December 17, 2007
Dec. 17, 2007-Terex Corporation (NYSE: TEX) today announced that its Board of Directors has increased and extended its share repurchase program, under which the Company now may purchase an additional $500 million of the Company's outstanding common shares. This brings the total that may be repurchased under the share repurchase program to $700 million, and extends the program period from its original expiration date of June 30, 2008 through June 30, 2009. Purchases may be made at the Company's discretion from time to time in open market transactions at prevailing prices or through privately negotiated transactions as conditions permit. As of today, the Company has purchased approximately $166 million of shares under the repurchase program, as compared to approximately $74 million of shares repurchased as of September 30, 2007. Ronald M. DeFeo, Chairman and CEO of Terex, stated, "Terex Corporation's strong financial position and continued favorable business outlook enables us to expand
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December 12, 2007
Dec. 12, 2007-Terex Corporation (NYSE: TEX) today announced that it has acquired a controlling share of its ongoing joint venture, Terex Vectra Equipment, which builds loader-backhoes, skid steer loaders and compaction rollers at a facility occupying 36 acres in Greater Noida, Utter Pradesh, India. Terex now owns 70 percent of the venture, which began operations in 2003. "As India's impressive and steady infrastructure development has progressed, Terex Vectra has seen a significant increase in sales, particularly in loader-backhoes, a large and rapidly growing market in that country," said Robert Isaman, president, Terex Construction. "The acquisition of majority ownership of Terex Vectra is a logical step in our strategy of expanding the Terex market presence in India and we are encouraged by our early successes. The increased ownership also provides Terex with control over operations and manufacturing, which will allow us to accelerate our integration strategy and business systems
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November 30, 2007
Nov. 30, 2007-Terex Corporation (NYSE: TEX) today announced that it will participate in the Bank of America 2007 Credit Conference at the Royal Pacific Resort in Orlando, FL on Tuesday, December 4, 2007. The meeting will include a presentation by Charles Snavely, Vice President Finance, Treasury and Risk Management and Kurt Goddard, Manager Financial Planning & Analysis. A live webcast of this presentation can be accessed on Tuesday, December 4, 2007 at 2:20 p.m. EDT on the Terex Corporation website, www.terex.com, under the Investor Relations section. Additionally, a slide presentation from the conference will be available beginning on Tuesday, December 4, 2007, on the Terex website 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 broadcasts, a replay will be available by accessing the above address. Terex Corporation is a
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November 28, 2007
Nov. 28, 2007-Terex Corporation (NYSE: TEX) today announced that it will host an Investment Analyst Meeting on February 1, 2008, at Le Meridien Etoile Hotel in Paris, France. The event is scheduled to start at 9:00 AM Central European Time (CET), and conclude at approximately 2:00 PM CET. Ronald M. DeFeo, Terex Chairman and Chief Executive Officer, along with the Company's President and Chief Operating Officer, Chief Financial Officer, and segment presidents, will provide insight into the Company's strategic initiatives along with discussion on pertinent operational and financial topics. As space is limited, we would ask that investment analysts interested in attending the day's events send their business contact information to Elizabeth Gaal at elizabeth.gaal@terex.com. An audio replay of the presentation, as well as copies of the presentation materials, will be available through the Company's website at http://www.terex.com beginning on February 5, 2008. Terex Corporation is a
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November 07, 2007
Nov. 7, 2007-Terex Corporation (NYSE: TEX) today announced that it priced $800,000,000 principal amount of its 8% Senior Subordinated Notes due 2017. This represents an increase of $300 million from the transaction size announced on November 6, 2007. Terex intends to use the net proceeds from the offering to pay down outstanding amounts under its revolving credit facility and for general corporate purposes, including acquisitions, capital expenditures, investments and the repurchase of its outstanding securities. Terex is offering and selling these Senior Subordinated Notes under the Company's existing effective shelf registration statement filed with the Securities and Exchange Commission in July 2007 and amended on November 6, 2007. Terex Corporation is a diversified global manufacturer that operates in five business segments: Aerial Work Platforms, Construction, Cranes, Materials Processing & Mining, and Roadbuilding, Utility Products and Other. Terex manufactures a broad range
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November 06, 2007
