December 02, 2008
Dec. 2, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the Gabelli & Company Best Ideas Conference at The Grand Hyatt in New York, New York on Thursday, December 4, 2008. The meeting will include a presentation at 3:30 PM EST by Phil Widman, Senior Vice President and Chief Financial Officer and Laura Kiernan, Director, Investor Relations. A live webcast and slide presentation from this conference can be accessed 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 by accessing the above address. Terex Corporation is a diversified global manufacturer with 2007 net sales of more than $9.1 billion. Terex operates in five business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, Terex Materials ...
October 31, 2008
Oct. 31, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the Goldman Sachs Global Industrials Conference at The New York Palace Hotel in New York, New York on Wednesday, November 5, 2008. The meeting will include a presentation at 3:30 PM EST by Eric Nielsen, President, Terex Materials Processing and Mining, and Kurt Goddard, Manager, Investor Relations. Terex Corporation will also participate in the Robert W. Baird Annual Industrial Conference at The Four Seasons Hotel in Chicago, Illinois on Wednesday, November 12, 2008. The meeting will include a presentation at 10:40 AM CST by Phil Widman, Senior Vice President and Chief Financial Officer, and Laura Kiernan, Director, Investor Relations. A live webcast and slide presentation from these conferences can be accessed 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 ...
October 15, 2008
Terex Corporation (NYSE:TEX) will release its third quarter 2008 financial results on Wednesday, October 22, 2008 after market close. The Company will host a conference call to review the financial results on Thursday, October 23, 2008 at 8:30 a.m. EDT. Ronald M. DeFeo, Chairman and CEO, will host the call. To access the call, dial 1-877-726-6603 on October 23, 2008 at least 10 minutes before the call is scheduled to begin. International participants should dial 1-706-634-5517. A simultaneous webcast of this conference call will also be available at www.terex.com in the Investor Relations section of the website. A replay will be available shortly after the live call and can be accessed until Thursday, October 30, 2008 at 5:00 p.m. EDT. To access the telephone replay, please dial 1-800-642-1687 (International 1-706-645-9291) and enter conference id #69096538. To access the web replay of the call, go to the Investor Relations section of the Company's website at www.terex.com. Terex ...
September 08, 2008
Sept. 8, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the Morgan Stanley Global Industrials CEOs Unplugged Conference at The Ritz-Carlton, Laguna Niguel in Dana Point, California on Thursday, September 11, 2008. The meeting will include a presentation at 12:20 PDT by Ronald DeFeo, Chairman and Chief Executive Officer, and Laura Kiernan, Director, Investor Relations. Terex Corporation will also participate in the Bank of America 38th Annual Investment Conference at The Ritz-Carlton in San Francisco, California on Wednesday, September 17, 2008. The meeting will include a presentation at 1:30 PDT by Robert Isaman, President, Terex Construction and Kurt Goddard, Manager, Investor Relations. A live webcast and slide presentation from these conferences can be accessed 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 ...
September 04, 2008
Sept. 4, 2008-Terex Corporation (NYSE: TEX) today announced that it is updating 2008 full year guidance and providing quarterly guidance due to changing market conditions. Full year 2008 earnings per share are expected to be between $6.35 and $6.65 compared to $5.85 for the full year 2007, a 9% to 14% increase. Net sales for 2008 are expected to be in the range of $10.2 to $10.6 billion. This guidance compares to the previously announced range for 2008 earnings per share of $6.85 to $7.15 and net sales of $10.5 to $10.9 billion. Earnings per share are expected to be between $1.26 and $1.38 for the third quarter of 2008 and between $1.20 and $1.33 in the fourth quarter of 2008. This outlook reflects an effective tax rate of approximately 33% and the continued benefit of reduced share count from the Company's share repurchase program. All per share amounts are on a fully diluted basis. "While our Cranes and Materials Processing & Mining segments continue to perform better than our ...
