Terex

Terex Corporation

Type| Public

Traded as

* NYSE: TEX
* S&P 400 component

Industry| Manufacturing
Founded| 1933; 93 years ago (1933)
Founder| George Armington
Headquarters| Norwalk, Connecticut, U.S.

Area served

| Worldwide

Key people

| Simon A. Meester
(President & CEO)[1]
Products| Materials Processing, Aerials, Environmental Solutions
Services| Parts and equipment maintenance and repair; equipment financing
Revenue|  US$5.13 billion (2024)

Operating income

|  US$526 million (2024)

Net income

|  US$335 million (2024)
Total assets|  US$5.73 billion (2024)
Total equity|  US$1.83 billion (2024)

Number of employees

| 11,400 (2024)
Website| terex.com
Footnotes / references
[2]

Terex Corporation is an American company[3][4][5] and worldwide manufacturer of materials processing machinery, waste and recycling equipment, mobile elevating work platforms, and equipment for the electric utility industry.[6] Terex does business in the Americas, Europe, Australia and Asia Pacific.[7]

## Contents

* 1 Corporate history
* 2 Products
* 2.1 Military use
* 3 Acquisitions and divestitures
* 3.1 Acquisitions
* 3.2 Divestitures
* 4 References
* 5 External links

## 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 for four years and divest the Euclid 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.

After the German company IBH Holding AG acquired its Terex division in 1980[8] and filed for bankruptcy three years later,[9] GM regained ownership of the brand and reorganized it into units located in Scotland, Brazil, and the USA. American businessman Randolph W. Lenz bought Terex USA in 1986, exercising an option to purchase Terex Equipment Ltd the following year. In 1988, Lenz merged his primary construction equipment asset, Northwest Engineering Company, into Terex Corporation, making Terex the parent entity.[10]

Incorporated in 1986, Terex Corporation was listed on the NYSE five years later,[11] growing under the leadership of Ron DeFeo. In 1997, it acquired mining business from O&K, including the world's largest hydraulic excavator RH 400, later produced as Cat 6090;[12] in 2010, it sold that business to Bucyrus.[13]

Having acquired Terex's line of heavy haul trucks in December 2013, Volvo Construction Equipment (VCE) rebranded the business as Rokbak in September 2021.[10] Succeeding DeFeo as president and CEO of Terex in 2015, John L. Garrison, Jr. further transformed the business through acquisitions, new-business launches, and divestitures.[14]

In January 2024, the firm named Simon Meester, formerly President of Genie and the company's Aerial Work Platforms business segment, as Terex president and CEO.[10] In October 2025, Terex announced that it planned to merge with REV Group, and that it was looking to spin off its Genie line of aerial lifts.[15]

On February 2, 2026, Terex announced that it had completed its merger with REV Group.[16]

## Products

Per a Company SEC filing on May 2, 2025,[6] 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.[17]

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.[6]

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.[18][6]

A worker at a mine in Northern Alberta, Canada stands next to a Terex 6300AC "Heavy Hauler". The 6300AC was one of the biggest dump trucks in the world. c. 2000[19]

### Military use

In 2004, Terex announced its joint venture, American Truck Company (ATC), was awarded a contract with the U.S. Army Tank-armaments and Automotive Command (TACOM) to supply the Ministry of Defense of Israel with 302 medium tactical trucks, as well as associated logistics support.[20] Also in 2004, Terex's ATC was entered into a $5.6 million contract with the U.S. Marine Corps (USMC) to "supply three prototype Logistic Vehicle System Replacement (LVSR) trucks".[21] In 2008, Terex-Demag all-terrain cranes were officially tested by the USMC.[22]

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.[23] Terex denied the allegations and in 1992, filed a libel complaint against Fuisz and Seymour M. Hersh, writer of an article in The New York Times 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."[24]

## Acquisitions and divestitures

Terex Franna (left) and Terex Powerscreen (right) at EXCON 2025, BIEC

On October 8, 2024, Terex completed the acquisition of the Environmental Solutions Group (ESG) from Dover Corporation for $2 billion.[25] 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.[17] 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[26][27][28]
* 2001 – Canica, Jaques,[29] Bid-Well, CMI Roadbuilding[30]
* 2002 – Genie, Fuchs, Advance Mixer[31]
* 2015 – CBI, Ecotec[32]
* 2020-2023 – MDS,[33] Steelweld,[34] ZenRobotics,[35] ProAll,[36] MARCO[37]
* 2024 – Environmental Solutions Group (ESG)
* 2026 – REV Group[38]

### Divestitures

* 2010 – Mining Segment[39]
* 2013 – Roadbuilding / Heavy hauling businesses[40][41][42][43]
* 2017 – MHPS port handling business;[44] construction business
* 2019 – Demag cranes business[45][46]