Nov. 6, 2007-In BW6622 issued Nov. 6, 2007: In the section that lists the joint book-running managers, insert before "Attention: Prospectus Department": UBS Investment Bank. The corrected release reads: TEREX CORPORATION ANNOUNCES INTENTION TO ISSUE $500 MILLION OF SENIOR SUBORDINATED NOTES Terex Corporation (NYSE: TEX) today announced that it intends to issue approximately $500,000,000 principal amount of Senior Subordinated Notes Due 2015 and 2017. Terex intends to use the net proceeds from the offering to pay down outstanding amounts under its revolving credit facility and for general corporate purposes, including acquisitions, capital expenditures, investments and the repurchase of its outstanding securities. Terex intends to offer and sell these Senior Subordinated Notes under the Company's existing shelf registration statement filed with the Securities and Exchange Commission in July 2007 and amended on November 6, 2007. This press release does not constitute an offer to sell,
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November 06, 2007
Nov. 6, 2007-Terex Corporation (NYSE: TEX) today announced that it intends to issue approximately $500,000,000 principal amount of Senior Subordinated Notes Due 2015 and 2017. Terex intends to use the net proceeds from the offering to pay down outstanding amounts under its revolving credit facility and for general corporate purposes, including acquisitions, capital expenditures, investments and the repurchase of its outstanding securities. Terex intends to offer and sell these Senior Subordinated Notes under the Company's existing shelf registration statement filed with the Securities and Exchange Commission in July 2007 and amended on November 6, 2007. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities of Terex Corporation. Terex Corporation is a diversified global manufacturer that operates in five business segments: Aerial Work Platforms, Construction, Cranes, Materials Processing & Mining, and Roadbuilding, Utility
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November 06, 2007
Nov. 6, 2007-Terex Corporation today announced that it has acquired Superior Highwall Miners, Inc. ("SHM"). SHM, headquartered in Beckley, West Virginia, is a leading manufacturer of highwall mining equipment for use in trench mining, open pit mining, contour mining and auger hole mining applications. The total consideration for the transaction was approximately $140 million payable in cash. Terex anticipates that this transaction will be slightly accretive to 2008 earnings per share. "We believe that the Superior Highwall Miners acquisition provides us with an important growth opportunity," commented Ronald M. DeFeo, Terex Chairman and Chief Executive Officer. "The acquisition is a good fit with Terex's strategy of expanding our market presence in related product areas and is a natural extension of our current Materials Processing & Mining Group business. SHM has existing North American coal relationships and we believe Terex can help accelerate its prospects for increasing
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October 10, 2007
Oct. 10, 2007-You are invited by Terex Corporation (NYSE: TEX) to participate in a conference call to review its third quarter 2007 financial results. The live call will begin on Thursday, October 25, 2007 at 8:30 a.m. EDT. Ronald M. DeFeo, Chairman and CEO, will host the call. To access the call, call (877) 726-6603 on Thursday, October 25, 2007 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 1, 2007 at 5:00 p.m. EDT. To access the replay, please call (800) 642-1687 and enter conference id #20460526. 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 #20460526. Terex Corporation will be releasing its
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September 12, 2007
Sept. 12, 2007-Terex Corporation (NYSE: TEX) today announced that it will participate in the Bank of America Investment Conference at the Ritz-Carlton in San Francisco, CA on Tuesday, September 18, 2007. The meeting will include a presentation by Phil Widman, Senior Vice President and Chief Financial Officer and Kurt Goddard, Manager Financial Planning & Analysis. A live webcast of this presentation can be accessed on Tuesday, September 18, 2007 at 8:30 a.m. PDT on the Terex Corporation website, www.terex.com, under the Investor Relations section. Additionally, a slide presentation from the conference will be available beginning on Tuesday, September 18, 2007, on the Terex website 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 broadcasts, a replay will be available by accessing the above address. Terex Corporation is a
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July 17, 2007
July 17, 2007-Terex Corporation (NYSE:TEX) today announced that its stockholders have approved an amendment to the Company's Certificate of Incorporation to increase the number of shares of common stock the Company is authorized to issue by 150,000,000. The authorization amendment was approved at a Special Meeting of Stockholders held at the Company's headquarters. The Company now has 300,000,000 authorized shares of common stock. "Today's stockholder approval provides Terex with the flexibility we may need going forward in connection with possible future stock splits, financing transactions, acquisitions of other companies or business properties, employee benefit plans and other corporate purposes," said Ronald M. DeFeo, Chairman and Chief Executive Officer. Terex Corporation is a diversified global manufacturer with 2006 net sales of $7.6 billion. Terex operates in five business segments: Aerial Work Platforms, Construction, Cranes, Materials Processing & Mining, and
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July 12, 2007