August 11, 2008
Aug. 11, 2008-Terex Corporation (NYSE: TEX) today announced that it has reached a definitive agreement to acquire the port equipment businesses of Fantuzzi Industries S.a.r.l. for total consideration of approximately EUR 215 million. These businesses are global leaders in the design, manufacture, and service of port equipment, with factories in Italy, Germany and China, as well as sales and service branches around the world. The company had 2007 revenues of approximately EUR 447 million. The transaction is subject to customary closing conditions, including regulatory approval, and is anticipated to close in the fourth quarter of 2008. "This acquisition provides us with an important growth opportunity in the intermodal transportation area of infrastructure," said Ronald M. DeFeo, Terex Chairman and Chief Executive Officer. "The acquisition is an excellent fit with our strategy of expanding our market presence in related product areas and is a natural extension of our Cranes business. ...
August 06, 2008
Aug. 6, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the Jefferies Industrial CEO Summit at the Broadmoor in Colorado Springs, Colorado on Wednesday, August 13, 2008. The meeting will include a presentation by Phil Widman, Senior Vice President and Chief Financial Officer and Laura Kiernan, Director, Investor Relations. Terex Corporation will also participate in the Credit Suisse Electrical Equipment, Multi-Industry and Machinery Conference at the Water's Edge Resort & Spa in Westbrook, Connecticut on Wednesday, August 13, 2008. The meeting will include a presentation by Tom Riordan, President and Chief Operating Officer and Kurt Goddard, Manager, Investor Relations. The slide presentations from these conferences will be available on Wednesday, August 13, 2008 on the Terex Corporation website, www.terex.com, under the Investor Relations section. Terex Corporation is a diversified global manufacturer with 2007 net sales of more than $9.1 billion. ...
July 23, 2008
July 23, 2008-Terex Corporation (NYSE: TEX) today announced net income for the second quarter of 2008 of $236.3 million, or $2.32 per share, compared to net income of $174.6 million, or $1.66 per share, for the second quarter of 2007, an increase in earnings per share of 39.8%. Net sales of $2,935.9 million in the second quarter of 2008 were 25.3% above the comparable period in 2007. The increase in net sales versus the prior year period was favorably impacted by acquisitions and by the translation effect of foreign currency exchange rate changes (3.4% and 7.9%, respectively). Excluding these effects, net sales increased 14.1% in the second quarter of 2008 versus the prior year period. All per share amounts are on a fully diluted basis. "Results this quarter demonstrate the continued strength of our global franchise," commented Ron DeFeo, Terex Chairman and Chief Executive Officer. "The infrastructure and commodity boom is driving strong demand for our cranes and mining equipment. ...
July 15, 2008
July 15, 2008-Terex Corporation (NYSE: TEX) today announced that its Board of Directors has authorized an increase in 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 amount that may be repurchased under the share repurchase program to $1.2 billion, while keeping the program period expiration date of 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 June 30 2008, the Company has purchased approximately $362 million of shares under the repurchase program. "This action represents the second step-up in our share repurchase program since the program began. We continue to believe that investing in our shares provides an attractive return," said Ronald M. DeFeo, Chairman and CEO of Terex. "Terex has the financial strength ...
July 10, 2008
WESTPORT, Conn., Jul 10, 2008 (BUSINESS WIRE) - Terex Corporation (NYSE:TEX) will release its second quarter 2008 financial results on Wednesday, July 23, 2008 after market close. The Company will host a conference call to review the financial results on Thursday, July 24, 2008 at 8:30 a.m. EDT. Ronald M. DeFeo, Chairman and CEO, will host the call. To access the call, dial 1-877-726-6603 on July 24, 2008 at least 10 minutes before the call is scheduled to begin. International participants should dial 1-706-634-5517. A simultaneous webcast of this conference call will also be available at www.terex.com in the Investor Relations section of the website. A replay will be available shortly after the live call and can be accessed until Thursday, July 31, 2008 at 5:00 p.m. EDT. To access the telephone replay, please dial 1-800-642-1687 (International 1-706-645-9291) and enter conference id #54790569. To access the web replay of the call, go to the Investor Relations section of the Company's ...
