November 30, 2004
WESTPORT, Conn., Nov 30, 2004 (BUSINESS WIRE) - Terex Corporation today announced that it has signed an agreement to purchase the Reedrill division of Metso Corporation. Reedrill, headquartered in Sherman, Texas is a leading manufacturer of surface drilling equipment for use in the mining, construction and utility industries, with estimated 2004 revenues of approximately $80 million. This transaction is anticipated to close at the end of the fourth quarter of 2004. "The acquisition of Reedrill provides a terrific opportunity for us," commented Ronald M. DeFeo, Terex Chairman and Chief Executive Officer. "The acquisition is an excellent fit with Terex's strategy of product diversity and is a natural extension of our mining and utility customer offerings. In fact, synergies between Terex and Reedrill were already materializing, as many of our Terex Utilities dealers have distribution agreements for the Reedrill products and services." Mr. DeFeo continued, "The combination of Reedrill
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November 05, 2004
WESTPORT, Conn., Nov 5, 2004 (BUSINESS WIRE) - TEREX Corporation (NYSE:TEX) today announced that it will participate in the Robert W. Baird Annual Industrial Conference at the Four Seasons Hotel in Chicago, Illinois on Tuesday, November 9, 2004. The meeting will include a presentation by Brian Henry, Senior Vice President Finance, Business Development and Tom Gelston, Director Investor Relations. A live webcast of this presentation can be accessed on Tuesday, November 9, 2004 at 7:45 a.m. (CDT) on the TEREX Corporation website, www.terex.com, under the Investors section. Listeners should go to this site at least 15 minutes before this event to download and install any necessary audio software. For those unable to listen to the live broadcast, a replay will be available for 90 days by accessing the above address. There is no charge to access the event. The webcast may contain forward-looking information based on TEREX's current expectations. Because forward-looking statements involve
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November 04, 2004
Nov. 4, 2004-Terex Corporation (NYSE:TEX) previously announced that effective for the third quarter of 2004, it has realigned certain operations in an effort to strengthen its ability to service customers and to recognize certain organizational efficiencies. The Materials Processing Group, formerly part of the Roadbuilding, Utility Products and Other Segment, is now consolidated with the Terex Mining Group under the Terex Materials Processing & Mining Segment. The Terex Light Construction and Load King businesses, formerly part of the Roadbuilding, Utility Products and Other Segment, are now part of the Aerial Work Platforms Segment. Terex today announced that it has revised certain historical segment results for the three month and nine month periods ended September 30, 2003 as previously presented in its press release dated October 27, 2004 reporting its results of the third quarter of 2004. These revisions correct the allocation of certain items among the segments, namely the
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October 27, 2004
Click here to view our revised third quarter earnings results. Sales increased to $1,252 million, up 38% over the prior year Net income of $0.62 per share Backlog is $824.6 million, up 100% as compared with third quarter 2003 Commences review to resolve imbalance in intercompany transactions Oct. 27, 2004-Terex Corporation (NYSE: TEX) today announced net income for the third quarter of 2004 of $31.4 million, or $0.62 per share, compared to net income of $14.9 million, or $0.30 per share, for the third quarter of 2003. Excluding the impact of special items in both periods, net income for the quarter was $33.0 million, or $0.65 per share, compared to $16.5 million, or $0.33 per share, for the third quarter of 2003. Special items will be explained in more detail later in this release and a reconciliation to generally accepted accounting principles (GAAP) by business segment is also attached. The effective tax rate for the third quarter of 2004 was 16.0%. Net sales increased to $1,251.8
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October 15, 2004
WESTPORT, Conn., Oct 15, 2004 (BUSINESS WIRE) - You are invited by TEREX Corporation (NYSE:TEX) to participate in a conference call to review its third quarter 2004 financial results. The live call will begin on Thursday, October 28, 2004 at 8:30 a.m., Eastern Time. Ronald M. DeFeo, Chairman and CEO, will host the call. To access the conference call, please call (877) 726-6603 on Thursday, October 28, 2004 at least 10 minutes before the call is scheduled to begin. To accommodate our audiences in earlier time zones or anyone unable to listen, there will be a replay of the teleconference. The replay will be available shortly after the conclusion of the call and can be accessed until Thursday, November 4, 2004 at 6:00 p.m., Eastern Time. To access the replay, please call (800) 642-1687 and enter conference id #1494759. International participants should call (706) 634-5517 at least 15 minutes before the start of the conference call. To access the replay, please call (706) 645-9291 and
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October 04, 2004
