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Terex income down in 'challenging' market

October 22 - Terex Corporation posted an income from continuing operations of USD44.8 million for the third quarter of 2015, compared with USD58.7 million in the same period of 2014.

Terex's income from continuing operations as adjusted was USD63.4 million in the reporting period, compared with USD67.8 million in the third quarter of 2014. The company also posted net sales of USD1.64 billion - a 9.3 percent year-on-year decrease.

"Our marketplace remains challenging," said Ron DeFeo, current Terex chairman and ceo. "The cranes and construction businesses continue to experience relatively soft market conditions overall, with customers remaining cautious with their equipment purchasing patterns."

DeFeo added: "As mentioned last quarter, we are seeing pricing pressure in the marketplace, which to date we have been able to mostly offset by reductions in material input costs.

"We also continue to make progress towards the completion of the merger with Konecranes, which when combined with the improvements already underway creates a compelling financial improvement story in an otherwise flat market.

"Given where we are in the year and the challenging environment we are operating in, we believe we will be at or near the low end of our previously announced earnings guidance for the full year 2015."

www.terex.com

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