June 20, 2008
June 20, 2008-Terex Corporation (NYSE: TEX) today announced that it will host an Investment Analyst Meeting on September 4, 2008, at the Terex Corporation headquarters in Westport, 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, and Tom Riordan, President and Chief Operating Officer, along with the 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 to "save the date"and send their business contact information to Elizabeth Gaal at elizabeth.gaal@terex.com. Terex Corporation is a diversified ...
June 17, 2008
June 17, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the Wachovia Securities Nantucket Equity Conference in Nantucket, MA on Wednesday, June 25, 2008. The meeting will include a presentation by Ronald DeFeo, Chairman and Chief Executive Officer. A live webcast of this presentation can be accessed on Wednesday, June 25, 2008 at 3:30 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 Wednesday, June 25, 2008, 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 by accessing the above address. Terex Corporation is a diversified global manufacturer with 2007 net sales of more than $9.1 billion. Terex operates in five ...
June 09, 2008
WESTPORT, Conn., Jun 09, 2008 (BUSINESS WIRE) - Terex Corporation (NYSE: TEX) today announced that Eric A. Nielsen has been named President, Terex Materials Processing & Mining, effective today. He will report to Terex President and Chief Operating Officer Thomas J. Riordan. Mr. Nielsen, 48, joins Terex from Volvo Construction Equipment, where he served as President and Chief Executive Officer, Volvo Excavators and Volvo Group Korea, since 2000. Under his leadership, the group grew into a large global operation. From 1998-2000, Mr. Nielsen was Chief Financial Officer and Chief Information Officer, Volvo Construction Equipment Korea. He began his tenure with the company in 1994 as Vice President, Business Control and Information Systems. "Eric Nielsen brings to his new role as President of Terex Materials Processing & Mining an impressive combination of technical knowledge, strategic and financial skills, and hands-on operational experience," said Mr. Riordan. "His expertise in ...
May 31, 2008
Terex Corporation (NYSE: TEX) today announced net income for the first quarter of 2005 of $30.3 million, or $0.59 per share, compared to net income of $17.0 million, or $0.34 per share, for the first quarter of 2004. Excluding the impact of special items for the first quarter of 2005, net income was $30.8 million, or $0.60 per share, while there were no special items during the first quarter of 2004. Special items for the first quarter of 2005 included charges for investigation costs associated with the Company's internal review and the restatement of its financial statements for the fiscal periods 2000, 2001, 2002, and 2003, and charges relating to the closure of certain Terex Utilities branches. As discussed in the "Capital Structure and Taxes" section of this release, for the period ended March 31, 2005, the Company is using an estimated tax rate of 35%, versus the 30.3% rate used for the first quarter of 2004. Net sales increased to $1,448.9 million in the first quarter of 2005, ...
May 30, 2008
May 30, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the JPMorgan Basics & Industrials Conference at the Sheraton New York Hotel in New York City on Wednesday, June 4, 2008. The meeting will include a presentation by Tim Ford, President, Terex Aerial Work Platforms at 7:30 a.m. EDT. A live webcast of this presentation can be accessed on the Terex Corporation website, www.terex.com, under the Investor Relations section. Terex Corporation will also participate in the KeyBanc Capital Markets Industrial, Automotive & Transportation Conference at the Boston Park Plaza Hotel in Boston, Massachusetts on Thursday, June 5, 2008. The meeting will include a presentation by Tom Riordan, President and Chief Operating Officer. The slide presentations from both conferences will be available on the Terex website under the Investor Relations section. Terex Corporation is a diversified global manufacturer with 2007 net sales of more than $9.1 billion. Terex ...
