Terex MP in positive first quarter

Terex Materials Processing (Terex MP) has announced first quarter sales of US$346 million for 2019, a 10% increase on the same period a year ago.

According to the company this success was a result of continued demand for crushing and screening products, material handlers and pick and carry equipment.

Terex MP’s president, Kieran Hegarty, said construction activity, aggregate consumption and the need for scrap steel drove demand.

The company’s backlog figures also saw an increase of 11% on the previous year to $499 million.

Kieran added: “We expect strong results to continue, fuelled by innovations that will excite our existing customers and geographic expansion that will enable us to serve more customers globally.

“For example, at Bauma we showcased our ’Omni by Terex’ tablet-based control system that uses IOT (Internet of Things) technology to revolutionise the crushing and screening job site. This will improve safety and productivity and further differentiate our MP product lines. Geographically, we’re seeing increasing demand for our products in regions such as India – so we are expanding our Hosur [near Bangalore] facility to better serve customers throughout the region.”

Terex MP said its businesses were well positioned to deliver excellent 2019 results, while Terex Corporation announced a net sales increase of 2% overall on its 2018 first quarter.

John Garrison, Terex chairman and CEO, said: “We continue to invest in our Execute to Win business system, which remains focused on enhancing our capabilities in commercial excellence, lifecycle solutions and strategic sourcing and we are seeing benefits from each of these areas in how we are executing for our customers as well as our financial performance.”