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The world’s construction machinery giant Terex gets ready for intensive investment and development in China.
In the 5th International Trade Fair for Construction Machinery, Building Material Machines, Construction Vehicles and Equipment (Bauma China 2010) which started on November 23, 2010, the global construction machinery giant Terex made a great show with its four departments and 14 sets of equipments.
As the financial crisis is gradually ebbing away, the global economy trots on the way back to normal. Taking this opportunity, a large number of multinationals accelerate its pace of development and increase the investment in China. Dr. Lang Hua, president of Terex China said in a press conference: “Terex has already been investing and developing in China for 20 years when the country undergoes fast economic growth. Now we plan to expand our power and investment in China.” During the exhibition, Terex showed the most advanced all-terrain crane, aerial operation platform, crushing screening station and so on in world.
It is known that Terex inked an agreement with China’s construction machinery manufacturer NFLG and founded a joint venture specializing in the crushing screening machine. The new joint venture is located in Quanzhou, Fujian and owned by Terex. The joint venture will produce the movable crushing screening equipment based on Terex’s global standard. The establishment of this joint venture is the expansion of Terex’s strategy in China. As the largest producer of the movable crushing screening equipment in the world, Terex takes 50% of the global market and the know-how of the core technology in this field. Powerscreen, Finlay, Pegson, these famous crushing screening devices are world famous and fully recognized by the global users. All of them are branded with “made by Terex”.
In August 2010, Terex signed an agreement with Shandong Toppower Group. Terex bought 65% shares of the crane-making department of this company. The cooperation greatly enriched Terex’s product category in China and assist in further consummating the production distribution. It became an all-purpose crane solution supplier in China, ranging its products from large port crane, crawler crane and vehicle crane. Dr. Lang Hua said; “In China, big companies like China Nuclear Engineering Group Co. and China National Petroleum Corporation have got satisfactory engineering solutions from Terex. Some small- and medium-sized companies also have access to our advanced equipment and careful serives.”
In September, Terex (Changzhou) Machinery Co., Ltd was officially put into production. This plant was built by Genie Corporation under Terex and specialized in producing aerial operation platforms. It is the first time that the Genie-branded products are manufactured in Asia. At the beginning the plant focuses on the aerial operation platforms for personal use and will expand its product category to the full series of the aerial operation platforms.
With the implementation of several key measures for China, Terex has already established this most populated country as one of the key markets in the world.
Actually, Terex has been developing in China for more than 20 years. In 1988, Terex and China North Industries Group Corporation founded its first joint venture in China, which went public in the Shanghai Stock Exchanges in 2000. In addition, as a world famous engineering machinery producer, Terex began to make and carry out systematical strategy for China. In 2007 the company integrated its Demag and Genie in China. In 2008 it founded a global purchasing center in Beijing and founded the Asian biggest mining truck production base in Inner Mongolia. The year of 2008 also witnessed the establishment of Terex’s aerial operation platform production base in Changzhou. When the financial crisis swept the world in 2009, Terex took the opportunity and acquired Italy-based FantUZZi, which specializes in producing the port devices. In 2010, Terex began to cooperate with Yangtze River Crane in expanding its product category and manufacturing ability.
With the confident in China’s market and the experience they have gained in China, Terex starts the adjustment towards its business in China with Xiamen and Changzhou as its main bases. This adjustment follows its global changes. The adjustment, as well as the cooperation with NFLG and Shandong Toppower Group, greatly improves its production ability. With optimized technology and consummated supports, Terex has already drawn a reasonable and effective development blueprint in China. After 20 years’ progress, Terex finally puts China into its core strategy.
Related:
Brief introduction to Terex
Terex Corporation (NYSE: TEX)is a diversified global manufacturer of a broad range of heavy equipment for a variety of industries, including construction, infrastructure, quarrying, recycling, surface mining, shipping, transportation, refining, utility and maintenance. The company's major business segments include aerial work platforms, construction, cranes, materials processing & mining, and roadbuilding and utility products. Terex has more than 15,900 employees and operates 50 manufacturing facilities in North America, South America, Europe, Asia and Australia. Terex sells its products in more than 170 countries.
