Terex Corporation is an American company and worldwide manufacturer of materials processing machinery, waste and recycling equipment, mobile elevating work platforms, and equipment for the electric utility industry. Terex does business in the Americas, Europe, Australia and Asia Pacific.

Corporate history

The origins of Terex date to 1933, when the Euclid Company was founded by George A. Armington to build hauling dump trucks. In 1953, General Motors purchased Euclid, expanding the business to include more than half of all U.S. off-highway dump truck sales. Due to a 1968 Justice Department ruling, GM was required to stop manufacturing and selling off-highway trucks in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

for four years and divest the

Euclid Euclid (; ; BC) was an ancient Greek mathematician active as a geometer and logician. Considered the "father of geometry", he is chiefly known for the '' Elements'' treatise, which established the foundations of geometry that largely domina ...

brand. GM coined the "Terex" name in 1968 from the Latin words "terra" (earth) and "rex" (king) for its construction equipment products and trucks not covered by the ruling. General Motors sold the Terex division to German firm IBH Holding AG led by Horst-Dieter Esch de in 1980. After IBH Holding AG declared

bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...

in 1983, ownership of Terex returned to General Motors and was organized as Terex Equipment Limited (Scotland), Terex do Brasil Limitada (Belo Horizonte, Brazil), and Terex USA (Hudson, Ohio). American entrepreneur Randolph W. Lenz purchased Terex USA from GM in 1986, then exercised an option to purchase Terex Equipment Limited in 1987. In 1988, Lenz merged his primary construction equipment asset, Northwest Engineering Company, into Terex Corporation, making Terex the parent entity. Terex Corporation was incorporated in Delaware in 1986 and listed on the New York Stock Exchange in 1991. As a publicly traded company, Terex grew from acquisitions under the leadership of Ron DeFeo, who became president in 1993 and CEO in 1995. In 1997, Terex acquired mining business from O&K, including the world's largest hydraulic excavator RH 400, later produced as Cat 6090. In 2010 Terex sold its mining business to Bucyrus. In December 2013,

Volvo Construction Equipment Volvo Construction Equipment - Volvo CE - (originally Munktells, Bolinder-Munktell, Volvo BM) is a major international company which develops, manufactures, and markets equipment for construction and related industries. It is a subsidiary and bu ...

(VCE) acquired the Terex line of heavy haul trucks. In September 2021 VCE rebranded the business Rokbak. In 2015, John L. Garrison, Jr., succeeded Ron DeFeo as President and CEO and further transformed the business through acquisitions, new-business launches, and divestitures. In January 2024, Terex named Simon A. Meester, formerly President of Genie and the company's Aerial Work Platforms business segment, as Terex President and Chief Executive Officer.

Products

Per a Company SEC filing on May 2, 2025, effective in the first quarter of 2025 Terex reported its business in three reportable segments: (1) Materials Processing ("MP"), (2) Aerials, and (3) Environmental Solutions ("ES"): MP manufactures crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and pavers, and conveyors. Customers use these products in construction, infrastructure and recycling projects, quarrying and mining, landscaping and biomass production, material handling, maintenance, moving materials on rugged terrain, lifting construction material, and placing material at point of use. MP brands include Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, MARCO, Green-Tec, Magna, and Terex Recycling Systems. Aerials manufactures mobile elevating work platforms (MEWPS) and telehandlers. Customers use these products to construct and maintain industrial, commercial, institutional and residential facilities, for purposes within the entertainment industry, and infrastructure projects. Aerials markets principally under the Genie brand. ES manufactures waste, recycling, and utility equipment including refuse collection bodies, hydraulic cart lifters, automated carry cans, compaction, balers, recycling equipment, digger derricks, insulated aerial devices, self-propelled articulating insulated booms, cameras with integrated smart technology, and waste hauler software solutions. Customers use these products in the solid waste and recycling industry, and for construction and maintenance of transmission and distribution lines, tree trimming, and foundation drilling applications. ES brands include Heil, Marathon, Curotto-Can, Bayne Thinline, Parts Central, digital solutions 3rd Eye and Soft-Pak, and Terex Utilities. Terex 6300AC

Acquisitions and divestitures

On October 8, 2024, Terex completed the acquisition of the Environmental Solutions Group (ESG) from Dover Corporation for $2 billion. ESG is an integrated equipment manufacturer serving the solid waste and recycling industries. As of December 2024, Terex marketed under more than 30 customer-facing brands. Terex was built through a series of acquisitions, internal start-ups, and divestitures over the years. These and other actions helped to shape the current business portfolio: Acquisitions 1999 – Powerscreen, Finlay, Simplicity, Franna 2001 – Canica, Jaques, Bid-Well, CMI Roadbuilding 2002 – Genie, Fuchs, Advance Mixer 2015 – CBI, Ecotec 2020-2023 – MDS, Steelweld, ZenRobotics, ProAll, MARCO 2024 – Environmental Solutions Group (ESG) Divestitures 2010 – Mining Segment 2013 – Roadbuilding / Heavy hauling businesses 2017 – MHPS port handling business; construction business 2019 – Demag cranes business

Criticism

In 1992 American businessman Richard Carl Fuisz reported to the Operations Subcommittee of the House Committee on Agriculture that he witnessed the construction of military vehicles at a Terex owned facility in Scotland in 1987. Fuisz alleged that Terex employees reported that the vehicles were manufactured at the request of the CIA and British Intelligence and were destined for service within the Iraqi military. Terex denied the allegations and, in 1992, filed a

libel Defamation is a communication that injures a third party's reputation and causes a legally redressable injury. The precise legal definition of defamation varies from country to country. It is not necessarily restricted to making assertions ...

complaint against Fuisz and Seymour M. Hersh, writer of an article in ''

The New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...

'' covering Fuisz's allegations. After several investigations, including a 16-month-long federal task force investigation, no legal charges were filed against Terex. ''The New York Times'', in an editor's note on 7 December 1995, said, "The article should never have suggested that Terex has ever supplied Scud missile launchers to Iraq, and The Times regrets any damage that may have resulted to Terex from any false impression the article may have caused."

References

External links

Terex Collection
Hudson Library & Historical Society {{Authority control Companies based in Norwalk, Connecticut Companies listed on the New York Stock Exchange Construction equipment manufacturers of the United States Former General Motors subsidiaries Manufacturing companies based in Connecticut Manufacturing companies established in 1933 1933 establishments in Connecticut Mining equipment companies Companies in the S&P 400