Terex Materials Processing (Terex MP) had another impressive quarter in Q3 2019 with sales of €305.42mn (US$339mn) - an increase of 8% on the same period of last year.
A Terex Corporation business segment that includes the brands Terex Finlay, Powerscreen, Terex MPS, EvoQuip, Terex Washing Systems, Terex Ecotec, Fuchs, CBI, Terex Bid-Well, Terex Advance and Franna Pick & Carry Cranes, Terex MP’s trading growth was said to be driven by global demand for its broad range of products and services. These include crushing and screening machines, material handlers, cement mixer trucks, and pick and carry equipment. Global Terex MP backlog in Q3 2019 totalled €237.84mn ($264mn) and bookings in the quarter were €212.62mn ($236mn).
Kieran Hegarty, president of Terex MP, said: “We had an excellent quarter in Materials Processing, thanks to strong operational execution across our businesses. Looking ahead, our bookings and backlog levels are pointing to softening demand in our global end markets. Throughout the cycle, we will continue to invest in product and service innovation and geographic expansion that will enable us to serve more customers globally.”
Hegarty added that Terex MP’s manufacturing capacity investments in Northern Ireland and India “remain on track”. He continued: “These facilities will enable even more growth in the expanding Environmental sector and position us to continue to grow in India and the broader Asian markets as customers adopt our mobile processing technology. I am encouraged by our consistently strong execution and long-term prospects for growth across our MP businesses.”
Terex Corporation as a whole posted sales of €900.94mn $1bn for the quarter, down 6.8% compared to the third quarter of 2018.
This article first appeared on our sister title Aggregates Business.
