28.10.2004

Terex Crane announce price increases

The Crane division of Terex, which includes Terex Demag, has announced a four to six percent price increase effective November first. The company is also implementing additional surcharges on certain components such as unusual and extra counterweight configurations,

Steve Filipov, President of Terex Cranes said our near term challenge is to work through supplier issues, most notably with respect to steel and tires. In order to offset the pressure from vendor pricing, we will be initiating a 4% to
6% price increase (depending on make and model) effective November 1 for all product lines worldwide in order to offset these costs. In addition, we will be adding a surcharge for certain components such as unusual counterweights, where we have seen a 50% or more increase in prices from our vendors. We will continue to focus on cost containment and are positioning our franchise to be a major participant in the future crane market recovery..