15.05.2007

Terex in top 4

Terex has achieved fourth place in the 2007 Barron’s 500 survey which ranks U.S. and Canadian Standard and Poor's 500 Index companies on cash-flow, returns on investment, sales growth and stock price performance over a three year period.

The data is analysed for Barron's by the Holt Division of Credit Suisse.

Ron DeFeo, CEO and chairman of Terex said "All of us at Terex are honored to receive this recognition because it reflects the many years of dedicated work by our team members worldwide as well as the confidence shown in us by our customers and our investors,”

"While we have grown into one of the world's preeminent construction, mining and infrastructure equipment manufacturers, we continue to view Terex as a young company with significantly more potential in front of us than past successes behind us.

"We have successfully taken disparate product lines and weaved them into a well-rounded product portfolio. There is, however, more work to be done in this process and, as we have said before, the best is yet to come. We are pleased to be considered one of the top five performers along with Goldman Sachs Group, Franklin Resources, Apple and Paccar," DeFeo concluded.

Vertikal Comment

This is quite an achievement, among the three companies that beat Terex were Goldman Sachs and Apple Computer, the first equipment company is Caterpillar at 80, although Cummins engine came in at 32.

Ingersol Rand, owner of Bobcat was 181st

Terex has come a long way from the highly indebted 'has been' manufacturers that it was 10 years ago.

The turning point was of course the acquisitions of Demag Cranes and Genie aerial lifts, although the foundations had been set well prior to those purchases.