Terex cranes to become part of Materials Processing division
Terex has announced the merger of its Tower and Rough Terrain crane operations into its Materials Processing operations.
Going forward Marco Gentilini, general manager of the Italian based cranes businesses, in Fontanafredda and Crespellano, will now report to Kieran Hegarty, the president of Materials Processing.
Since August, when the Demag crane business was sold to Tadano, the residual crane business has been in ‘Other’ revenues.
The move brings Terex down to a two division company – Genie aerial work platforms and telehandlers and the Material Processing business – largely Powerscreen. The merger also brings the Franna crane business back with the rest of the crane operations.
Chief executive John Garrison said: “Consistent with our Focus, Simplify, and Execute to Win strategy, all of our businesses are now aligned with the potential for long term profitable growth. These crane businesses will be an excellent fit within the diverse MP portfolio of equipment businesses.”
Hegarty added: “Like our other MP businesses, Tower and Rough Terrain cranes utilise distinct channels in their markets and will be a great addition to our portfolio. We plan to support their continued growth with investment in new products and global sales and marketing.”
It is hard to understand how cranes are an ‘excellent fit’ with screening and crushing equipment, but it is almost certainly a better home than being lost in ‘Other’. The Terex Rough Terrain and Tower crane products have some unique features and a good name, not to mention real upward potential and, along with Franna, make up a decent crane business. One has to wonder if Terex might just be better off selling the Cranes business to a third party in order to truly focus on two distinct world class divisions?