May 27, 2008
May 27, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the Sanford Bernstein Strategic Decisions Conference at the Waldorf Astoria in New York, NY on Friday, May 30, 2008. The meeting will include a presentation by Ronald DeFeo, Chairman and Chief Executive Officer. A live webcast of this presentation can be accessed on Friday, May 30, 2008 at 11:00 a.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 Friday, May 30, 2008, 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 by accessing the above address. Terex Corporation is a diversified global manufacturer with 2007 net sales of more than $9.1 billion. Terex operates ...
May 15, 2008
May 15, 2008-Thomas J. Hansen and David C. Wang have been elected to the Terex Corporation (NYSE:TEX) Board of Directors, the company announced today. Mr. Hansen, 59, is Vice Chairman of Illinois Tool Works, Inc., a manufacturer of fasteners and components, consumable systems and a variety of specialty products and equipment. He is responsible for ITW's worldwide Automotive Components and Fastener, Fluids and Polymers, Industrial Metal and Plastic and Construction businesses. From 1998 until 2006, Mr. Hansen served as Executive Vice President of ITW. He joined the company in 1980 as sales and marketing manager of the Shakeproof Industrial Products businesses and has held several other positions within the company. Mr. Wang, 64, is President of Boeing China Inc. and Vice President of International Relations of The Boeing Company, a manufacturer of commercial and military aircraft, and has held these positions since 2002. Prior to joining Boeing, Mr. Wang served as Chairman and Chief ...
May 06, 2008
May 6, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the Bank of America Basics Industrials Conference at the New York Palace Hotel in New York, NY on Thursday, May 8, 2008. The meeting will include a presentation by Ronald DeFeo, Chairman and Chief Executive Officer and Laura Kiernan, Director, Investor Relations. A live webcast of this presentation can be accessed on Thursday, May 8, 2008 at 8:00 a.m. EDT on the Terex Corporation website, www.terex.com, under the Investor Relations section. Terex Corporation will also participate in the Merrill Lynch Global Industries Conference at the Merrill Lynch Financial Centre in London, England on Thursday, May 8, 2008. The meeting will include a presentation by Phil Widman, Senior Vice President and Chief Financial Officer and Kurt Goddard, Manager, Investor Relations. The slide presentations from these conferences will be available on Thursday, May 8, 2008 on the Terex Corporation website, www.terex.com, ...
May 05, 2008
May 5, 2008-Terex Corporation (NYSE: TEX) today announced that Laura Kiernan has been appointed to the position of Director, Investor Relations. Ms. Kiernan will have responsibility for all Terex Corporation investor communications and succeeds Tom Gelston, who has been promoted to Vice President of Business Development. Ms. Kiernan comes to Terex with more than seventeen years of experience in Investor Relations, Corporate Finance, Accounting, Treasury and Auditing. Ms. Kiernan was the Vice President of Investor Relations at Playtex Products, Inc., which recently merged with Energizer where she was responsible for communicating the company's strategy and results to the investment community, while building relationships with research analysts and institutional investors. Prior to joining Playtex, Ms. Kiernan directed Investor Relations for Revlon where she worked closely with management to develop key communications and significantly improve Revlon's visibility with investors and ...
April 23, 2008
WESTPORT, Conn., Apr 23, 2008 (BUSINESS WIRE) - Terex Corporation (NYSE: TEX) today announced net income for the first quarter of 2008 of $163.3 million, or $1.59 per share, compared to net income of $113.8 million, or $1.09 per share, for the first quarter of 2007, an increase in earnings per share of 46%. Net income 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 $2,362.7 million in the first quarter of 2008, an increase of 17.4% from $2,012.7 million in the first quarter of 2007. The increase in net sales versus the prior year period was favorably impacted by acquisitions and by the effect of currency exchange rates (1.9% and 6.1%, respectively). All per share amounts are on a fully diluted basis. "We are pleased with the first quarter's results, with both net sales and net income growth posting solid ...
