02.09.2002

DeFeo's Kingdom

Where will Genie sit under the Terex crown? Not with the cranes, that much is clear says Ron DeFeo, president of Terex Corporation in an exclusive interview in this month's issue of "Cranes & Access". Instead, a new division is to be created with Bob Wilkerson, current president of Genie, reporting directly to DeFeo. This is in marked contrast to Terex’s previous foray into the powered access market when cranes and platforms were grouped under Fil Filipov in Terex Lifting. DeFeo says of that time: “We were growing and taking AWP market share but our principal competitors acted to defend themselves, sometimes in ways that bordered on the irrational – as a result we partially withdrew”.

Since then “saner minds have prevailed and much of the manufacturing capacity has exited the market” says DeFeo. He adds that while other companies were focussed entirely on growth at that time he was a “lone voice in the wilderness” who spoke to nearly everyone about forthcoming consolidation – “now many of those companies have gone and the market is more straightforward”.

Turning to some of the detail, DeFeo confirms that Terex will keep the Genie name, colours and basic marketing strategy – “Customers can expect continued terrific service, support and product”. The only difference he expects is that they may find “the potential of a much broader rental product line being sold in combination with Genie”.

One Genie customer that could conceivably have a problem with the company’s new owner is the Cat Rental Store chain. However DeFeo says merely: “We plan to offer all customers, including Cat dealers, the best value AWPs in the world and we feel that we can earn the right for those dealers to sell Genie product”.

He adds that Terex is not in the distribution business and will not be opening its own range of shops.

* The above is part of an interview that appears in the September/October issue of "Cranes & Access". The full text, including DeFeo's comments on Genie and the European access market can be found in the printed magazine or online.