Oct. 4, 2004-TEREX Corporation (NYSE: TEX) today announced that it will participate in the Deutsche Bank Global High Yield Conference at The Phoenician in Scottsdale, Arizona on Wednesday, October 6, 2004. The meeting will include a presentation at 7:55 AM by Tom Gelston, Director Investor Relations. The slide presentation from the conference can be accessed beginning Wednesday, October 6, 2004 on the TEREX Corporation website, www.terex.com under the Investors section. The presentation may contain forward-looking information based on TEREX's current expectations. Because forward-looking statements involve risks and uncertainties, actual results could differ materially. Such risks and uncertainties, many of which are beyond TEREX's control, include among others: TEREX's business is highly cyclical and weak general economic conditions may affect the sales of its products and its financial results; the sensitivity of construction, infrastructure and mining activity and products produced
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September 28, 2004
Sept. 28, 2004-TEREX Corporation (NYSE: TEX) today announced that it will be hosting a conference at MINExpo International 2004 on Tuesday, September 28, 2004 for analysts and investors to review mining industry trends and recent developments. A presentation will be given at the Las Vegas Hilton located at 3000 Paradise Road at 9:00 AM PDT in Ballroom "D." Speakers will include Ron DeFeo, Chairman, President and CEO, Rick Nichols, President, TEREX Materials Processing and Mining, Peter Rall, Vice President, Business Development TEREX Mining Americas, and Tom Gelston, Director Investor Relations. A question and answer session will follow the presentation. The slide presentation from the conference can be accessed beginning Tuesday, September 28, 2004 on the TEREX Corporation website, www.terex.com under the Investors section. The presentation may contain forward-looking information based on TEREX's current expectations. Because forward-looking statements involve risks and
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August 16, 2004
WESTPORT, Conn., Aug 16, 2004 (BUSINESS WIRE) - Terex Corporation (NYSE: TEX) is pleased to announce that it has reached an understanding with Caterpillar Inc. that will allow Terex the opportunity to distribute and support the Terex O&K line of hydraulic excavators through Caterpillar's independent dealer network. Terex will continue to operate its branch locations and support its existing dealer agreements while focusing on utilizing the strength of the Caterpillar dealer network. In those areas where Terex has existing distribution, various forms of local collaboration will be explored with the Caterpillar dealers. "We believe that this arrangement will allow Terex the opportunity to reach new customers in areas where we have historically not participated in a meaningful way due to limited capacity to service and support our machines," commented Rick Nichols, President-Terex Mining. "By seeking to distribute our mining shovel through Caterpillar dealers in geographies where we
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July 21, 2004
- Sales increased to $1,336 million, up 27% over the prior year - Net income of $1.17 per share - Cash flow from operations of $134 million - Net debt decreased $160 million - Gross debt decreased $113 million - Backlog increased to $916 million, up 125% as compared with second quarter 2003 July 21, 2004-Terex Corporation (NYSE: TEX) today announced net income for the second quarter of 2004 of $59.1 million, or $1.17 per share, compared to a net loss of $51.8 million, or $1.09 per share, for the second quarter of 2003. Excluding the impact of special items, net income for the quarter was $52.3 million, or $1.03 per share, compared to $24.7 million, or $0.50 per share, for the second quarter of 2003. The effective tax rate for the second quarter of 2004 was 19.7%. Using the 2003 and anticipated full year 2004 tax rate of 28%, net income excluding special items for the second quarter of 2004 would have been $46.9 million, or $0.93 per share. Special items for the second quarter of 2004,
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July 13, 2004
July 13, 2004-You are invited by Terex Corporation (NYSE: TEX) to participate in a conference call to review its second quarter 2004 financial results. The live call will begin on Thursday, July 22, 2004 at 8:30 a.m., Eastern Time. Ronald M. DeFeo, Chairman and CEO, will host the call. To access the conference call, please call (877) 726-6603 on Thursday, July 22, 2004 at least 10 minutes before the call is scheduled to begin. To accommodate our audiences in earlier time zones or anyone unable to listen, there will be a replay of the teleconference. The replay will be available shortly after the conclusion of the call and can be accessed until Thursday, July 29, 2004 at 6:00 p.m., Eastern Time. To access the replay, please call (800) 642-1687 and enter conference id #8764961. International participants should call (706) 634-5517 at least 15 minutes before the start of the conference call. To access the replay, please call (706) 645-9291 and enter conference id #8764961. Terex
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June 15, 2004
