Profile: Terex Corp (TEX.N)
29 Aug 2014
Terex Corporation, incorporated on October 30, 1986, is a diversified global equipment manufacturer of machinery products. The Company is focused on delivering reliable, customer-driven solutions for a wide range of commercial applications, including the construction, infrastructure, quarrying, mining, manufacturing, shipping, transportation, refining, energy and utility industries. In June 2014, the Company sold its truck business to Volvo Construction Equipment.
The Company operates in five business segments: Aerial Work Platforms, Construction, Cranes, Material Handling & Port Solutions and Materials Processing. The Company products are manufactured in North and South America, Europe, Australia and Asia and sold worldwide.
Aerial Work Platforms
The Company’s Aerial Work Platforms (AWP) segment designs, manufactures, refurbishes, services and markets aerial work platform equipment, telehandlers, light towers, bridge inspection equipment and utility equipment. Products include portable material lifts, portable aerial work platforms, trailer-mounted articulating booms, self-propelled articulating and telescopic booms, scissor lifts, telehandlers, trailer-mounted light towers, bridge inspection equipment and utility equipment ,including truck-mounted digger derricks, auger drills, aerial devices and cable placers as well as their related components and replacement parts. Customers use these products to construct and maintain industrial, commercial and residential buildings and facilities, construct and maintain utility and telecommunication lines, trim trees, in construction and foundation drilling applications and for other commercial operations, as well as in a range of infrastructure projects.
Aerial work platform equipment is manufactured in Redmond and Moses Lake, Washington, Umbertide, Italy, Coventry, England and Changzhou, China; Telehandlers are manufactured in Moses Lake, Washington and Umbertide, Italy; Trailer-mounted light towers, trailer-mounted articulated booms and bridge inspection equipment are manufactured in Rock Hill, South Carolina and Hosur, India, and Utility products are manufactured in Watertown and Huron, South Dakota, Betim, Brazil and Changzhou, China.
The Company has aerial work platform refurbishment facilities located in Waco, Texas and Stockton, California. Additionally it operates a network of service locations that service and support utility products, aerial devices and a variety of other Terex products throughout the United States. It has a parts and logistics center located in North Bend, Washington for its aerial work platform equipment.The Company offers a variety of aerial lifts that are categorized into seven product families: portable material lifts; portable aerial work platforms; trailer-mounted articulating booms; self-propelled articulating and self-propelled telescopic booms; scissor lifts; and bridge inspection equipment.
The Company competes with Oshkosh (JLG), Vestil, Sumner, Haulotte, Linamar (Skyjack), Tanfield (Snorkel) , Aichi, Caterpillar and Lull brands), JCB, CNH, Merlo, Allmand Bros., Magnum, Doosan, Moog USA , Barin, Altec and Time Manufacturing (Versalift).
The Company’s construction segment designs, manufactures and markets three primary categories of construction equipment and their related components and replacement parts: heavy construction equipment, including off-highway trucks and material handlers; compact construction equipment, including loader backhoes, compaction equipment, mini and midi excavators, site dumpers, compact track loaders, skid steer loaders, wheel loaders and tunneling equipment, and roadbuilding equipment, including asphalt and concrete equipment, including pavers, transfer devices, plants, mixers, reclaimers/stabilizers, placers and cold planers and landfill compactors. It manufactures and markets off-highway trucks and material handlers.
Articulated off-highway trucks are three-axle, six-wheel drive machines with an articulating connection between the cab and body that allows the cab and body to move independently, enabling all six tires to maintain ground contact for traction on rough terrain. Rigid off-highway trucks are two-axle machines, which generally have larger capacities than articulated off-highway trucks, but can operate only on improved or graded surfaces, and are used in construction or infrastructure projects, aggregates and smaller surface mines. Material handlers are designed for handling logs, scrap, recycling and other bulky materials with clamshell, magnet or grapple attachments.
The Company competes with Volvo, Caterpillar, Doosan, John Deere, Bell, Liebherr, Komatsu, Sennebogen, Linkbelt, Exodus, Kubota, Kawasaki, John Deere, Hitachi, CNH, Bomag, Amman, Dynapac, Hamm, Yanmar, Neuson, Thwaites, AUSA, Fayat (Bomag), Wirtgen (Ciber and Vogele), Atlas Copco (Dynapac), Astec (Roadtec), Gencor Corporation, All-Mix, Ciber, ADM, Con-E-Co, Erie Strayer, Helco, Hagen, Stephens, Gomaco, Wirtgen, Power Curbers, Guntert & Zimmerman, Continental Manufacturing and Al-Jon.
The Company’s cranes segment designs, manufactures, services and markets mobile telescopic cranes, tower cranes, lattice boom crawler cranes, lattice boom truck cranes and truck-mounted cranes (boom trucks), as well as their related components and replacement parts. Cranes products are used primarily for construction, repair and maintenance of commercial buildings, manufacturing facilities and infrastructure projects. It offers a variety of cranes, including mobile telescopic cranes, tower cranes, lattice boom crawler cranes, lattice boom truck cranes and boom trucks.
