Terex Corporation

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Terex Corporation () is a diversified global manufacturer of a broad range of heavy equipment for a variety of industries, including construction, infrastructure, quarrying, recycling, surface mining, shipping, transportation, refining, utility and maintenance. The company's major business segments include aerial work platforms, construction, cranes, materials processing & mining, and roadbuilding and utility products. Terex has more than 18,000 employees known as team members and operates 50 manufacturing facilities in North America, South America, Europe, Asia and Australia. Terex sells its products in more than 170 countries.

History: Growth Through Acquisition Terex has grown considerably over the past several years, mainly through a combination of acquisitions designed to expand the company’s product offering, improve geographic coverage and deliver value for its customers. More than half its total annual sales now come from outside the United States. Terex had net sales of approximately $7.6 billion in 2006, making it the world’s third largest construction equipment manufacturer, behind only Caterpillar and Komatsu. The company’s 11-year compounded annual sales growth rate is 28 percent.

After the close of trading on December 19, 2006, Terex replaced Navistar in the S&P 500 Index. Reuters article about S&P 500 listing. Retrieved on 2006-12-19. The Company is currently listed at 314 on the Fortune 500 annual listing of companies, a 41-place advance in one year.

As part of its growth plan, Terex is focusing on building a franchise under the Terex brand name, which means that the company is migrating the historic brand names for many of its products to the Terex brand. In some cases, The Terex name will be used in conjunction with the historic brand name. Recent acquisitions have made Terex companies leaders in a variety of industries. Some notable examples include: the German crane company Demag in Zweibrücken, now known as Terex-Demag; Genie Industries (aerial work platforms); Schaeff and Fuchs (compact equipment); Advance Mixer (concrete mixing); Noble CE (Terex Mexico, high capacity surface mining trucks and components). In late 2003, Terex purchased a controlling interest in Tatra, TEREX Corporation - About TEREX - Contact Us. Retrieved on 2006-11-24. which it subsequently sold in 2006.

Worldwide brands Through the integration of some of the most respected companies in the industry, the Terex family of brands provides a diverse and comprehensive product line backed by years of innovation, technical expertise, and sound quality. Terex Brands. Retrieved on 2007-06-25

Ohio connection Terex was formerly a division of General Motors, initially named General Motors Euclid Division. The plant was established in Hudson, Ohio (on land then part of Hudson Township, Summit County, Ohio) in 1957. A bypass connecting Ohio State Route 303 to Ohio State Route 91 was built and named Terex Road.The plant closed in the late 1980s. Today, the building is used for office and warehouse space. Jo-Ann Stores is headquartered there. It owns most of the building and is its largest tenant. Summit County Fiscal Office Property Card. Retrieved on 2006-11-24. A Regal Cinemas, built in 1994, is located on the southwest corner of the property.

In the 1970s, Terex produced the world's largest truck, the Terex Titan. The single prototype produced served until 1990.

Post-GM, much of Terex' "street legal" product use various configurations of Ford truck chassis.

Culture of continuous improvement As a company whose brand is evolving with the organization, Terex is committed to growth through continuous improvement in all aspects of its business. In 2005, the company introduced its blueprint for growth called the Terex Business System (TBS). Terex Business System. Retrieved on 2006-06-25 TBS is built on four pillars that are key elements of its operating culture: customer focus, planning and deployment, operational excellence across the value chain, and new product and service development. In turn, excellence in these areas is built on a foundation of commitment to leadership, superb human resource practices, and customer-driven business processes whose centerpiece is continuous improvement.

In his chairman’s message opening the company’s 2006 annual report, Ronald DeFeo wrote: “We continue to view Terex as a young company, with significantly more potential in front of us than past success behind us. There is no doubt that Terex is maturing. We are building the operating capability and strength of our franchise, We are doing this with great leadership and a global footprint. And we are still in the early days of this evolution.” Ronald DeFeo. Retrieved on 2007-06-25.

