February 25, 2008
REDMOND, WASH. (January 15, 2008) Two Terex business segments are coming together to share resources, working out of one facility to take advantage of existing plant space and available manpower. Terex Aerial Work Platforms (AWP) and Terex Construction, two business segments of the Terex Corporation (NYSE:TEX), have recently partnered in Coventry, England to manufacture Genie® scissor lifts. The combined effort offers greater operational efficiency than could be obtained by operating two facilities and provides Terex AWP a facility closer to its customers in the robust European market for aerial work platforms.
We are seeing a significant increase in demand for our products in the European market. The partnership between Terex AWP and Terex Construction allows us to utilize the strengths of both business units while acting strategically and cost effectively. Additionally, we will have the added benefit of offering greater customer responsiveness and improved lead times, said Matt Fearon, Vice President and Managing Director for Europe, Middle East, Africa and Russia for the Terex AWP Business.
With this joint project in Coventry, we are demonstrating a tremendous opportunity to work as ˜One Terex™ and take advantage of the open plant space and capable operations, said Bob Isaman, President of Terex Construction. This is a great opportunity to share best practices, and a prime example of how two different divisions can unite forces.
The Coventry location will initially manufacture two Genie® mini electric scissors: the GS-1532 and the GS-1932, which are also known as slab scissors. The two models offer excellent maneuverability,
a zero inside turning radius, non-marking tires, a variable speed DC motor and 25 percent – 30 percent gradeability, among other features. The new location in the United Kingdom will allow Genie Industries to distribute products closer to its customer base, thus eliminating long lead times.
The line was fully developed and tested at the Genie Industries Redmond, Wash. headquarters before being implemented in Coventry. The teams worked diligently to create the assembly line, materials distribution system and supporting management system, utilizing the latest application of the Terex Business System.
We are using many of the lean manufacturing methodologies that we have applied at Genie over the past few years, said Fearon. We worked closely with a cross functional team from Coventry during 2007 to teach them how the line has been designed.
Production and shipping of the products have already begun.
Terex Corporation is a diversified global manufacturer with 2006 net sales of approximately $7.6 billion. Terex operates in five business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, Terex Materials Processing & Mining, and Terex Roadbuilding, Utility Products and Other. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, refining, and utility industries. Terex offers a complete line of financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. More information on Terex can be found at www.terex.com