June 15, 2004-Terex Corporation (NYSE:TEX) announced today that its Board of Directors has added Paula H. J. Cholmondeley as a member of the Terex Board. Ms. Cholmondeley, currently a private consultant on Strategic Planning, most recently served as Vice President and General Manager of Sappi Fine Paper, North America, responsible for their Specialty Products division. Ms. Cholmondeley has held senior positions with various other companies, including Owens Corning, The Faxon Company, Blue Cross of Greater Philadelphia, and Westinghouse Elevator Company, and also served as a White House Fellow assisting the U.S. Trade Representative during the Reagan administration. Ms. Cholmondeley, a certified public accountant, is an alumnus of Howard University and received a Masters degree in accounting from The University of Pennsylvania, Wharton School of Finance. Ms. Cholmondeley is also a director of Dentsply International Inc., a manufacturer of products for the dental industry, as well as
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May 27, 2004
May 27, 2004-Terex Corporation (NYSE: TEX) is pleased to announce that it has been awarded orders by Henry Walker Eltin to supply fleets of both trucks and excavators to be used in a major contract mining operation in Indonesia. The total value of the order is in excess of $55 million. The equipment to be supplied includes some of the most up-to-date mining equipment available in the marketplace today, including the following: - Five MT3300AC 150-ton capacity haul trucks - Ten MT4400AC 240-ton capacity haul trucks - One RH120E backhoe excavator - Two RH200 backhoe excavators - Three RH340 backhoe excavators "We are very pleased that Terex Mining was awarded this very important contract with Henry Walker Eltin," commented Ronald M. DeFeo, Terex's Chairman and Chief Executive Officer. "This award demonstrates Terex Mining's renewed ability to successfully compete on a global scale, reinforces the technical and cost benefits of our mining products, and verifies our organization's service
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May 24, 2004
May 24, 2004-Terex Corporation (NYSE: TEX) today announced that it will participate in the Credit Suisse First Boston Small Cap Conference at the CSFB conference facilities at 11 Madison Avenue in New York, New York on Wednesday, May 26, 2004. The meeting will include a presentation at 3:15 PM EDT by Ronald DeFeo, Chairman and Chief Executive Officer, Phil Widman, Senior Vice President and Chief Financial Officer, and Tom Gelston, Director Investor Relations. The slide presentation from the conference can be accessed beginning Wednesday, May 26, 2004 on the Terex Corporation website, www.terex.com under the Investor Relations section. The presentation may contain forward-looking information based on Terex's current expectations. Because forward-looking statements involve risks and uncertainties, actual results could differ materially. Such risks and uncertainties, many of which are beyond Terex's control, include among others: Terex's business is highly cyclical and weak general
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May 17, 2004
WESTPORT, Conn., May 17, 2004 (BUSINESS WIRE) - Terex Corporation (NYSE: TEX) today announced that it has extended the expiration date of the exchange offer relating to its $300 million aggregate principal amount of 7 3/8% Senior Subordinated Notes due 2014 which were originally issued on November 25, 2003 in a private offering. In the exchange offer, Terex Corporation is offering to exchange up to $300 million of new notes which will be substantially identical to the outstanding notes except that the new notes will be registered under the Securities Act of 1933. As a result of the extension, the exchange offer will expire at 5:00 p.m., EDT, on May 18, 2004, one day later than the originally-scheduled expiration date. As of 5:00 p.m., EDT, Monday, May 17, 2004, holders of approximately $299 million in aggregate principal amount of the unregistered 7 3/8% Senior Subordinated Notes due 2014 had tendered for exchange. Terex Corporation is a diversified global manufacturer with 2003
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May 13, 2004
May 13, 2004-Terex Corporation (NYSE: TEX) today announced that Bob Wilkerson, currently President of Terex Aerial Work Platforms, has been given additional responsibility for overseeing and accelerating the changes underway as part of the Terex Improvement Process ("TIP"). Mr. Wilkerson will continue as President of Terex Aerial Work Platforms, although some of his day-to-day responsibilities will be reassigned to the existing Terex Aerial Work Platforms management team. "I am excited about this opportunity," commented Bob Wilkerson. "The TIP teams have already made breakthrough progress in certain areas. This new position will allow Terex to greatly accelerate the rate of change, by allowing me to work with the senior staff directly and focus our efforts on the most important areas of required change." "I am delighted that Bob has accepted this newly created responsibility," commented Ronald M. DeFeo, Chairman and Chief Executive Officer of Terex Corporation. "I firmly believe that
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April 29, 2004