Mobile telescopic cranes are used primarily for industrial applications, in commercial and public works construction, and in maintenance applications to lift equipment or material. Tower cranes are often used in urban areas where space is constrained and in long-term or building sites. The Company manufactures telescopic boom cranes and articulated hydraulic cranes for mounting on a commercial truck chassis. Lattice boom crawler and lattice boom truck cranes are designed to lift material on rough terrain and can maneuver while bearing a load. The boom is made of tubular steel sections, which, together with the base unit, are transported to and erected at a construction site. Applications include wind turbine erection. Truck-mounted cranes are used primarily in the construction and maintenance industries to lift equipment or materials to various heights.
The Company competes with Liebherr, Manitowoc (Grove), Tadano-Faun, Sumitomo (Link-Belt), XCMG, Kato, Sany, Comansa, Zoomlion, Wolffkran, Hitachi, Kobelco, Fushun, Altec and Manitex.
Material Handling & Port Solutions
The Company’s Material Handling & Port Solutions (MHPS) segment designs, manufactures, refurbishes, services and markets industrial cranes, including standard cranes, process cranes, rope and chain hoists, electric motors, light crane systems and crane components as well as a diverse portfolio of port and rail equipment, including mobile harbor cranes, straddle and sprinter carriers, gantry cranes, ship-to-shore cranes, reach stackers, empty container handlers, full container handlers, general cargo lift trucks, automated stacking cranes, automated guided vehicles and terminal automation technology, including software, as well as their related components and replacement parts. Customers use these products for material handling at manufacturing and port and rail facilities. Its MHPS segment also operates a global sales and service network.
The Company manufactures standard cranes, process cranes and components, such as rope hoists, chain hoists, light crane systems, travel units and electric motors. Standard cranes are configured individually from standardized modules for industrial infrastructure applications. The Company manufactures mobile harbor cranes, wide span gantry cranes, ship-to-shore gantry cranes, rubber tired and rail mounted gantry cranes, straddle carriers, sprinter carriers, reach stackers, empty container handlers, full container handlers, general cargo lift trucks, automated stacking cranes, automated guided vehicles and software solutions for logistic terminals. It offers a range of services for cranes and lifting equipment consisting of field services, refurbishment and spare parts, as well as consultancy and training services regarding the use of its crane systems. The Company's services are provided on its own products and also on third-party products and related equipment.
The Company competes with Konecranes, Columbus McKinnon, ABUS, Kito, GH , OMIS, Liebherr, Cargotec, Zhenua Port Machinery (ZPMC), Kunz, Hyster, Taylor, Dalian, CVS Ferrari, Zhenua Port Machinery (ZPMC), Doosan, Hyundai, Mitsui Engineering & Shipbuilding and Samsung.
The Company’s Materials Processing (MP) segment designs, manufactures and markets materials processing equipment, including crushers, washing systems, screens, apron feeders, chippers and related components and replacement parts. Customers use its MP products in construction, infrastructure and recycling projects, in various quarrying and mining applications, as well as in landscaping and biomass production industries. Materials processing equipment is used in processing aggregate materials for roadbuilding applications and is also used in the quarrying, mining, demolition, recycling, landscaping and biomass production industries. Its materials processing equipment includes crushers, screens and feeders, washing systems as well as wood and biomass chippers.
The Company manufactures a range of track-mounted jaw, impactor (both horizontal and vertical shaft) and cone crushers, as well as base crushers for integration within static plants. Washing system products include a completely mobile, single chassis washing plant incorporating separation, washing, dewatering and stockpiling. It manufactures mobile and stationary screening rinsers, bucket-wheel dewaterers, scrubbing devices for aggregate, a mobile cyclone for maximum retention of sand particles, silt extraction systems, stockpiling conveyors and a sand screw system as an alternative to bucket-wheel dewaterers.
The Company also manufactures washing screens, which are used to separate, wash, scrub, dewater and stockpile sand and gravel. Biomass chippers are used by biomass producers, land developers and contractors to produce chips for energy or for the clearing of sites. Hand-fed chippers are used by landscapers, rental companies, utilities, arborists, and municipalities to cut tree limbs or trunks into wood chips.
The Company competes with Metso, Astec Industries, Sandvik, Komatsu, Kleemann, McLanahan, CDE Global , GreyStone, Vermeer, Bandit and Morbark.
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 provide financing solutions to its customers who purchase its equipment. TFS provides financing support primarily by facilitating loans and leases between its customers and third party financial institutions, in the United States and on a limited basis in China, originating, underwriting, documenting, funding and servicing financing transactions directly with end-user customers, distributors and rental companies and in a few countries in Europe, purchasing receivables associated with Terex equipment financings that were originated by third party financial institutions. TFS also provides sales-type leases, operating leases and rentals. TFS also sells loans and leases to financial institutions with which it has established relationships.
200 Nyala Farm Road
WESTPORT CT 06880