BEIJING--(BUSINESS WIRE)--Nov. 13, 2017--
Terex Corporation (NYSE:TEX) joined 27 other companies on the U.S. Trade Mission to China led by President Donald Trump and Secretary of Commerce
Wilbur Ross and hosted by China President Xi Jinping. The mission’s
purpose was to promote commercial opportunities for U.S. business in
China.
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Front Row - left: John Garrison, CEO & President of Terex Corporation; right: YIN Yaping, President of Xuzhou Handler Special Vehicles Co., Ltd.Back Row - left to right: Wilbur Ross, U.S. Secretary of Commerce; WANG Yang, Vice Premier of China; ZHONG Shan, China Minister of Commerce
Photo Credit: Chinese State Council (www.gov.cn)
Joining Terex at official trade delegation events were Xuzhou Handler
Special Vehicles Co., Ltd., the distributor for Terex® Utilities
products in China; and Shanghai Horizon Equipment & Engineering Co.,
Ltd, China’s leading aerial work platform rental business and a valued
customer of Genie® equipment.
During the mission, Terex Utilities and Xuzhou Handler signed a letter
of intent for Xuzhou to purchase 5,000 units of insulated aerial devices
from Terex over a five-year period, with a total value of more than USD
250 million. These products will enable and support the continuing
improvement and ongoing adoption of live line work practices in the
Chinese public utility sector. The signing was witnessed by Secretary
Ross and China’s Vice Premier Wang Yang.
“It’s been an honor for Terex to participate in the Trade Mission,” said
John Garrison, President and CEO of Terex Corporation. “The visit helped
us to renew our longstanding relationships in China and to build new
ones. We thank Xuzhou Handler for their business and look forward to
working with them and with other customers and prospective customers in
China to continue to advance safe work practices for working at height
and on live lines. In so doing, we expect that all involved will benefit
from expanded business opportunities.”
Terex has been committed to driving the adoption of safe work practices
in China and engaging in mutually beneficial business relationships for
almost three decades. The company currently has more than 600 team
members in China with facilities in Beijing, Shanghai and Changzhou.
Since 2013, Terex has organized a series of safety focused reverse trade
missions and executive training programs in the United States. Terex
partnered with China’s State Administration of Work Safety to facilitate
enactment of standards and regulations relevant to work at heights and
heavy lifting safety and partnered with the U.S. Trade Development
Agency to promote ‘live-line’ awareness at China’s State Grid and
Southern Grid. These relationships have helped to cultivate a growth
market environment for Terex Corporation’s technologies and products,
including Genie® aerials, Terex® insulated aerial devices and Terex® and
Demag® cranes.
About Terex:
Terex Corporation is a global manufacturer of lifting and material
processing products and services that deliver lifecycle solutions to
maximize customer return on investment. The Company reports in three
business segments: Aerial Work Platforms, Cranes, and Materials
Processing. Terex delivers lifecycle solutions to a broad range of
industries, including the construction, infrastructure, manufacturing,
shipping, transportation, refining, energy, utility, quarrying and
mining industries. Terex offers financial products and services to
assist in the acquisition of Terex equipment through Terex Financial
Services. Terex uses its website (www.terex.com)
and its Facebook page (www.facebook.com/TerexCorporation)
to make information available to its investors and the market.
Forward Looking Statements:
This press release contains forward-looking information regarding future
events or Terex’s future financial performance based on the current
expectations of Terex Corporation. In addition, when included in this
press release, the words “may,” “expects,” “intends,” “anticipates,”
“plans,” “projects,” “estimates” and the negatives thereof and analogous
or similar expressions are intended to identify forward-looking
statements. However, the absence of these words does not mean that the
statement is not forward-looking. Terex has based these forward-looking
statements on current expectations and projections about future events.
These statements are not guarantees of future performance.
Actual events or the actual future results of Terex may differ
materially from any forward-looking statement due to these and other
risks, uncertainties and significant factors. The forward-looking
statements speak only as of the date of this release. Terex expressly
disclaims any obligation or undertaking to release publicly any updates
or revisions to any forward-looking statement included in this release
to reflect any changes in expectations with regard thereto or any
changes in events, conditions, or circumstances on which any such
statement is based.
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Terex Corporation
Brian J. Henry, 203-222-5954
Senior Vice
President
Business Development & Investor Relations
brian.henry@terex.com
Source: Terex Corporation
Terex Corporation
Brian J. Henry, 203-222-5954
Senior Vice
President
Business Development & Investor Relations
brian.henry@terex.com