Sales up 17% at Terex Materials Processing
Terex MP segment delivers strong performance across its portfolio of businesses in 2018
FOLLOWING the release of Terex Corporation’s full-year results for 2018, Terex Materials Processing (MP) have announced their segment-specific results.
For the year ended 31 December 2018, Terex Corporation reported net sales of US$5.1 billion, an increase of 18% compared with net sales of US$4.4 billion for the full year 2017.
The Terex MP segment delivered a strong performance across its portfolio of businesses with full-year 2018 net sales of US$1.3 billion, an increase of 17% over the previous year.
With growth driven by global demand for crushing and screening products, material handlers, and environmental equipment, Terex MP say the segment has entered 2019 with a backlog of US$490 million, 54% greater than 2018.
Commenting on the segment results, Kieran Hegarty (pictured), president of Terex MP, commented: ‘We’re well positioned to support the strong global demand we see from our customers heading into 2019 and to expand our penetration into emerging markets.
‘New product development will continue to differentiate our MP businesses – with new crushing and screening products being launched this year and new Fuchs material handlers that are designed to serve new markets including timber yards, ports and waste processing.
‘To support our growth, we will execute our manufacturing strategy which includes expanding capacity in the UK, India and China, and utilizing the Oklahoma City facility in the North America.’