First publishedon www.AggBusiness.com
Terex MP president Kieran Hegarty at the recent Digital Dealer Forum
Terex Materials Processing (MP) posted sales of US$365m in the second quarter, an increase of 9% on Q2 2018, or 13% excluding the impact foreign exchange rates.
The Northern Ireland-based materials processing segment of Terex Corporation says the increase was driven by global demand for its wide range of products and services which includes crushing and screening products, material handlers, cement mixer trucks, and pick and carry equipment. Terex MP adds that its backlog of US$364m positions the business well heading into the second half of 2019.
“We had an excellent quarter, thanks to strong global sales and execution across our businesses," said Terex MP president Kieran Hegarty. "We continue to invest in product and service innovation and geographic expansion that will enable us to serve more customers globally.
“For example, we recently hosted Digital Dealer Forums in Chicago and Ireland that showcased our Powerscreen Pulse and OMNI by Terex digital solutions."
He added that Terex MP's manufacturing capacity investments in Northern Ireland and India remain on track, and that these facilities would enable further growth in its environmental product lines and further expansion in the growing Indian and broader Asian markets.
The Terex MP business includes the Powerscreen, Terex Minerals Processing Systems, Terex Finlay, EvoQuip, Terex Washing Systems, Fuchs, CBI, Terex Ecotec, and Terex Concrete Products brands.
Parent company Terex Corporation has announced Q2 2019 net sales of US$1.3bn, up 4% on the second quarter of 2018. On an FX-neutral basis, global sales increased 8% compared to the second quarter of 2018.
“Terex continued to grow in the second quarter,” said John Garrison, Terex chairman and CEO. “Global demand for our leading products and services remained generally stable at a healthy level, and we continued to meet the needs of our diverse customer base.”