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

Rotterdam moves ahead with rail link thumbnail image

Rotterdam moves ahead with rail link

June 2 - A steel arch bridge has been installed across the Thomassentunnel and the A15 and N15 motorways in the Netherlands, forming a key link in the port of Rotterdam’s proposed Theemswegtracé railway line.
Views: 186
Mediaco acquires Chieusse Levage thumbnail image

Mediaco acquires Chieusse Levage

June 1 - French crane rental company Mediaco has acquired Chieusse Levage, which operates in the south of the country.
Views: 360
Zelaya joins UTC thumbnail image

Zelaya joins UTC

June 1 - Global freight forwarder and specialised transportation provider UTC Overseas has appointed Jo Ann Zelaya as director, rail, rigging and heavy haul.
Views: 331
Airpes expands North American team thumbnail image

Airpes expands North American team

June 1 - Airpes – a manufacturer of lifting, weighing and below-the-hook equipment – has expanded its North American network with the appointment of three sales representatives.
Views: 325

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