Terex achieves 4% increase in net sales in 2Q19 vs 2Q18

Terex Corporation yesterday announced 2Q19 net sales of US$1.3 billion, up 4% vs 2Q18. On an FX-neutral basis, global sales increased 8% compared to the second quarter of 2018.

Terex MP had another excellent quarter with sales of US$365 million, an increase of 9%, or 13% excluding the impact foreign exchange rates, vs 2Q18, driven by global demand for its broad range of products and services including crushing and screening products, material handlers, cement mixer trucks, and pick and carry equipment. MP’s backlog of US$364 million positions the segment well heading into the second half of 2019.

“Terex continued to grow in the second quarter,” stated John L. Garrison, Terex Chairman and CEO. “Global demand for our leading products and services remained generally stable at a healthy level, and we continued to meet the needs of our diverse customer base.”

Kieran Hegarty, President Terex MP commented: “We had an excellent quarter, thanks to strong global sales and execution across our businesses. Our global team is committed to meeting the needs of our customers, and that manifests in our consistently strong operating results. We continue to invest in product and service innovation and geographic expansion that will enable us to serve more customers globally.”

Hegarty continued: “For example, we recently hosted Digital Dealer Forums in Chicago and Ireland that showcased our Powerscreen Pulse and OMNI by Terex digital solutions. Our manufacturing capacity investments in Northern Ireland and India remain on track. These facilities will enable even more growth in our Environmental product lines and further expansion in the growing Indian and broader Asian markets. I am excited about the prospects for the future across our MP businesses.”

Read the article online at: https://www.drybulkmagazine.com/material-handling/30072019/terex-materials-processing-reports-2q19-results/