WESTPORT, Conn.--(BUSINESS WIRE)--Nov. 3, 2005--Terex Corporation
(NYSE: TEX) has announced the promotion of Colin Robertson to the
position of Terex Corporation Executive Vice President - Operations,
effective January 1, 2006. In this new critical and strategic role,
Mr. Robertson will report directly to Ronald M. DeFeo, Terex's
Chairman and Chief Executive Officer, and will be headquartered in
Terex's corporate offices in Westport, CT. In this assignment, Mr.
Robertson will be responsible for developing and implementing
world-class capability in supply chain management, logistics and
global purchasing, as well as for improving manufacturing facility
utilization around the world. He also will play a key role in Terex's
China initiatives and the implementation of an Oracle enterprise
computer system throughout the Company.
Commenting on Mr. Robertson's promotion, Mr. DeFeo stated, "Terex
currently has 48 manufacturing locations worldwide and spends roughly
$4 billion annually on material purchases from our suppliers
worldwide. Historically, Terex supply chain decisions have been made
at the local level on a site by site basis. This operating structure
provided limited opportunity to leverage Terex's size for the benefit
of our customers and shareholders." Mr. DeFeo continued, "Terex needs
to develop a competency in logistics and supply chain management that
transcends individual business units. Local responsibility will be
retained, but we need to overlay a comprehensive effort to reduce
cost, improve quality, simplify our operating system and optimize new
product development to market time. We must take full advantage of
this major opportunity."
"Also important to Terex, we must develop a comprehensive supply
chain strategy from our own Terex companies, as well as our ventures
in China, Mexico, India, the Czech Republic, Hungary and other
developing nations," Mr. DeFeo added. "Colin brings a unique Terex
perspective that, with the support of the entire leadership team, will
help make us a better and stronger company."
Mr. Robertson began his career with managerial positions at
Cummins Engine Company and J.I. Case Co., and has been with Terex for
eleven years. In that time, he has held a number of key leadership
positions across the Company, most recently as President - Terex
Construction. He has worked in both Europe and the United States, and
has spent time in the Company's Cranes and Mining business units, as
well as working closely in recent years with Terex's Aerial Work
Platforms business.
Terex Corporation is a diversified global manufacturer with 2004
net sales of approximately $5 billion. Terex operates in five business
segments: Terex Construction, Terex Cranes, Terex Aerial Work
Platforms, 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, 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
Investor Relations:
Tom Gelston, 203-222-5943
SOURCE: Terex Corporation