Terex reduces revenues forecast by 3%
By Murray Pollok08 September 2008
Ron DeFeo, Terex chairman and chief executive officer, said; "While our Cranes and Materials Processing & Mining segments continue to perform better than our expectations, continued market softening and input costs in the Aerial Work Platforms and Construction segments in Western Europe and the United States are expected to more than offset those positive factors".
Rising input costs have forced Terex's aerial work platform division to institute an average 7.5% price increase on its products on 1 September. A lower increase was also imposed at the start of the year.