our financial performance.”
To comment on this story or for additional details click on related button above.