April 29, 2004-Terex Corporation (NYSE: TEX) today announced that it will participate in the Smith Barney Citigroup Small and Mid-Cap Conference at the Four Seasons Hotel in Las Vegas, Nevada on Wednesday, May 5, 2004. The meeting will include a presentation by Phil Widman, Senior Vice President and Chief Financial Officer and Tom Gelston, Director Investor Relations. A live webcast of this presentation can be accessed on Wednesday, May 5, 2004 at 4:45 p.m. (PDT) on the Terex Corporation website, www.terex.com under the Investor Relations section. Listeners should go to this site at least 15 minutes before this event to download and install any necessary audio software. For those unable to listen to the live broadcast, a replay will be available for 90 days by accessing the above address. There is no charge to access the event. The webcast may contain forward-looking information based on Terex's current expectations. Because forward-looking statements involve risks and uncertainties,
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April 21, 2004
- Sales increased 13% to $1,044 million - Net income was $17 million, an increase of 42% - Backlog up $335 million, or 73%, compared with first quarter 2003 April 21, 2004-Terex Corporation (NYSE: TEX) today announced net income for the first quarter of 2004 of $17.0 million, or $0.34 per share, compared to net income of $12.0 million, or $0.24 per share, for the first quarter of 2003. Using the 2003 tax rate of 28%, net income for the first quarter of 2004 would have been $17.6 million, or $0.35 per share. While there were no special items during the first quarter of 2004, excluding the impact of special items for the first quarter of 2003, net income was $15.6 million, or $0.32 per share for the first quarter of 2003. Special items for the first quarter of 2003 included charges for previously announced restructuring actions, inventory valuation adjustments related to the Demag and Genie acquisitions, charges related to the Company's deferred compensation plan and the write down of
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April 07, 2004
April 7, 2004-You are invited by Terex Corporation to participate in a conference call to review its first quarter 2004 financial results. The live call will begin on Thursday, April 22, 2004 at 8:30 a.m., Eastern Time. Ronald M. DeFeo, Chairman and CEO will host the call. To access it, call (877) 726-6603 on Thursday, April 22, 2004 at least 10 minutes before the call is scheduled to begin. To accommodate our audiences in earlier time zones or anyone unable to listen, there will be a replay of the teleconference. The replay will be available shortly after the conclusion of the call and can be accessed until Thursday, April 29, 2004 at 6:00 p.m., Eastern Time. To access the replay, please call (800) 642-1687 and enter conference id #6683636. International participants should call (706) 634-5517 at least 15 minutes before the start of the conference call. To access the replay, please call (706) 645-9291 and enter conference id #6683636. Terex Corporation will be releasing its first
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March 25, 2004
March 25, 2004-Terex Corporation (NYSE: TEX) today announced that its joint venture, American Truck Company, LLC ("ATC"), in which Terex has a two-thirds interest, has been awarded and entered into a contract with the U.S. Marine Corps to supply three prototype Logistic Vehicle System Replacement ("LVSR") trucks. This contract, valued at $5.6 million, represents the first phase in a two-part process to determine the vehicle that ultimately will be selected by the U.S. Marine Corps for a total of up to 1,022 truck order. ATC is one of only two suppliers chosen to advance to the next phase of the proposal and evaluation process. The announcement by the U.S. Marine Corps follows the conclusion of a competition between ATC and other U.S. military truck manufacturers. The U.S. Marine Corps will put the three ATC prototype vehicles through a 12,000-mile accelerated endurance test, performance testing, and an operational assessment conducted by Marine operators and maintainers. The LVSR
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March 19, 2004
March 19, 2004-Terex Corporation (NYSE:TEX) today announced that it will participate in the Lehman Brothers High Yield Bond and Syndicated Loan Conference at Disney's Yacht & Beach Club Resort in Orlando, Florida on Monday, March 22, 2004. The meeting will include a presentation by Phil Widman, Senior Vice President and Chief Financial Officer and Tom Gelston, Director Investor Relations. A live webcast of this presentation can be accessed on Monday, March 22, 2004 at 1:45 p.m. (EST) on the Terex Corporation website, www.terex.com under the Investor Relations section. Listeners should go to this site at least 15 minutes before this event to download and install any necessary audio software. For those unable to listen to the live broadcast, a replay will be available for 90 days by accessing the above address. There is no charge to access the event. The webcast may contain forward-looking information based on Terex's current expectations. Because forward-looking statements involve
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March 08, 2004
