Terex Materials Processing (MP) sales for the third quarter of 2018 rose by 14% year on year to US$295 million, more than contributing to an overall Terex Corporation growth of 11%.
Terex said the results were driven by continued implementation of the company’s Execute to Win business strategy and its focus on meeting the growing needs of customers during a period of broad-based growth.
The growth of the Materials Processing business – which includes brands such as Evoquip, Fuchs, Powerscreen and Terex Washing Systems – resulted from global demand for crushing and screening products, material handlers and a broad range of environmental equipment.
“We continue to see strong global demand for our products,” said Terex chairman and CEO John Garrison.
“We increased sales, bookings, and backlog in the quarter and we are seeing benefits from our Commercial Excellence initiative positively impact customer experiences and our market performance.”
Kieran Hegarty, president of Terex MP, commented: “Materials Processing is a high- performing segment that consistently meets the needs of its global customers.
“We see the benefits in our increased sales, bookings and backlog. With 72% higher backlog, we look forward to a strong fourth quarter and expect to hit the ground running in 2019.”