RER Magazine

SUBSCRIBE NOW!

Newsletters

SUBSCRIBE NOW!

 

Blog

Newsletters

Stay up-to-date on the latest marketing intelligence and opportunities.

RER Reports RER ProductWire
Subscribe

Issue Archive

Event Calendar

The Rental Show– New Orleans, LA
February 6-8, 2012

» More events and information

Social Media

More ways to stay informed...

  

follow us on twitter

Find us on Facebook


Terex Continues Major Restructuring

WESTPORT. Conn. — Terex will close seven more plants and cut an additional 725 jobs in a continuing effort at consolidating production to boost efficiency. Combined with other recently announced cuts, the company is closing 11 facilities and cutting 1,225 jobs, about 16 percent of its work force.

Terex said the newest cuts will affect its Terex Lifting U.K. operations in Tetbury, England; Terex Aerials in Cork, Ireland; and Benford Ltd. in Warwick, England. Terex plans to consolidate four U.S. facilities — Terex Lifting in Conway, S.C.; Royer Industries and Re-Tech, Lebanon, Pa., Standard Havens, Glasgow, Mo.; and Canica-Jaques, Vancouver, Wash.

“Given the number of acquisitions we have made over the past few years and the current market conditions, it makes sense for us to step back and adjust our structure,” said Terex CEO Ron DeFeo.

The Westport, Conn.-based manufacturer produces earthmoving equipment, cranes, boom trucks, floodlighting, trowels, traffic control systems and other products.

Terex said it would take a charge of $30 million to $35 million for the steps. It expects to save about $40 million annually as a result of the restructuring.

Want to use this article? Click here for options!
© 2012 Penton Media Inc.


Acceptable Use Policy
blog comments powered by Disqus

most recent story

popular articles

Popular Articles

Recent Comments

Stock Block

Buyers Guide

Buyers Guide

The RER Industry Directory is the resource buyers like yourself rely on when looking for up-to-date information on the products or services you are searching for.

Learn More
Sourcebook

Rental Rate Guide

Rental Rate Guide 2012

Want to know how much equipment is renting for these days? Find out in RER's original 2012 Rental Equipment Rate Guide.

Learn MoreAdd to Shopping Cart
Sourcebook