Terex MP sales up 25% in Q1 2018
May 4, 2018 - Following Terex Corporation’s release of its first quarter 2018 results, Terex Materials Processing (MP) is pleased to share these, along with its segment-specific results.
Terex Corporation reported a strong start to 2018 with first quarter 2018 sales of $1.3 billion, up 25% versus Q1 of 2017. The growth reflects the improvements made to the company’s operations and broad-based growth across its global markets.
The Materials Processing business segment was a strong contributor to the overall company results with sales of $303 million that were 22% higher than last year. The growth was driven by solid global demand for crushing and screening products, Fuchs material handers and environmental equipment. Backlog for the business segment at the end of Q1 was $428 million, up 77% versus last year, indicating positive momentum for the remainder of the year.
“Overall, we had a strong start to the year. Our backlog is up significantly in every segment and our global markets are improving” remarked John Garrison, Terex president and CEO. “We will continue to execute our Transformation program by simplifying the company and building capabilities designed to enable us to serve our customers better and faster than the competition.”
“We expect global demand for crushing and screening equipment to continue to grow, primarily driven by construction activity and aggregate consumption,” said Kieran Hegarty, president of Terex MP.” Our Fuchs material handlers and broad line of environmental products are also continuing to grow in improving global markets. We’re investing in new products and strengthening our distribution channels to meet the strong demand and help our customers to succeed.”
For more information on Terex Corporation’s first quarter 2018 results, visit:
For more information about Terex MP products and services, visit:
Forward Looking Statements:
This press release contains forward-looking information regarding future events or Terex’s future financial performance based on the current expectations of Terex. Terex has based these forward-looking statements on current expectations and projections about future events. These statements are not guarantees of future performance. Actual events or the actual future results of Terex may differ materially from any forward-looking statement due to these and other risks, uncertainties and significant factors. The forward-looking statements speak only as of the date of this release. Terex expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement included in this release to reflect any changes in expectations with regard thereto or any changes in events, conditions, or circumstances on which any such statement is based.
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