Terex Lifting will sell a billion dollars worth of lifting equipment this year. That is the outlook, at least, after sales of $504.4m during the first six months of the year, driven by strong demand for its cranes and utility aerial devices.
Second quarter results posted on 27 July show that hydraulic mobile crane sales rose 11% in the quarter, while utility aerial devices drew revenues up 52% on the second quarter of 1998. Strong sales in Europe led to a 30% increase in sales of aerial work platforms.
Operating profit for the quarter was up 31% to $28.2m. For the half year it was $52.7m, up from $39.9m in the first half of 1997.
Parent company Terex Corporation had total sales of $871.4m for the first six months of 1999, a 47% increase over the $594.1m in the same period last year. The company attributed about $134m of this increase to acquired companies and $143m to internal growth.
Diversification continues with the acquisition of Powerscreen International and an agreement to acquire Cedarapids, Inc, Both are primarily screening and crushing equipment manufacturers.
