Call 2014 a year of progress for the Aerial Work Platform business of Terex. In its annual report released recently, 32% of its net sales were from the AWP sector. Cranes and material handling & port solutions segments both tied at 24%.
By product segment, 53% of Terex AWP sales were from boom lifts, 23% from scissor lifts, 17% from telehandlers, and 7% from trailer-mounted and other products. Sixty-four percent of sales were made in the United States and Canada.
“Terex continued to improve in 2014 despite a more challenging operating environment than anticipated entering the year,” said Terex Chairman and CEO Ron DeFeo. “We have streamlined our business portfolio, reduced our cost structure, introduced innovative new products, and simplified operations."
According to the company's report, Terex increased sales by 3% in 2014, and it was able to generate $329 million in free cash flow. For the year, adjusted operating profit was flat with 2013.
While the material handling & port solutions and construction segments showed profit improvements, the cranes, materials processing, and aerial work platform segments were below 2013 levels due to unpredictable markets for cranes and materials processing and operating inefficiencies and increased investments for AWPs.
"There is more work to do, but overall we are pleased with the progress we have made and the momentum of our internal improvement initiatives," said DeFeo.
2015 a breakout year? Stay tuned.
If you have any aerial lift needs and would like to discuss
potential solutions, please drop GET, LLC a line via our website at
www.get-guam.com or give us a call at 671-797-0789-your authorized Terex/Genie
Representative for Guam and Micronesia.