First publishedon www.AggBusiness.com
John Garrison (left) and Kieran Hegarty at the Hillhead 2018 exhibition near Buxton, England
The Terex Materials Processing
business segment of Terex Corporation recorded sales of US$295 million in Q3 2018 – up 14% on the same period of last year. The growth was driven by global demand for crushing and screening products, material handlers and Terex Materials Processing’s broad line of environmental equipment. Backlog for the segment at the end of Q3 was US$446 million, up 72% versus last year.
“We continue to see strong global demand for our products. We increased sales, bookings, and backlog in the quarter,” said John L. Garrison, Terex chairman and CEO. “We continue to implement our Execute to Win priorities. We are seeing benefits from our Commercial Excellence initiative positively impact customer experiences and our market performance. At the same time, we are executing plans in Strategic Sourcing and Lifecycle Solutions that are designed to significantly improve future performance.”
Terex Materials Processing’s quarrying equipment brands Powerscreen, Terex Finlay, Terex Minerals Processing Systems, EvoQuip and Terex Washing Systems all performed well within the overall business segment’s third quarter 2018 trading.
Kieran Hegarty, president Terex Materials Processing, said: “Materials Processing is a high- performing segment that consistently meets the needs of its global customers. Our businesses continue to focus on introducing new products and enhancements designed to address specific customer needs. We see the benefits in our increased sales, bookings and backlog. With 72% higher backlog, we look forward to a strong fourth quarter and expect to hit the ground running in 2019.”
Terex Corporation as a whole reported Q3 2018 sales of $1.2 billion, up 11% versus Q3 of 2017.