April 21, 2008
Products provide solutions for inspection and repair work needed for nation's aging bridges April 21, 2008-Terex Corporation (NYSE: TEX) today announced that it has acquired Hydra Platforms Mfg., Inc. Based in Rock Hill, South Carolina, Hydra Platforms is a leading manufacturer of truck and trailer mounted self erecting under-bridge access equipment used for bridge construction, maintenance and inspection. Terms were not disclosed. Hydra Platforms will become part of the Terex Roadbuilding segment and will work with the company's Bid-Well subsidiary. Bid-Well is the leading manufacturer, seller and service provider of bridge paving equipment in the United States. "Hydra is a leader in a growing market for under-bridge access," said George Ellis, Vice President and General Manager, Terex Roadbuilding. "More than 93% of bridges in the United States were built before 1980 and 25 percent have been designated as structurally deficient or functionally obsolete. As a result, more funds are ...
April 15, 2008
April 15, 2008-Terex Corporation (NYSE: TEX) today announced that as part of a plan to expand globally, Genie Industries, a leading manufacturer of aerial work platforms and part of the Terex Corporation Aerial Work Platforms (AWP) segment, has selected a new manufacturing site in China. This announcement follows recent news that Terex AWP has begun manufacturing Genie(R) scissor lifts in Coventry, England, and Genie(R) aerial booms and telehandlers in Perugia, Italy. "In 2007, a large percentage of our sales came from outside of North America," said Tim Ford, President, Terex AWP. "Our markets around the world are growing and we want to provide them with world class products, designed and produced locally, to their local specifications. Manufacturing globally will shorten lead times for all customers, as the addition of this new plant will also free up some of our current capacity to support customers in other regions of the world more effectively." Genie chose a business park in ...
April 10, 2008
Thursday, April 24, 2008 at 8:30 a.m. EDT April 10, 2008-You are invited by Terex Corporation (NYSE: TEX) to participate in a conference call to review its first quarter 2008 financial results. The live call will begin on Thursday, April 24, 2008 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 April 24, 2008 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 1, 2008 at 5:00 p.m. EDT. To access the replay, please call (800) 642-1687 and enter conference id #42839012. 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 #42839012. Terex Corporation ...
March 13, 2008
March 13, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the Lehman Brothers High Yield Bond & Syndicated Loan Conference at Disney's Yacht & Beach Club Resort in Orlando, Florida on Friday, March 14, 2008. 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 Friday, March 14, 2008 at 8:00 a.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 Friday, March 14, 2008, 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 by accessing the above ...
March 04, 2008
March 4, 2008-Terex Corporation (NYSE: TEX) today announced that it has completed the acquisition of A.S.V., Inc. (Nasdaq: ASVI) by means of a short form merger under Minnesota law. ASV is now a wholly-owned subsidiary of Terex and part of the Terex Construction segment. "We are extremely enthusiastic that ASV and its team members are now part of the Terex Construction family," said Robert Isaman, President, Terex Construction. "With ASV as a proven leader in compact track loader technology combining the global reach of Terex, we see a real opportunity for expanding ASV product sales. ASV is an excellent strategic and cultural fit and provides a great addition to our product offerings as Terex continues to grow as a global construction equipment manufacturer." On February 26, 2008, Terex announced the successful completion of its tender offer for ASV common stock. In the merger, each outstanding share of common stock, par value $0.01 per share, of ASV not tendered in the tender offer ...
March 03, 2008
March 3, 2008-Terex Corporation (NYSE: TEX) today announced that it will participate in the Citigroup Global Industrial Manufacturing Conference at the Grand Hyatt in New York City, NY on Tuesday, March 4, 2008. 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, March 4, 2008 at 9:45 a.m. 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 4, 2008, 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 ...