## References

1. ↑ "Terex Announces Leadership Succession Plan". https://www.sec.gov/Archives/edgar/data/97216/000009721623000193/a10-17x2023exh99_1pressrel.htm.
2. ↑ "Terex Corporation 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 7 February 2025. https://www.sec.gov/ix?doc=/Archives/edgar/data/97216/000009721625000011/tex-20241231.htm.
3. ↑ "Contact Us & Feedback" (in en). https://www.terex.com/en/about/contact-us-feedback.
4. ↑ "Terex Corporation". http://www.hoovers.com/company-information/cs/company-profile.terex_corporation.8c0be26ca809f4a0.html.
5. ↑ "Terex". https://www.linkedin.com/company/terex. [self-published source]
6. ↑ 6.0 6.1 6.2 6.3 Adler, William (May 2, 2025). "SEC 10Q Filing - Terex Q1 2025 earnings / 5-2-25". https://investors.terex.com/financials/sec-filings/sec-filings-details/default.aspx?FilingId=18428719.
7. ↑ "Company 10K filing as published by SEC.Gov". February 2024. https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/97216/000009721624000013/tex-20231231.htm.
8. ↑ "IBH Holding AG, the West German firm which bought..." (in en). https://www.upi.com/Archives/1980/12/19/IBH-Holding-AG-the-West-German-firm-which-bought/1253346050000/.
9. ↑ Greenhouse, Steven (1983-11-08). "Ibh's Terex Takes Chapter 11 Step" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/1983/11/08/business/ibh-s-terex-takes-chapter-11-step.html.
10. ↑ 10.0 10.1 10.2 Terex Company History (March 3, 2024). "Terex Company History - terex.com". https://www.terex.com/docs/librariesprovider3/default-document-library/terex
history-for-terex.com
july-2021.pdf?sfvrsn=12c851c0_9.
11. ↑ Hoist Magazine (2012). "Hoist Magazine History of Terex Corporation, NYSE filing date". https://www.hoistmagazine.com/features/our-story-terex-corporation/.
12. ↑ "Orenstein & Koppel AG: Terex übernimmt O&K Mining=". https://www.ots.at/presseaussendung/OTS_19971215_OTS0130/orenstein-koppel-ag-terex-uebernimmt-ok-mining.
13. ↑ "Terex Completes Sale of Mining Business to Bucyrus". https://investors.terex.com/news/news-details/2010/Terex-Completes-Sale-of-Mining-Business-to-Bucyrus/default.aspx.
14. ↑ Terex Investor Day (December 2022). "Terex Investor Day 2022 - Public Filing". https://s22.q4cdn.com/583752720/files/doc_presentations/2022/12/Terex-Investor-Day-Presentation_Final_12.13.22.pdf.
15. ↑ Waldschmidt, Jordanne (2025-10-30). "Terex to Merge With Rev Group, Exit Genie Aerial Business" (in en-us). https://www.equipmentworld.com/business/mergers-acquisitions/article/15770687/terex-to-merge-with-rev-group-exit-genie-aerial-business.
16. ↑ "Terex and REV Group complete merger, creating a premier specialty equipment manufacturer" (in en). PR Newswire. https://www.prnewswire.com/news-releases/terex-and-rev-group-complete-merger-creating-a-premier-specialty-equipment-manufacturer-302675744.html.
17. ↑ 17.0 17.1 "Terex 10K filing". February 2024. https://s22.q4cdn.com/583752720/files/doc_financials/2022/q4/dc081704-d2c0-431e-bf81-5068d6a13602.pdf. This article incorporates text from a publication now in the public domain:
18. ↑ Adler, William (May 6, 2025). "Environmental Solutions Group". https://www.terexesg.com/.
19. ↑ "10 Largest Dump Trucks on Earth". April 2008. https://www.motortrend.com/reviews/0804dp-10-largest-dump-trucks/.
20. ↑ "Terex Signed Agreement for 302 Trucks". Heavy Duty Trucking. January 8, 2004. https://www.truckinginfo.com/news/terex-signed-agreement-for-302-trucks. Retrieved April 4, 2026.
21. ↑ "Terex Announces That Its American Truck Company Joint Venture Has Been Awarded Phase 1 Marine Corps Truck Contract". Terex. March 25, 2004. https://investors.terex.com/news/news-details/2004/Terex-Announces-That-Its-American-Truck-Company-Joint-Venture-Has-Been-Awarded-Phase-1-Marine-Corps-Truck-Contract/default.aspx. Retrieved April 4, 2026.
22. ↑ "Terex-Demag ATs make Marine Corps debut". Crane & Transport Briefing. April 25, 2008. https://www.cranebriefing.com/news/terex-demag-ats-make-marine-corps-debut/1017782.article?zephr_sso_ott=Qpgi2T. Retrieved April 4, 2026.
23. ↑ Seymour M. Hersh (1992-01-26). "U.S. Linked to Iraqi Scud Launchers". The New York Times. https://www.nytimes.com/1992/01/26/world/us-linked-to-iraqi-scud-launchers.html?partner=rssnyt&emc=rss. "Richard C. Fuicz began telling United States Government investigators about a visit he made in September 1987 to a truck manufacturing plant owned by the Terex Corporation, a subsidiary of KCS of Westport, Conn."