Thursday, July 26, 2007 at 8:30 a.m. EDT July 12, 2007-You are invited by Terex Corporation (NYSE: TEX) to participate in a conference call to review its second quarter 2007 financial results. The live call will begin on Thursday, July 26, 2007 at 8:30 a.m. EDT. Ronald M. DeFeo, Chairman and CEO, will host the call. To access the call, call (877) 726-6603 on Thursday, July 26, 2007 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, August 2, 2007 at 5:00 p.m. EDT. To access the replay, please call (800) 642-1687 and enter conference id #6908356. 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 #6908356. Terex
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June 08, 2007
June 8, 2007-Terex Corporation (NYSE: TEX) today announced that it will participate in the JP Morgan Basics & Industrials Conference at the Sheraton New York Hotel & Towers in New York, NY on Tuesday, June 12, 2007. The meeting will include a presentation by Phil Widman, Senior Vice President and Chief Financial Officer and Tom Gelston, Director, Investor Relations and Financial Planning & Analysis. A live webcast of this presentation can be accessed on Tuesday, June 12, 2007 at 2:15 p.m. EDT on the Terex Corporation website, www.terex.com, under the Investor Relations section. Additionally, a slide presentation from the conference will be available beginning on Tuesday, June 12, 2007, on the Terex website 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 broadcasts, a replay will be available by accessing the above
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May 24, 2007
May 24, 2007-Terex Corporation (NYSE:TEX) executive team members today told an invited audience of analysts and financial institution representatives that the Company's growth and continuing performance improvement in its five business segments would come from an expected combination of strong worldwide markets and innovative initiatives involving products, services and selling strategies. An audio replay of the day-long series of detailed presentations and the accompanying visual materials will be available on the Company's website at www.terex.com under the Investor Relations section beginning on Friday, May 25, 2007. The Company took the opportunity to announce the introduction of a variety of new equipment to the worldwide construction, mining and infrastructure industries in the coming years. The Company's Materials Processing & Mining segment will introduce the Terex(R) MT 6300 AC-drive mining truck, capable of hauling 400 tons of material. Among the products to be
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May 23, 2007
WESTPORT, Conn., May 23, 2007 (BUSINESS WIRE) - Terex Corporation (NYSE:TEX) today announced that it is calling a Special Meeting of Stockholders to be held July 17, 2007 at its headquarters here to consider a proposal to amend the Company's Certificate of Incorporation to increase the number of shares of common stock the Company is authorized to issue by 150,000,000. The Company currently has 150,000,000 authorized shares of common stock. A proposal for an amendment to increase the authorized number of shares of common stock by 450,000,000 was not approved by stockholders at the Company's Annual Meeting of Stockholders held on May 17, 2007. "Our Board of Directors heard the concerns that stockholders voiced about the size of the first proposed increase in authorized shares," said Ronald M. DeFeo, Chairman and Chief Executive Officer. "We have responded with a more modest proposal that will still provide Terex with the needed flexibility in connection with possible future stock
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May 14, 2007
May 14, 2007-Terex Corporation (NYSE:TEX) today issued a statement from Ronald M. DeFeo, its chairman and chief executive officer, upon the company's listing as the number 4 best performing company on the 2007 Barron's 500 survey. "All of us at Terex are honored to receive this recognition because it reflects the many years of dedicated work by our team members worldwide as well as the confidence shown in us by our customers and our investors," DeFeo said. "While we have grown into one of the world's preeminent construction, mining and infrastructure equipment manufacturers, we continue to view Terex as a young company with significantly more potential in front of us than past successes behind us. "We have successfully taken disparate product lines and weaved them into a well-rounded product portfolio. There is, however, more work to be done in this process and, as we have said before, the best is yet to come. We are pleased to be considered one of the top five performers along with
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May 09, 2007
May 9, 2007-Terex Corporation (NYSE: TEX) today announced that it will participate in the Bank of America Basics/Industrials Conference at Le Parker Meridien Hotel in New York, NY on Thursday, May 10, 2007. The meeting will include a presentation by Phil Widman, Senior Vice President and Chief Financial Officer and Tom Gelston, Director, Investor Relations and Financial Planning & Analysis. A live webcast of this presentation can be accessed on Thursday, May 10, 2007 at 3:00 p.m. EDT on the Terex Corporation website, www.terex.com, under the Investor Relations section. Additionally, a slide presentation from the conference will be available beginning on Thursday, May 10, 2007, on the Terex website 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 broadcasts, a replay will be available by accessing the above address. Terex
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April 25, 2007