WESTPORT, CT, March 8, 2004 – Terex Corporation (NYSE: TEX) today announced that it will participate in the Smith Barney Citigroup Industrial Manufacturing Conference at the Grand Hyatt Hotel in New York, New York on Tuesday, March 9, 2004. The meeting will include a presentation by Phil Widman, Senior Vice President and Chief Financial Officer and Tom Gelston, Director Investor Relations. A live webcast of this presentation can be accessed on Tuesday, March 9, 2004 at 2:15 p.m. (EST) on the Terex Corporation website, www.terex.com under the Investor Relations section. Listeners should go to this site at least 15 minutes before this event to download and install any necessary audio software. For those unable to listen to the live broadcast, a replay will be available for 90 days by accessing the above address. There is no charge to access the event. The webcast may contain forward-looking information based on Terex's current expectations. Because forward-looking statements involve
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March 01, 2004
March 1, 2004-Terex Corporation (NYSE: TEX) today announced that it will participate in the Credit Suisse First Boston Leveraged Finance Industrials Conference at the CSFB Conference Center, Eleven Madison Avenue in New York, New York on Tuesday, March 2, 2004. The meeting will include a presentation at 9:15 AM Eastern Time by Ronald DeFeo, Chairman and Chief Executive Officer, Phil Widman, Senior Vice President and Chief Financial Officer, and Tom Gelston, Director Investor Relations. The slide presentation from the conference can be accessed beginning Tuesday, March 2, 2004 on the Terex Corporation website, www.terex.com under the Investor Relations section. The presentation may contain forward-looking information based on Terex's current expectations. Because forward-looking statements involve risks and uncertainties, actual results could differ materially. Such risks and uncertainties, many of which are beyond Terex's control, include among others: Terex's business is highly
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February 18, 2004
- Cash generated from operations was $169 million for the fourth quarter and $384 million for the full year - Net debt decreased in the fourth quarter by $159 million and $315 million for the full year - Net debt to book capitalization improved to 50.5% Feb. 18, 2004-Terex Corporation (NYSE: TEX) today announced a net loss for the full year 2003 of $25.5 million, or $0.53 per share, compared to a net loss of $132.5 million, or $3.07 per share, for the full year 2002. Excluding the impact of special items, net income for the full year 2003 was $71.3 million, or $1.44 per share, compared to $46.8 million, or $1.06 per share, for the full year 2002. Net sales for 2003 were $3,897.1 million, an increase of 39.3% from net sales of $2,797.4 million for 2002. Special items for the full year 2003 include net charges of $96.8 million (approximately $24 million of which are cash) and primarily includes goodwill impairment and restructuring activities in the Roadbuilding businesses, product line
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February 09, 2004
WESTPORT, Conn., Feb 9, 2004 (BUSINESS WIRE) - Terex Corporation (NYSE: TEX) today announced that it will participate in the Deutsche Bank Global Transportation Conference at The Ritz-Carlton in Naples, Florida on Wednesday, February 11, 2004. The meeting will include a presentation by Ronald DeFeo, Chairman and Chief Executive Officer and Tom Gelston, Director Investor Relations. A live webcast of this presentation can be accessed on Wednesday, February 11, 2004 at 1:45 p.m. (EST) on the Terex Corporation website, www.terex.com under the Investor Relations section. Listeners should go to this site at least 15 minutes before this event to download and install any necessary audio software. For those unable to listen to the live broadcast, a replay will be available for 90 days by accessing the above address. There is no charge to access the event. The webcast may contain forward-looking information based on Terex's current expectations. Because forward-looking statements involve risks
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February 09, 2004
Feb. 9, 2004-You are invited by Terex Corporation to participate in a conference call to review its year-end 2003 financial results and 2004 outlook. The live call will begin on Thursday, February 19, 2004 at 8:30 a.m., Eastern Time. Ronald M. DeFeo, Chairman and CEO will host the call. To access it, call (877) 726-6603 on Thursday, February 19, 2004 at least 10 minutes before the call is scheduled to begin. To accommodate our audiences in earlier time zones or anyone unable to listen, there will be a replay of the teleconference. The replay will be available shortly after the conclusion of the call and can be accessed until Thursday, February 26, 2004 at 6:00 p.m., Eastern Time. To access the replay, please call (800) 642-1687 and enter conference id #5388125. International participants should call (706) 634-5517 at least 15 minutes before the start of the conference call. To access the replay, please call (706) 645-9291 and enter conference id #5388125. Terex Corporation will be
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February 05, 2004
