VIDEO: Terex confident on 2014 prospects

Terex chairman and CEO Ron DeFeo is confident about the manufacturer’s prospects in 2014, and expects strong sales to continue in the company’s lifting equipment division, Genie.

Speaking during the ConExpo-Con/Agg construction equipment exhibition in Las Vegas, US, Mr DeFeo said, “From a financial point of view, fleets are old and there is high utilisation today. Used equipment values are strong, and ultimately the customer base is planning well when it comes to replacing fleet.”

He also discussed the strategy behind Terex’s sale of its hauler business to Volvo CE – a US$ 160 million deal announced at the end of last year. Other topics covered included the prospects for the crane division, and the company’s commitment to its construction equipment business in the wake of the hauler sale and other recent deals, including the sale of its roadbuilding division.

Mr DeFeo also talked about what he thought the biggest challenges currently facing the construction equipment industry were. To view the full video, click on the image.