Manufacturer of cranes and construction equipment.

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200 Nyala Farm Road
Westport, CT 06880
Employees: 21,300
CEO: Ronald DeFeo
Stock Symbol: TEX

Website: http://www.terex.com

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Terex Corporation is a diversified global manufacturer operating in five business segments: Aerial Work Platforms, Construction, Cranes, Material Handling & Port Solutions and Materials Processing.

Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, manufacturing, mining, shipping, transportation, refining, energy and utility industries.

The company also offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services.

For 2013, the company reported net income of $220.9 million on sales of $7.1 billion.

"Overall, 2013 was a good year and I am pleased with the improvements and progress underway at Terex," said Ron DeFeo, Terex Chairman and CEO. "This past year was a tale of two halves, with the second half of the year significantly stronger than the first half. Our performance in the second half was fueled by the continued strength of our Aerial Work Platforms (AWP) segment and a turnaround in our Materials Handling & Port Solutions (MHPS) segment. Our focus throughout the year on strengthening margins and driving financial efficiency helped deliver a strong close to the year. "

"Operationally, our AWP segment is continuing to benefit from strong North American rental channel demand plus a noticeable pickup in Latin America and European performance. Additionally, the Materials Processing (MP) segment performance remains solid, delivering double digit operating margin in 2013 despite a relatively soft demand environment. These business segments performed well in 2013 and we expect even better performance in 2014. The remaining three segments did not meet our expectations in 2013. However, we have made good progress with the integration of our MHPS segment and we expect continued progress in 2014. The pending sale of our off highway truck business results in a smaller and more focused Construction portfolio. We have confidence we can improve the financial profile of this segment going forward. Lastly, our Cranes segment failed to realize the growth that we had anticipated entering 2013. While new product launches did provide some growth, markets such as Australia, Europe and Latin America were more challenging than anticipated."

Updated February 18, 2014