Terex Cranes sales surge in 2018

In the fourth quarter of 2018, the sales revenue of the cranes division increased by 12% year-on-year to $365m.

The manufacturer said that improvements in materials management and operational performance resulted in a return to profitability in Q4.

Steve Filipov, president of Terex Cranes said: “In Q4 the Cranes segment succeeded in overcoming the material supply challenges that impacted our performance earlier in 2018 – I’m proud of the team for meeting our commitments to better fulfill customer demand and return to profitability.

“The sale of the Demag Mobile Cranes business to Tadano Ltd. is based on strong industrial logic. Bringing these two complementary businesses together will combine Tadano’s 100 years of experience with Demag Mobile Cranes’ nearly two centuries to create a lifting company capable of bringing new leadership to the industry and continuing to create innovative lifting solutions. I also want to assure our customers that our parts and services team remains firmly in place and committed to providing them with world class support for all of their Terex cranes, and will support their Demag cranes through the transition to the new owners.”

Terex Corporation reported a sales revenue of $5.1bn in 2018, up 18% compared to the previous year.