February 26, 2008
WESTPORT, Conn., Feb 26, 2008 (BUSINESS WIRE) - Terex Corporation (NYSE: TEX) ("Terex") today announced the successful completion of its cash tender offer for all of the outstanding shares of common stock of A.S.V., Inc. (NasdaqGS: ASVI) ("ASV") for $18.00 per share. The offer expired at midnight, New York City time, Monday, February 25, 2008, at which time a total of approximately 27,133,130 shares of ASV, including 3,074,315 shares tendered under guaranteed delivery procedures, had been tendered and not withdrawn, representing approximately 98% of the outstanding ASV common stock. All shares that were validly tendered and not withdrawn have been accepted for payment in accordance with the terms of the tender offer. Terex through its direct wholly owned subsidiary, Terex Minnesota, Inc., will acquire all of the remaining outstanding shares of ASV common stock by means of a merger under Minnesota law. In the merger, each outstanding share of ASV common stock (other than shares to ...
February 20, 2008
Feb. 20, 2008-Terex Corporation (NYSE: TEX) ("Terex") today announced that it has received all necessary regulatory approvals and third party consents, including most recently from the regulatory authority in Germany, in connection with its cash tender offer for all of the outstanding shares of common stock of A.S.V., Inc. (NasdaqGS: ASVI) ("ASV") for $18.00 per share. The tender offer is being made pursuant to a merger agreement with ASV, dated as of January 13, 2008, and is scheduled to expire at midnight, New York City time, at the end of Monday, February 25, 2008, unless extended. About Terex 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 Roadbuilding, Utility Products and Other. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, ...
February 20, 2008
Feb. 20, 2008-Terex Corporation (NYSE: TEX) today announced net income for the fourth quarter of 2007 of $174.0 million, or $1.67 per share, compared to net income of $100.9 million, or $0.97 per share, for the fourth quarter of 2006. All per share amounts are on a fully diluted basis. For the full year 2007, the Company reported income from continuing operations of $613.9 million, or $5.85 per share, compared to income from continuing operations of $396.5 million, or $3.85 per share, for the full year 2006. Income from continuing operations for 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. Income from continuing operations 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 bank credit facilities, which negatively impacted earnings per share ...
February 19, 2008
Addressing National Summit on Infrastructure and The Economy, AFL-CIO Chief John Sweeney Says Unions' Multi-Trillion Benefit Funds Could Be Part of the Financing Solutions John Engler, President of the National Association of Manufacturers says "The time is now to work together..." Feb. 19, 2008-Addressing a national conference on "Infrastructure: The Road to Prosperity" sponsored by Terex Corporation at Iona College today, John Sweeney, president of the AFL-CIO, called for an alliance of labor, business, and government to implement a comprehensive, long-term economic stimulus plan for creating jobs by re-building the nation's crumbling infrastructure. Joining speakers and panelists that included: Susan Eisenhower; Rep. Jim Oberstar, Chairman of the House Committee on Transportation and Infrastructure; former New York Gov. George Pataki; former Michigan Gov. John Engler, President of the National Association of Manufacturers; former Congressmen Harold Ford Jr., and former Majority ...
February 08, 2008
Feb. 8, 2008-Terex Corporation (NYSE: TEX) ("Terex") today announced the expiration of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the cash tender offer by Terex for all of the outstanding shares of common stock of A.S.V., Inc. (NasdaqGS: ASVI) ("ASV") for $18.00 per share. The tender offer is being made pursuant to a merger agreement with ASV, dated as of January 13, 2008, and is scheduled to expire at midnight, New York City time, at the end of Monday, February 25, 2008, unless extended. About Terex 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 Roadbuilding, Utility Products and Other. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, ...
February 06, 2008
Thursday, February 21, 2008 at 8:30 a.m. EST Feb. 6, 2008-You are invited by Terex Corporation (NYSE: TEX) to participate in a conference call to review its fourth quarter and year-end 2007 financial results, as well as its 2008 outlook. The live call will begin on Thursday, February 21, 2008 at 8:30 a.m. EST. Ronald M. DeFeo, Chairman and CEO, will host the call. To access the call, call (877) 726-6603 on February 21, 2008 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 28, 2008 at 5:00 p.m. EST. To access the replay, please call (800) 642-1687 and enter conference id #34272053. 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) ...
