WESTPORT, Conn.--(BUSINESS WIRE)--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 capability
and parts support."
"This order is significant for several reasons," said Rick
Nichols, President of Terex Mining. "It comes on the heels of a very
successful first quarter order increase that almost doubled Terex
Mining's backlog to $77 million as of March 31. Additionally, it
further enhances the position of our mining business within the
industry and broadens our customer base." Mr. Nichols continued, "The
Unit Rig AC model trucks have been recognized as having far superior
performance than the older DC models in this size range, a fact taken
into account by the customer in his evaluation process."
The Unit Rig AC model trucks will be manufactured by Terex and
Terex suppliers in North American based facilities. The excavators are
the latest design offerings from the Terex O&K factory in Dortmund,
Germany, and the RH340 will be the same as the one shown at the recent
Bauma show, bringing to four the total of this new and innovative
model sold since that time.
Mr. Nichols added, "Terex will deliver the majority of the
equipment before the end of 2004. Additionally, Terex will be
supplying factory trained site support. This order is significant by
any standard and indicative of the fleet expansion Henry Walker Eltin
is undergoing over the next few years."
Terex Corporation is a diversified global manufacturer with 2003
revenues of $3.9 billion. The Company operates in five business
segments: Terex Construction, Terex Cranes, Terex Aerial Work
Platforms, Terex 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, recycling, surface mining, shipping, transportation,
refining, utility and maintenance industries. Terex offers a complete
line of financial products and services to assist in the acquisition
of Terex equipment through Terex Financial Services. More information
on Terex can be found at www.terex.com.
CONTACT: Terex Corporation
Tom Gelston, 203-222-5943
SOURCE: Terex Corporation