April 25, 2007-Terex Corporation (NYSE: TEX) today announced income from continuing operations for the first quarter of 2007 of $113.8 million, or $1.09 per share, compared to income from continuing operations of $76.9 million, or $0.75 per share, for the first quarter of 2006. Income from continuing operations for the first quarter of 2007 included a $12.5 million pretax charge related to the early extinguishment of the Company's 9-1/4% Senior Subordinated Notes, which negatively impacted earnings per share by $0.08. Net sales reached $2,012.7 million in the first quarter of 2007, an increase of 18.8% from $1,693.9 million in the first quarter of 2006. The increase in net sales versus the prior year period was favorably impacted 1.7% by an acquisition and 4.7% by the effect of currency exchange rates. Debt, less cash and cash equivalents, increased in the first quarter of 2007 by $187 million from December 31, 2006 levels. All per share amounts are on a fully diluted basis. "We
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April 11, 2007
Thursday, April 26, 2007 at 8:30 a.m. EDT April 11, 2007-You are invited by Terex Corporation (NYSE: TEX) to participate in a conference call to review its first quarter 2007 financial results. The live call will begin on Thursday, April 26, 2007 at 8:30 a.m. EDT. Ronald M. DeFeo, Chairman and CEO, will host the call. To access the call, call (877) 726-6603 on Thursday, April 26, 2007 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, May 3, 2007 at 5:00 p.m. EDT. To access the replay, please call (800) 642-1687 and enter conference id #5491002. 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 #5491002. Terex
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April 05, 2007
April 5, 2007-Terex Corporation (NYSE: TEX) today announced that it will host an Investment Analyst Meeting on May 24, 2007, at the Hyatt Regency Hotel in Greenwich, Connecticut. The event is scheduled to start at 9:00 AM EDT, and conclude at approximately 4:00 PM EDT. Ronald M. DeFeo, Terex Chairman and Chief Executive Officer, along with the Company's President and Chief Operating Officer, Chief Financial Officer, segment presidents, and other key executives, will provide insight into the Company's longer term strategies and activities that support these strategies. Terex also expects to cover operational and financial topics, as well as providing an update on current market trends impacting the longer term outlook. As space is limited, we would ask that investment analysts interested in attending the day's events send their business contact information to Elizabeth Gaal at egaal@terex.com. An audio replay of the presentation, as well as copies of the presentation materials, will be
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March 13, 2007
March 13, 2007-Terex Corporation (NYSE: TEX) today announced that it will participate in the Citigroup Small and Mid-Cap Conference at The Four Seasons Hotel in Las Vegas, Nevada on Wednesday, March 14, 2007. The meeting will include a presentation by Tom Gelston, Director, Investor Relations and Financial Planning & Analysis. A live webcast of this presentation can be accessed on Wednesday, March 14, 2007 at 3:05 PM (PST) on the Terex Corporation website, www.terex.com, under the Investor Relations section. Additionally, a slide presentation from the conference will be available beginning on Wednesday, March 14, 2007, on the Terex website 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 broadcasts, a replay will be available by accessing the above address. Terex Corporation is a diversified global manufacturer with 2006 net sales
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March 07, 2007
March 7, 2007-Oren G. Shaffer has been appointed to the Terex Corporation (NYSE:TEX) Board of Directors, the company announced today. Shaffer, 64, is vice chairman and chief financial officer, Qwest Communications International, Inc. Qwest provides local telecommunications and related services, long-distance services and wireless, data and video services within a 14-state region of the United States. "Oren Shaffer has both broad financial skills and demonstrated operational expertise," said Ronald M. DeFeo, Terex chairman and chief executive officer. "We look forward to his contribution to board decision making as Terex continues its transformation toward becoming a superb operating company." Prior to joining Qwest in 2002, Shaffer was president and chief operating officer of Sorrento Networks Inc. From 1994 to 2000, he was chief financial officer, Ameritech Corporation. He was president, Virgo Cap, a private equity firm from 1992 to 1994. Shaffer began his corporate career in 1968 in
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March 05, 2007
March 5, 2007-Terex Corporation (NYSE: TEX) today announced that it will participate in the Citigroup Global Industrial Conference at The Grand Hyatt in New York City on Tuesday, March 6, 2007. The meeting will include a presentation by Ronald DeFeo, Chairman and Chief Executive Officer and Tom Gelston, Director, Investor Relations and Financial Planning & Analysis. A live webcast of this presentation can be accessed on Tuesday, March 6, 2007 at 9:45 AM (EST) on the Terex Corporation website, www.terex.com, under the Investor Relations section. Additionally, a slide presentation from the conference will be available beginning on Tuesday, March 6, 2007, on the Terex website 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 broadcasts, a replay will be available by accessing the above address. Terex Corporation is a diversified
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February 14, 2007