Feb. 5, 2004-Terex Corporation (NYSE: TEX) today announced that it will participate in the Citigroup High Yield/Leveraged Finance Conference at The St. Regis in Aspen, Colorado on Monday, February 9, 2004. The meeting will include a presentation at 10:50 a.m. (EST) by Phil Widman, Senior Vice President and Chief Financial Officer and Tom Gelston, Director Investor Relations. The slide presentation from the conference can be accessed beginning Monday, February 9, 2004 on the Terex Corporation website, www.terex.com under the Investor Relations section. The presentation may contain forward-looking information based on Terex's current expectations. Because forward-looking statements involve risks and uncertainties, actual results could differ materially. Such risks and uncertainties, many of which are beyond Terex's control, include among others: Terex's business is highly cyclical and weak general economic conditions may affect the sales of its products and its financial results; the
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February 03, 2004
WESTPORT, Conn., Feb 3, 2004 (BUSINESS WIRE) - Terex Corporation (NYSE: TEX) today announced that it will participate in the Lehman Brothers Industrial Select Conference at the Loews Miami Beach Hotel in South Beach, Florida on Thursday, February 5, 2004. The meeting will include a presentation by Ronald DeFeo, Chairman and Chief Executive Officer, and Phil Widman, Senior Vice President and Chief Financial Officer. A live webcast of this presentation can be accessed on Thursday, February 5, 2004 at 10:05 a.m. (EST) on the Terex Corporation website, www.terex.com under the Investor Relations section. Listeners should go to this site at least 15 minutes before this event to download and install any necessary audio software. For those unable to listen to the live broadcast, a replay will be available for 90 days by accessing the above address. There is no charge to access the event. The webcast may contain forward-looking information based on Terex's current expectations. Because
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January 30, 2004
Jan. 30, 2004-Terex Corporation (NYSE: TEX) today announced that it will participate in the JP Morgan High Yield Conference at the New Orleans Marriott in New Orleans, Louisiana on Tuesday, February 3, 2004. The meeting will include a presentation at 9:40 AM Eastern Time by Tom Gelston, Director Investor Relations and Brian Henry, Senior Vice President, Finance and Business Development. The slide presentation from the conference can be accessed beginning Tuesday, February 3, 2004 on the Terex Corporation website, www.terex.com, under the Investor Relations section. The presentation may contain forward-looking information based on Terex's current expectations. Because forward-looking statements involve risks and uncertainties, actual results could differ materially. Such risks and uncertainties, many of which are beyond Terex's control, include among others: Terex's business is highly cyclical and weak general economic conditions may affect the sales of its products and its financial
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January 23, 2004
WESTPORT, CT, January 23, 2004 – Terex Corporation (NYSE: TEX) today announced that Rick Nichols has been named to the position of President of Terex Material Processing and Mining. The Unit Rig truck and O&K Mining shovel businesses along with the Material Processing businesses of Cedarapids, Simplicity, Jacques and Canica will now be under Mr. Nichols' leadership, broadening his Terex responsibilities. This change will take effect immediately. Thys de Beer, currently President of Terex Mining, will continue with the Company, working on various corporate initiatives and special assignments. Both Rick Nichols and Thys de Beer will continue to report to Ronald DeFeo, Terex's Chairman and CEO. “This realignment allows Terex to offer a range of products to mining customers that is compelling and unmatched by our competition. Our mining shovels dig and load, our trucks transport, and our large crushing and screening products process the materials. Putting these together can offer a
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January 07, 2004
Jan. 7, 2004-Terex Corporation (NYSE: TEX) today announced that its joint venture, American Truck Company (ATC), of which Terex is a two-thirds owner, has been awarded and entered into a contract with the U.S. Army Tank-armaments and Automotive Command (TACOM) to supply the Ministry of Defense of Israel (IMOD) with 302 medium tactical trucks and associated logistics support. The trucks are being supplied to Israel by the United States under the U.S. Foreign Military Sales program. The initial value of this order is approximately $54 million before options. IMOD also has options to purchase an additional 243 trucks for value in excess of $40 million. The announcement follows the conclusion of a lengthy competition between ATC and other U.S. military truck manufacturers that included extended testing of vehicles and an evaluation of after-market support capabilities, as well as lengthy formal discussions with TACOM and IMOD to finalize the contract details. The procurement includes a
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