Materials Processing ‘critically important’ as Terex looks to expand

By Steve Ducker29 June 2022

The head of Terex Corporation has described its Materials Processing section as “of critical importance” to the business as it embarks on an ambitious acquisition programme.

Kieran Hegarty John Garrison Pat Brian John Garrison (centre) with Kieran Hegarty (left) and Pat Brian. (Photo: D&Ri magazine)

John Garrison, who holds the titles of chairman of the board, president and CEO of the corporation, was speaking at the recent Hillhead exhibition in the north of England, alongside Terex Materials Processing (MP) president Kieran Hegarty and Pat Brian, the vice president and managing director of mobile crushing and screening.

At one time, Terex Materials Processing (MP) accounted for less than 20% of the total company, but now – through a combination of growth in its segment and portfolio rationalisation elsewhere in the company – that figure is now around 60% and still growing.

Kieran Hegarty believes a lot of Terex MP’s upturn – including plans for a significant investment in its fabrications facility in Ballymoney, Northern Ireland – has been due to the way the company dealt with the Covid-19 pandemic two years ago.

He said: “We were very quick out of the blocks.

“And despite still facing a lot of challenges in the supply chain and cost inflation, we are not seeing any signs of recession. We remain very positive. “

That positivity is shared by John Garrison, who says that Terex has never been financially better placed for acquisition-based expansion.

“We have the strongest balance sheet in the history of the company,” he said.

“That makes us open to grow via acquisition, with opportunities in each vertical market.

“We are looking to build a pipeline, but it takes time.”

He added that the ongoing equipment electrification programme would be central to deciding which companies Terex will be looking to buy.

“It is absolutely a consideration,” said John.

“We will be asking where they are on the electric curve. If they are not far enough along it, we can still help them.”

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Demolition & Recycling International Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Double celebration for Kiesel
German equipment pioneer enjoys memorable end to 2022
Four green awards for Keltbray
Contractor recognised for environmental best practice
What demolition and recycling equipment was on show at Bauma 2022?
Manufacturers return to Munich for global trade show Bauma
CONNECT WITH THE TEAM
Steve Ducker Editor, Demolition & Recycling International Tel: +44(0) 1892 786 210 E-mail: steve.ducker@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA