WESTPORT, Conn.--(BUSINESS WIRE)--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 Changzhou, China, a few hours
northwest of Shanghai, to build its production facility, and plans to
break ground mid-year. Initial production will focus on preparing a
line of personnel lifts, but over time a full range of aerial work
platform products is expected to be produced from this facility. In
addition to Genie(R) products, the park in Changzhou was chosen for
its ability potentially to be enlarged as part of a future Terex
manufacturing campus.
"The Asia market in general, and the China market specifically, is
learning about the importance of the lift product category," said
Ford. "Aerial work platforms are increasingly becoming more widely
accepted as a safe option for people who work in high places."
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 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, transportation,
refining and utility 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
Media
Mike Bazinet, 203-222-6113
Director, Global Communications
michael.bazinet@terex.com
or
Investors
Tom Gelston, 203-222-5943
Director, Investor Relations
thomas.gelston@terex.com
SOURCE: Terex Corporation