Following the release of Terex Corp.’s 1Q19 results, Terex Materials Processing (MP) has shared its results, along with its segment-specific results.
Terex Corp. announced net sales for 1Q19 of US$1.1 billion, which is up 2% compared to 1Q18. Backlog also increased by 2% compared to a strong 1Q18, to US$1.7 billion, with global markets for all product categories generally stable at healthy levels.
Terex MP announced that it had an excellent quarter, with sales of US$346 million. This is an increase of 10% compared to 1Q18, driven by continued strong global demand for crushing and screening products, material handlers, and pick and carry equipment. MP’s backlog also continued to grow, up 11% compared to 1Q18, to US$499 million. The company has stated that it is well positioned across its portfolio of business to deliver excellent results in 2019.
“Overall, we had a strong first quarter,” said John L. Garrison, Chairman and CEO of Terex. “We continue to invest in our Execute to Win business system, which remains focused on enhancing our capabilities in commercial excellence, lifecycle solutions, and strategic sourcing, and we are seeing benefits from each of these areas in how we are executing for our customers, as well as our financial performance.”
“We had a great start to 2019 thanks to strong global demand driven by construction activity, aggregate consumption, and robust demand for scrap steel,” said Kieran Hegarty, President of Terex MP. “We expect strong results to continue, fueled by innovations that will excite our existing customers, and geographic expansion that will enable us to serve more customers globally. For example, at bauma, MP showcased its ‘OMNI by Terex’ tablet-based control system that uses I-O-T technology to revolutionise the crushing and screening jobsite. This will improve safety and productivity, and further differentiate our MP product lines. Geographically, we are seeing increasing demand for our products in regions such as India – so we are expanding our Hosur facility to better serve customers throughout the region.”
Read the article online at: https://www.worldcement.com/the-americas/01052019/terex-materials-processing-shares-1q19-results/