In the 5th International Trade Fair for Construction Machinery, Building Material Machines, Construction Vehicles and Equipment (Bauma China 2010) which started on November 23, 2010, the global construction machinery giant Terex made a great show with its four departments and 14 sets of equipments.
As the financial crisis is gradually ebbing away, the global economy trots on the way back to normal. Taking this opportunity, a large number of multinationals accelerate its pace of development and increase the investment in China. Dr. Lang Hua, president of Terex China said in a press conference: “Terex has already been investing and developing in China for 20 years when the country undergoes fast economic growth. Now we plan to expand our power and investment in China.” During the exhibition, Terex showed the most advanced all-terrain crane, aerial operation platform, crushing screening station and so on in world.
It is known that Terex inked an agreement with China’s construction machinery manufacturer NFLG and founded a joint venture specializing in the crushing screening machine. The new joint venture is located in Quanzhou, Fujian and owned by Terex. The joint venture will produce the movable crushing screening equipment based on Terex’s global standard. The establishment of this joint venture is the expansion of Terex’s strategy in China. As the largest producer of the movable crushing screening equipment in the world, Terex takes 50% of the global market and the know-how of the core technology in this field. Powerscreen, Finlay, Pegson, these famous crushing screening devices are world famous and fully recognized by the global users. All of them are branded with “made by Terex”.
In August 2010, Terex signed an agreement with Shandong Toppower Group. Terex bought 65% shares of the crane-making department of this company. The cooperation greatly enriched Terex’s product category in China and assist in further consummating the production distribution. It became an all-purpose crane solution supplier in China, ranging its products from large port crane, crawler crane and vehicle crane. Dr. Lang Hua said; “In China, big companies like China Nuclear Engineering Group Co. and China National Petroleum Corporation have got satisfactory engineering solutions from Terex. Some small- and medium-sized companies also have access to our advanced equipment and careful serives.”
In September, Terex (Changzhou) Machinery Co., Ltd was officially put into production. This plant was built by Genie Corporation under Terex and specialized in producing aerial operation platforms. It is the first time that the Genie-branded products are manufactured in Asia. At the beginning the plant focuses on the aerial operation platforms for personal use and will expand its product category to the full series of the aerial operation platforms.
With the implementation of several key measures for China, Terex has already established this most populated country as one of the key markets in the world.
Actually, Terex has been developing in China for more than 20 years. In 1988, Terex and China North Industries Group Corporation founded its first joint venture in China, which went public in the Shanghai Stock Exchanges in 2000. In addition, as a world famous engineering machinery producer, Terex began to make and carry out systematical strategy for China. In 2007 the company integrated its Demag and Genie in China. In 2008 it founded a global purchasing center in Beijing and founded the Asian biggest mining truck production base in Inner Mongolia. The year of 2008 also witnessed the establishment of Terex’s aerial operation platform production base in Changzhou. When the financial crisis swept the world in 2009, Terex took the opportunity and acquired Italy-based FantUZZi, which specializes in producing the port devices. In 2010, Terex began to cooperate with Yangtze River Crane in expanding its product category and manufacturing ability.
With the confident in China’s market and the experience they have gained in China, Terex starts the adjustment towards its business in China with Xiamen and Changzhou as its main bases. This adjustment follows its global changes. The adjustment, as well as the cooperation with NFLG and Shandong Toppower Group, greatly improves its production ability. With optimized technology and consummated supports, Terex has already drawn a reasonable and effective development blueprint in China. After 20 years’ progress, Terex finally puts China into its core strategy.
Related:
Brief introduction to Terex
Terex Corporation (NYSE: TEX)is a diversified global manufacturer of a broad range of heavy equipment for a variety of industries, including construction, infrastructure, quarrying, recycling, surface mining, shipping, transportation, refining, utility and maintenance. The company's major business segments include aerial work platforms, construction, cranes, materials processing & mining, and roadbuilding and utility products. Terex has more than 15,900 employees and operates 50 manufacturing facilities in North America, South America, Europe, Asia and Australia. Terex sells its products in more than 170 countries.