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19 April 2012

Think global act local: Terex expands global operations

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Terex chairman and CEO, Ron DeFoe
Terex chairman and CEO, Ron DeFoe
Terex boss Ron DeFoe has spoken about the company’s expanded global strategy and confirmed his thoughts about the threat represented by Chinese manufacturers.

“This year has started well for the Terex organisation and we are confident that our markets are moving into an extended cycle of economic growth right around the globe. As a result we are forecasting a significant growth in sales from US$6.5 billion (2011) to US$8.5 billion,” he said.

Speaking at INTERMAT, the chairman and CEO continued, “This growth reflects the successful integration of the Demag Crane AG business following its purchase in August 2011 and we continue to develop our global strategy by forming joint ventures with manufacturers in emerging markets, such as Russia, India and the South Americas.”

He continued by questioning the ambitions of Chinese manufacturers saying that low price didn’t equate to low cost and asking what price was put on safety, productivity or efficiency?

“I think there are too many Chinese manufacturers for them to become global players and I can see this playing out in the longer term. It’s not going to be easy for China to sell into Europe, it takes hard work to build a global organisation and I welcome hard work, but as far as Terex is concerned easy access will be denied.”

Outside: E5 Stand: C002