References External links

Terex Official website
Terex Memorabilia, at the Hudson Library & Historical Society

Aerial photos of former plant:

Terex Corporation () is a diversified global manufacturer of a broad range of heavy equipment for a variety of industries, including construction, infrastructure, quarrying, recycling, surface mining, shipping, transportation, refining, utility and maintenance. The company's major business segments include aerial work platforms, construction, cranes, materials processing & mining, and roadbuilding and utility products. Terex has more than 18,000 employees known as team members and operates 50 manufacturing facilities in North America, South America, Europe, Asia and Australia. Terex sells its products in more than 170 countries.

History: Growth Through Acquisition Terex has grown considerably over the past several years, mainly through a combination of acquisitions designed to expand the company’s product offering, improve geographic coverage and deliver value for its customers. More than half its total annual sales now come from outside the United States. Terex had net sales of approximately $7.6 billion in 2006, making it the world’s third largest construction equipment manufacturer, behind only Caterpillar and Komatsu. The company’s 11-year compounded annual sales growth rate is 28 percent.

After the close of trading on December 19, 2006, Terex replaced Navistar in the S&P 500 Index. Reuters article about S&P 500 listing. Retrieved on 2006-12-19. The Company is currently listed at 314 on the Fortune 500 annual listing of companies, a 41-place advance in one year.

As part of its growth plan, Terex is focusing on building a franchise under the Terex brand name, which means that the company is migrating the historic brand names for many of its products to the Terex brand. In some cases, The Terex name will be used in conjunction with the historic brand name. Recent acquisitions have made Terex companies leaders in a variety of industries. Some notable examples include: the German crane company Demag in Zweibrücken, now known as Terex-Demag; Genie Industries (aerial work platforms); Schaeff and Fuchs (compact equipment); Advance Mixer (concrete mixing); Noble CE (Terex Mexico, high capacity surface mining trucks and components). In late 2003, Terex purchased a controlling interest in Tatra, TEREX Corporation - About TEREX - Contact Us. Retrieved on 2006-11-24. which it subsequently sold in 2006.

Worldwide brands Through the integration of some of the most respected companies in the industry, the Terex family of brands provides a diverse and comprehensive product line backed by years of innovation, technical expertise, and sound quality. Terex Brands. Retrieved on 2007-06-25

Ohio connection Terex was formerly a division of General Motors, initially named General Motors Euclid Division. The plant was established in Hudson, Ohio (on land then part of Hudson Township, Summit County, Ohio) in 1957. A bypass connecting Ohio State Route 303 to Ohio State Route 91 was built and named Terex Road.The plant closed in the late 1980s. Today, the building is used for office and warehouse space. Jo-Ann Stores is headquartered there. It owns most of the building and is its largest tenant. Summit County Fiscal Office Property Card. Retrieved on 2006-11-24. A Regal Cinemas, built in 1994, is located on the southwest corner of the property.

In the 1970s, Terex produced the world's largest truck, the Terex Titan. The single prototype produced served until 1990.

Post-GM, much of Terex' "street legal" product use various configurations of Ford truck chassis.

Culture of continuous improvement As a company whose brand is evolving with the organization, Terex is committed to growth through continuous improvement in all aspects of its business. In 2005, the company introduced its blueprint for growth called the Terex Business System (TBS). Terex Business System. Retrieved on 2006-06-25 TBS is built on four pillars that are key elements of its operating culture: customer focus, planning and deployment, operational excellence across the value chain, and new product and service development. In turn, excellence in these areas is built on a foundation of commitment to leadership, superb human resource practices, and customer-driven business processes whose centerpiece is continuous improvement.

In his chairman’s message opening the company’s 2006 annual report, Ronald DeFeo wrote: “We continue to view Terex as a young company, with significantly more potential in front of us than past success behind us. There is no doubt that Terex is maturing. We are building the operating capability and strength of our franchise, We are doing this with great leadership and a global footprint. And we are still in the early days of this evolution.” Ronald DeFeo. Retrieved on 2007-06-25.

References External links

Terex Official website
Terex Memorabilia, at the Hudson Library & Historical Society

Aerial photos of former plant:

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