24. ↑ "Editor's Note". The New York Times. 1995-12-07. https://www.nytimes.com/1995/12/07/us/editors-note-089265.html. "Despite several investigations, no legal proceedings or charges were brought against Terex."
25. ↑ "Terex Corporation Acquires Environmental Solutions Group". October 9, 2024. https://www.waste360.com/mergers-acquisitions/terex-corporation-acquires-environmental-solutions-group.
26. ↑ "Terex pays £181m for revived Powerscreen". https://www.theengineer.co.uk/inspiration/terex-pays-181m-for-revived-powerscreen/.
27. ↑ "TEREX AGREES TO ACQUIRE POWERSCREEN FOR $294 MILLION". 16 June 1999. https://www.nytimes.com/1999/06/16/business/company-news-terex-agrees-to-acquire-powerscreen-for-294-million.html.
28. ↑ Jones, Dow (1999-07-21). "COMPANY NEWS; TEREX TO BUY RAYTHEON UNIT FOR $170 MILLION" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/1999/07/21/business/company-news-terex-to-buy-raytheon-unit-for-170-million.html.
29. ↑ "Terex Company History". Terex.com. http://www.terex.com/minerals-processing-systems/en/about-us/company-history/.
30. ↑ "Home - Terex Construction". Terexrb.com. http://www.terexrb.com/content.aspx?pgID=43.
31. ↑ "Genie - Our Story". Genie Lift. http://genielift.com/en/about-genie/our-story/index.htm.
32. ↑ Waste Today Magazine, trade publication (2015). "Terex acquires Ecotec". https://www.wastetodaymagazine.com/news/terex-acquires-neuson-ecotec/.
33. ↑ Equipment World, Trade publication (2021). "Terex Acquires MDS". https://www.equipmentworld.com/dealers/article/15066451/construction-industry-news-from-terex-mp-and-more.
34. ↑ BBC.com, BBC (April 27, 2022). "Terex acquires Steelweld". https://www.bbc.com/news/uk-northern-ireland-61241590.
35. ↑ Construction Equipment, Trade media (April 2022). "Terex Acquires ZenRobotics". https://www.constructionequipment.com/industry-news/news/21151937/terex-materials-processing-acquires-zenrobotics.
36. ↑ NASDAQ, Stock market exchange website (August 1, 2022). "Terex Acquires ProAll". https://www.nasdaq.com/press-release/terex-mp-acquires-proall-canadas-leading-producer-of-volumetric-mixers-for-concrete.
37. ↑ Construction Equipment, trade website (April 10, 2023). "Terex acquires MARCO conveyors". https://www.constructionequipment.com/industry-news/news/33003165/terex-mp-buys-conveyor-maker-marco.
38. ↑ "Terex and REV Group complete merger, creating a premier specialty equipment manufacturer" (in en). PR Newswire. https://www.prnewswire.com/news-releases/terex-and-rev-group-complete-merger-creating-a-premier-specialty-equipment-manufacturer-302675744.html.
39. ↑ "Bucyrus Completes Acquisition of Mining Business of Terex". Bucyrus International Inc. 2010-02-19. http://www.bucyrus.com/news/article/20100219_155931.aspx. "Bucyrus International, Inc. ...announced today that it has completed its acquisition of the mining equipment business of Terex Corporation."
40. ↑ "Bomag keeps CMI, Cedarapids names on machines after purchase". Randall-Reilly. 21 March 2013. http://www.equipmentworld.com/bomag-keeps-cmi-cedarapids-names-on-machines-after-purhcase/.
41. ↑ "New look: BOMAG rebadges its CMI, Cedarapids purchases". Randall-Reilly. 20 March 2013. http://www.betterroads.com/new-look-bomag-rebadges-its-cmi-cedar-rapids-purchases/.
42. ↑ "Terex Divests Some Asphalt Products". Mediapress Studios. 11 February 2013. https://www.constructionequipment.com/terex-divests-some-asphalt-products-0.
43. ↑ Terex Agrees to Sell Truck Business to Volvo for $160 Million investorsterex.com December 09, 2013
44. ↑ FT.com, Financial Times (May 16, 2016). "Terex sells MHPS port handling business". https://www.ft.com/content/35f2f0f3-6179-335d-9f47-b492918fcb91.
45. ↑ Investor Day Presentation (December 2024). "Terex Investor Day". https://s22.q4cdn.com/583752720/files/doc_presentations/2022/12/Terex-Investor-Day-Presentation_Final_12.13.22.pdf.
46. ↑ Terex Published History. "Terex.com History Timeline". https://www.terex.com/docs/librariesprovider3/default-document-library/terex
history-for-terex.com
july-2021.pdf?sfvrsn=12c851c0_9.

## External links

* Terex Collection Hudson Library & Historical Society

[ ⚑ ]  41°12′54″N 81°26′16″W﻿ / ﻿41.21488°N 81.43782°W﻿ / 41.21488; -81.43782

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