January 29, 2008
Jan. 29, 2008-As previously announced, Terex Corporation (NYSE: TEX) will be hosting 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. The presentations will then be followed by a lunch and informal question and answer session. 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 no later than February 5, 2008. Individuals interested in attending the day's events should send their business contact information to ...
January 28, 2008
Jan. 28, 2008-Terex Corporation (NYSE: TEX) today announced that Terex Minnesota, Inc., a wholly owned subsidiary of Terex, has commenced a tender offer to purchase all of the outstanding shares of A.S.V., Inc. (NASDAQ: ASVI) ("ASV") common stock for $18.00 per share in cash. The tender offer (the "Offer") is being made pursuant to a merger agreement ("the Agreement") with ASV, dated as of January 13, 2008, and is scheduled to expire at midnight, New York City time, at the end of Monday, February 25, 2008, unless extended. The Board of Directors of ASV has recommended that holders of shares of ASV common stock accept the Offer and tender their shares in the Offer. There is no financing condition to the tender offer. The tender offer is subject to the satisfaction of certain conditions set forth in the Agreement, including there being validly tendered and not withdrawn a majority of the total number of outstanding shares of common stock of ASV on a fully-diluted basis, the receipt of ...
January 23, 2008
Jan. 23, 2008-Terex Corporation today announced that it will sponsor Infrastructure: A Pathway to Prosperity, a day-long conference to be held February 19, 2008 at Iona College, dedicated to examining the critical role of infrastructure in advancing the global and U.S. economies. The conference will focus on the historical role of infrastructure in creating economic growth and opportunity; the challenges facing America's aging infrastructure; and how we pay to fix the problem, including new methods for financing public works. Topics such as congestion pricing, interstate transmission grid improvement needs and public- private financing options also will be covered. Despite bridge collapses, steam pipe explosions, the devastation of Hurricane Katrina, crippling blackouts and the 9/11 attacks, a consensus has yet to emerge on how best to tackle a growing problem that could cripple our economy and threaten the health and safety of all Americans. This conference's main objective is to ...
January 16, 2008
Jan. 16, 2008-Terex Corporation (NYSE: TEX) today announced several senior executive appointments in support of its strategy to increase its market presence in high growth markets around the globe. The appointments are effective today. Steve Filipov, who has been President, Terex Cranes, has been named to the new position of President, Developing Markets and Strategic Accounts, reporting to Terex President and Chief Operating Officer Tom Riordan. Mr. Filipov has led the Terex Cranes team that has dramatically increased business and profitability in the last three years. Much of this growth has come from developing markets. Rick Nichols has been named President, Terex Cranes. He has been serving as President, Terex Materials Processing & Mining (MP&M). He also reports to Mr. Riordan. Mr. Nichols has been successful in leading the advancement of lean manufacturing capabilities to improve margins and capacity, overseeing acquisitions, and changing the business strategy for the ...
January 14, 2008
WESTPORT, Conn., Jan 14, 2008 (BUSINESS WIRE) - Terex Corporation (NYSE: TEX) today announced that it has reached a definitive agreement to acquire A.S.V., Inc. (NASDAQ: ASVI) through a tender offer followed by a merger. Headquartered in Grand Rapids, Minnesota, ASV is a manufacturer of compact rubber track loaders and related accessories, undercarriages and traction products. The transaction is valued at approximately $488 million, or $18 per fully diluted share of ASV common stock, and is subject to the valid tender of a majority of ASV's fully diluted common shares, regulatory approvals and other customary conditions. Terex expects the transaction to close by the end of the first quarter of 2008. "ASV is a leader in compact track loader technology and with the global reach of Terex, we see tremendous opportunity for expanding ASV product sales," said Ronald M. DeFeo, Terex Chairman and Chief Executive Officer. "The ASV acquisition is an excellent strategic and cultural fit and ...