“At Terex, we are very excited about the 10 years in front of us,” DeFeo said. “We expect that infrastructure investments of all forms will be accelerated in the next 10 years and we expect Terex products to be a strong part of this future.”
Terex recently announced it has agreed to sell its mining division to Bucyrus International. As a result, Terex will refocus on becoming a machinery and industrial products manufacturer, as opposed to a construction and mining equipment company, and will build on its existing speciality machinery lines, such as cranes, and become a company of niche products.
“We believe we must first focus on always trying to serve our customers better,” said DeFeo. “Such is the case in our recently announced decision to sell our mining business to Bucyrus International. Even though Terex will no longer be in the mining equipment business we feel we have helped launch a superior product range upon which Bucyrus can build.”
DeFeo said Bauma 2010, to be held in Munich, Germany over 19-25 April, is the first major show for the construction industry of the new decade, and, as such, provides Terex with the opportunity to present its products and services to new and established customers as it looks to move forward.
Bauma 2010 will see Terex exhibit 50 machines, including the new AC 100/4 L and AC 1000 all terrain cranes, the RT 100 rough terrain crane and a new tower crane model with luffing jib.
“At Bauma 2010, the Terex team looks forward to demonstrating to both established and new customers how our equipment can help them become more productive and profitable as world markets improve,” said DeFeo.
“We have come a long way at Terex in a few short years. Our product offerings have never been better. We have a strong balance sheet and cash to find new product additions to grow.
“We also believe that the best is still to come, especially for our customers.”
