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| Type | Public (NYSE: TEX) |
|---|---|
| Founded | 1925 |
| Headquarters | World Headquarters Westport, Connecticut, USA |
| Industry | Construction, Forestry, Government & Military, Mining, Quarry & Aggregates, Recycling and Waste Management, Roads & Bridges, Utility |
| Employees | 20,000 |
| Website | www.Terex.com |
Terex Corporation is a diversified global manufacturer of a broad range of heavy equipment for a variety of industries, including construction, infrastructure, quarrying, recycling, surface mining, shipping, transportation, refining, utility and maintenance. The company's major business segments include aerial work platforms, construction, cranes, materials processing & mining, and roadbuilding and utility products. Terex has more than 18,000 employees known as team members and operates 50 manufacturing facilities in North America, South America, Europe, Asia and Australia. Terex sells its products in more than 170 countries. On March 4, 2008, Terex Corp. announced the complete acquisition of ASV, Inc. (Grand Rapids, Minnesota), which supplements its portfolio esp. with track loaders of the Posi Track range. [1]
Terex Cranes' revenues for the third quarter of the year 2009 came to US$ 455 million, down 38% on the same period last year.[1]
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History
In 1983, Northwest Engineering Company was purchased and that name was kept until 1986, when they adopted the name "Terex". [2] For over 70 years, Northwest Engineering Company had been producing cranes and draglines. [3]
Ohio connection
The Terex of today is made up of more than 50 formerly separate companies but takes its name from what was formerly a division of General Motors that was founded as the General Motors Euclid Division. GM changed the name of the division to "Terex" in 1970 from the Latin terra (earth) and rex (king). The division's original plant was established in Hudson, Ohio (on land then part of Hudson Township) in 1957. A bypass connecting Ohio State Route 303 to Ohio State Route 91 was built and named Terex Road. The plant closed in the late 1980s; part of it is now the headquarters of Jo-Ann Stores.
In the 1970s, Terex produced the world's largest truck, the Terex Titan, which has become iconic. The single prototype produced served until 1990 and is now on display in Sparwood, British Columbia, near the mine it served. It remains the world's largest truck by dimensions, but not by carrying capacity (370 tons). In 2008, Terex introduced a 400-ton mining truck, the MT6300, with 400 tons of hauling capacity.
Plug-in hybrids
DUECO, the largest privately owned final-stage manufacturer[4] of Terex Utilities and Hi-Ranger products in the United States, has purchased Odyne Corporation. DUECO, in conjunction with Odyne, has developed the U.S. first plug-in hybrid system for medium and heavy duty trucks[5][6] [7]
Iraq
Richard Carl Fuisz told the House Agriculture Committee in 1992 that Terex Corporation had built mobile Scud missile launchers for Saddam Hussein with the "CIA's blessing".[8][9] Terex "vigorously denied" the charge and started a libel suit against Fuisz. A 16-month federal investigation concluded that there was "no credible evidence that Terex supplied Scud missile launchers to Iraq" and the New York Times printed a retraction of their Seymour M. Hersh article saying "The Times has no evidence that contradicts the task force's findings."The Sunday Herald in 2005 reported on documents provided by Iraq to the UN naming companies that had provided assistance to Iraq's weapons program. Although the US government attempted to censor the contents, Terex is listed in a table of "UK firms that sold arms to Iraq", arms that involved "rocket" material.[10]
References
- ^ http://www.khl.com/magazines/american-cranes-and-transport/detail/item46569/Cranes-division-props-up-Terex/
- ^ http://www.scripophily.net/norencom1.html
- ^ http://www.nweng.com/
- ^ http://trailer-bodybuilders.com/mag/trucks_back_basics_certification/
- ^ http://www.dueco.com/
- ^ http://www.odyne.com/web_resources/press_release_pdfs/05-30-07-Dueco.pdf
- ^ http://www.calcars.org/calcars-news/1072.html
- ^ Hersh, Seymour (January 26, 1992). "U.S. Linked to Iraqi Scud Launchers". New York Times. http://query.nytimes.com/gst/fullpage.html?res=9E0CEFD71539F935A15752C0A964958260&partner=rssnyt&emc=rss. Retrieved 2009-03-13. "Just after the first wave of Scud attacks on Israel, an American named Richard C. Fuicz began telling United States Government investigators about a visit he made in September 1987 to a truck manufacturing plant owned by the Terex Corporation, a subsidiary of KCS of Westport, Conn."
- ^ "CIA Said to Back Sale". Boston Globe. July 2, 1992. http://nl.newsbank.com/nl-search/we/Archives?p_product=BG&p_theme=bg&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=0EADDFEA0371EB31&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D&s_trackval=GooglePM. Retrieved 2009-03-03. "An American businessman told Congress yesterday that a US heavy equipment firm built mobile Scud missile launchers for Saddam Hussein with the CIA's blessing. Both the CIA and the firm -- the Terex Corp. of Westport, Conn. -- immediately denied the allegation. Dr. Richard C. Fuisz, a physician, inventor and businessman, told a subcommittee of the House Agriculture Committee that he toured a Terex plant in Scotland in September 1987 and was told by Art Rowe, the plant"
- ^ "17 British Firms Armed Saddam with his Weapons". Sunday Herald. February 23, 2003. http://www.commondreams.org/headlines03/0223-07.htm. Retrieved 2009-03-04. "British companies who supplied Iraq with nuclear, biological, chemical, rocket and conventional weapons technology are to be investigated and could face prosecution following a Sunday Herald investigation."
External links
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Wikimedia Commons has media related to: Terex |
Coordinates: 41°12′54″N 81°26′16″W / 41.21488°N 81.43782°W
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