Latest news from Heavy Lift & Project Forwarding International Magazine

Challenging market harms Terex

February 23 - Terex has recorded an income from continuing operations of USD142.5 million in 2015, compared with USD259 million in 2014.

"The macro operating environment in the fourth quarter of 2015 was challenging," said Terex president and ceo, John L. Garrison.

"Global economic volatility has made our customers more cautious overall, resulting in fourth quarter order activity that was below expectations in most business segments and product categories.

"On a positive note, free cash flow for the year came in at a strong USD290 million, nearly double our 2015 net income. Cash flow generation will be a primary focus going forward."

Garrison noted that he does not foresee market conditions improving in 2016.

"We anticipate lower fleet replacement from North American aerial work platform (AWP) rental customers. The oil and gas and commodity market decline will continue to impact demand across many of our products. We are developing and implementing plans to align our cost structure with these market realities."

HLPFI reported yesterday, February 22, that Terex and Konecranes had paused the integration planning activities for their intended merger, in light of the challenging business environment.

 

www.terex.com

Heavy Lift | News

MACS appoints UAL America as agent thumbnail image

MACS appoints UAL America as agent

April 23 - MACS Maritime Carrier Shipping has appointed Universal Africa Lines, America (UAL America) as its sales agent in Texas, effective June 1, 2019.
Views: 245
EU recognises Scheuerle and Kamag thumbnail image

EU recognises Scheuerle and Kamag

April 23 - The EU Commissioner for budget and human resources, Günther Oettinger, congratulated TII Group for a combined 200 years of innovation and competence at its subsidiaries, Scheuerle and Kamag.
Views: 245
Ceva launches BRI block train thumbnail image

Ceva launches BRI block train

April 22 - Ceva Logistics North Asia has launched a block train service from China to Europe as the company looks to tap into the potential of the Belt and Road Initiative (BRI).
Views: 385
Crowley promotes Sandra Goranovic thumbnail image

Crowley promotes Sandra Goranovic

April 22 - Crowley Maritime has appointed Sandra Goranovic as vice president of finance and accounting for the Crowley Shipping business unit.
Views: 396

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