Terex last week announced that Lowell Stout is retiring after a 45-year career in the construction industry.
“During his tenure with Terex, Lowell has played a significant role in the success of our construction organization in North America,” said George Ellis, president, Terex Construction. “He has offered invaluable industry knowledge and experience throughout his career with us, and he will be greatly missed. We wish him the best in his retirement.”
Stout is retiring from Terex as a senior product manager with the Terex Construction Americas business segment, based in Southaven, Miss. Stout was instrumental in the development of the Terex “B” series tractor loader backhoes and has been actively working on upcoming 2010 product launches.
Having been associated with tractor loader backhoes most of his career, Stout has seen many changes to the product. It has evolved from a farm tractor with an installed front end loader and a backhoe tied into the loader frame to a fully integrated machine with engine power approaching 130 hp. Early backhoes had two seats, one for the loader/driving position and one to operate the backhoe. The scope of changes over the years include 4WD, enclosed cabs, air conditioning, extendable dippersticks and hundreds of other attachments and options available. “Today’s machines are so much more productive and comfortable to operate,” said Stout. “It’s difficult to imagine what the next 50 years has in store for this industry. If it’s like the last 50 years, it will be more evolutionary than revolutionary.”
Stout’s career began in 1965 as a dealer training supervisor with Massey Ferguson in Indianapolis. By 1975, he was the North American general sales manager, and in 1983 became president of Massey Ferguson Industrial Machinery Ltd, located in Atlanta. With a staff of 18, he managed the $35 million+ North American portion of the business, which included 75 distributors. In addition, he was responsible for coordinating sales in the Caribbean, Central America and most of South America. In October 1992, MF Industrial was sold in a UK-management buy-out to Fermec Holdings Limited. In October 1996, Fermec was acquired by Case Corp. As a condition of the merger of Case and New Holland, Fermec was divested and sold to Terex in January 2001.
Terex Corp. is a diversified global manufacturer operating in four business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes and Terex Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, energy, refining and utility industries.