Latest news from Heavy Lift & Project Forwarding International Magazine

Terex suffers in challenging market

November 2 - Terex Corporation posted income from continuing operations of USD33.3 million in the third quarter of 2016, compared with USD30.3 million in the same period of 2015.

"Our aerial work platforms (AWP) and materials processing (MP) segments performed in line with expectations, while our cranes segment performance was negatively impacted by more challenging markets than we anticipated and operational factors," said John L. Garrison, president and ceo of Terex.

Garrsion said that the global capital equipment market remains challenging: "The market for mobile cranes weakened further than planned in the third quarter, with the primary driver being the retrenchment in the oil and gas sector in North America and legislative changes to subsidies in the German wind energy industry."

He added that Terex is taking actions to improve its cranes business, having appointed Steve Filipov to replace Ken Lousberg as president of Terex Cranes in October (http://www.heavyliftpfi.com/news/change-at-the-top-for-terex.html).

"We are reviewing all aspects of our cost structure and have been taking actions throughout the entire company to reduce costs. These savings were critical to at least partially offsetting challenging conditions in our markets," he stated.

Garrison explained that Terex is progressing with the planned completion of its material handling and port solutions (MHPS) business to Konecranes in early 2017.

www.terex.com

 

 

Heavy Lift | News

Martin Bencher opens in Istanbul thumbnail image

Martin Bencher opens in Istanbul

December 6 - Denmark-headquartered project logistics specialist Martin Bencher is opening an office in Istanbul, Turkey. 
Views: 473
CS Wind places Kalmar order  thumbnail image

CS Wind places Kalmar order 

December 6 - Kalmar will supply CS Wind Vietnam with two Super Gloria reachstackers, each with a lifting capacity of 100 tons (90.7 tonnes). 
Views: 393
Sobering picture from DHL’s GTB thumbnail image

Sobering picture from DHL’s GTB

December 6 - The DHL Global Trade Barometer (GTB) indicates that world trade will contract over the next three months.
Views: 465

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.