Crane sales down at Terex

Sales at Terex Cranes in 2013 were down on the previous year. For the crane segment sales were US$ 1.93 billion, down 3 % from $1.99 billion in 2012. It was a similar story in the final quarter where net sales were $480 million, down 6 % compared with $511 million in Q4 2012.

“Our Cranes segment failed to realise the growth that we had anticipated entering 2013. While new product launches did provide some growth, markets such as Australia, Europe and Latin America were more challenging than anticipated,” commented Ron DeFeo, Terex Chairman and CEO.

In the Materials Handling and Port Solutions segment things were brighter in the last quarter of 2013 where net sales were up 27 % from $416 to $529 million. That last quarter rise failed to lift the year overall, however, where MHPS segment net sales at $1.74 billion in 2012 were almost the same, at $1.70 billion, in 2013. “We have made good progress with the integration of our MHPS segment and we expect continued progress in 2014,” DeFeo said.

“Overall, 2013 was a good year and I am pleased with the improvements and progress underway at Terex,” commented DeFeo on the performance of Terex Corporation as a whole. “This past year was a tale of two halves, with the second half of the year significantly stronger than the first half. Our performance in the second half was fuelled by the continued strength of our Aerial Work Platforms (AWP) segment and a turnaround in our Materials Handling & Port Solutions (MHPS) segment. Our focus throughout the year on strengthening margins and driving financial efficiency helped deliver a strong close to the year.”

In outlook for 2014 DeFeo commented, “We see some signs of improvement in many parts of the world although this is tempered with some continued market uncertainty, particularly in developing markets. Overall, we believe that the global economy will be stronger in 2014, but still modest when viewed against historic demand levels.”