The materials processing division of Terex Corporation posted second quarter 2018 sales of US$319million, an increase of 14% on Q2 last year.
Terex said the growth was driven by consistent execution and the increasing global demand for materials processing products generated by broad-based economic growth and construction activity. Backlog for the segment at the end of Q2 was US$393mn, up 75% versus last year.
It added that the materials processing business segment was a strong contributor to overall company results in Q2.
Kieran Hegarty, president
"At the Hillhead show in June, we showcased products from our entire line of crushing, screening, washing and conveying equipment including 10 new machines. We also featured our innovative telematics offerings that help customers maximise uptime, and help us and our channel partners increase parts and service availability. These new products will help solidify our position as a leader in the industry.”
Terex Corporation is a manufacturer of lifting and material processing products and services, whose customers include the quarrying and mining industries. It operates in three business segments - materials processing, aerial work platforms and cranes.
Overall Terex Corporation sales for the second quarter totalled US$1.4billion, up 19% on Q2 2017. Sales and backlog increased in all three business segments in Q2. The company said the results were driven by continued implementation of its 'Execute to Win' business strategy and its focus on meeting the growing needs of customers during a period of broad-based growth.
John Garrison, Terex president and CEO, said the company's overall results in Q2 were "very strong" and positioned it well going into the second half of the year.