Feb. 14, 2007-Terex Corporation (NYSE: TEX) today announced net income for the fourth quarter of 2006 of $100.9 million, or $0.97 per share, compared to net income of $34.8 million, or $0.34 per share, for the fourth quarter of 2005. Net sales for Terex totaled $2,029.5 million in the fourth quarter of 2006, an increase of 29.4% from $1,568.3 million in the fourth quarter of 2005. Debt, less cash and cash equivalents, decreased by $277.0 million from September 30, 2006 levels, reflecting strong income from operations and decreased working capital, offset by period capital expenditures. All per share amounts are on a fully diluted basis. For the full year 2006, the Company reported net income of $399.9 million, or $3.88 per share, compared to net income of $188.5 million, or $1.84 per share, for the full year 2005. Net income for 2006 included a $23.3 million pretax charge related to the early extinguishment of the Company's 10-3/8% Senior Subordinated Notes and its previous senior
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February 13, 2007
WESTPORT, Conn., Feb 13, 2007 (BUSINESS WIRE) - Terex Corporation (NYSE: TEX) is pleased to announce that it has been awarded orders by Fortescue Metals Group Ltd to supply fleets of both trucks and excavators to be used in a major start-up iron ore mining operation in Australia. The total value of the order is in excess of $93 million. The equipment to be supplied includes some of the most up-to-date mining equipment available in the marketplace today, including the following: - Twenty MT3700AC 205-ton capacity haul trucks - Three RH170 excavators - Four RH340 excavators "We are very pleased that Terex Mining was awarded this important contract with Fortescue Metals Group Ltd," commented Ronald M. DeFeo, Terex's Chairman and Chief Executive Officer. "This award demonstrates Terex Mining's continued ability to successfully compete on a global scale, reinforces the technical and cost benefits of our mining products, and verifies our organization's service capability and parts support."
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February 05, 2007
Feb. 5, 2007-Terex Corporation (NYSE: TEX) today announced that it will participate in the Lehman Brothers Industrial Select Conference at The Ritz Carlton in Miami Beach on Tuesday, February 6, 2007. The meeting will include a presentation by Phil Widman, Senior Vice President and Chief Financial Officer and Tom Gelston, Director, Investor Relations and Financial Planning & Analysis. A live webcast of this presentation can be accessed on Tuesday, February 6, 2007 at 4:00 PM (EST) on the Terex Corporation website, www.terex.com, under the Investor Relations section. Additionally, a slide presentation from the conference will be available beginning on Tuesday, February 6, 2007, on the Terex website 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.
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February 02, 2007
Thursday, February 15, 2007 at 8:30 a.m. Eastern Time Feb. 2, 2007-You are invited by Terex Corporation to participate in a conference call to review its fourth quarter and year-end 2006 financial results, as well as its 2007 outlook. The live call will begin on Thursday, February 15, 2007 at 8:30 a.m., Eastern Time. Ronald M. DeFeo, Chairman and CEO, will host the call. To access the call, call (877) 726-6603 on Thursday, February 15, 2007 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 22, 2007 at 5:00 p.m., Eastern Time. To access the replay, please call (800) 642-1687 and enter conference id #7947330. International participants should call (706) 634-5517 at least 15 minutes before the start of the conference call. To access the
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January 23, 2007
Jan. 23, 2007-Terex Corporation (NYSE: TEX) today announced that it will participate in the JP Morgan High Yield Conference at the Loews Miami Beach Hotel in Miami, FL on Wednesday, January 24, 2007. The meeting will include a presentation by Chuck Snavely, Vice President of Finance, Treasury and Risk Management and Kurt Goddard, Manager, Financial Planning and Analysis. A slide presentation from the conference will be available beginning on Wednesday, January 24, 2007, on the Terex website, www.terex.com, under the Investor Relations section. Terex Corporation is a diversified global manufacturer with 2005 revenue of $6.4 billion. Terex operates in five business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, Terex Materials Processing & Mining, and Terex Roadbuilding, Utility Products and Other. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, shipping,
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January 16, 2007
Jan. 16, 2007-Terex Corporation (NYSE: TEX) today announced that it has completed the previously announced redemption of the $200 million principal amount of its 9-1/4% Senior Subordinated Notes due 2011, effective January 16, 2007. The total cash paid was $218.5 million, and included a call premium of 4.625% as set forth in the indenture for these Notes plus accrued interest of $46.25 per $1,000 principal amount at the redemption date. At September 30, 2006, the Notes being called represented $200 million of the Company's $791.7 million of debt. The 9-1/4% Notes were originally issued December 17, 2001. The Bank of New York, trustee for the Notes, acted as the paying agent for the Company in connection with this redemption. Terex Corporation is a diversified global manufacturer with 2005 revenue of $6.4 billion. Terex operates in five business segments: Terex Construction, Terex Cranes, Terex Aerial Work Platforms, Terex Materials Processing & Mining, and Terex Roadbuilding,
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