Genie Industries Breaks Ground at Changzhou Facility |
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Genie, a Terex Company
18465 NE 68th St.
Redmond, WA, 98052
USA
Press release date: September 22, 2008
REDMOND, WASH. (September 22, 2008) - Genie Industries, a leading manufacturer of aerial work platforms and part of the Terex Corporation (NYSE:TEX) Aerial Work Platforms (AWP) segment, broke ground at its new manufacturing facility in Changzhou, China. Production is planned to begin in mid-year of 2009.
"We are excited to break ground on this new facility with our partners, ATC Projects and the Changzhou National Hi-Tech District Business Park," said Tim Ford, President, Terex AWP. "This endeavor underscores our goal of becoming the most global aerial work platform manufacturer, with local production to meet local needs. China represents one of the biggest potential markets for us, and China will become one of the largest aerial work platform markets in the world. We know it will happen, and we are positioning ourselves for it."
"This facility is a large step in executing our long-term manufacturing strategy," said Paul Caldarazzo, vice president, Terex AWP. "It will provide products in strong demand within the region using many of the best practices that we have developed in our lean manufacturing implementation over the past decade."
Located a few hours northwest of Shanghai, the facility will manufacture Genie® equipment for the first time in the local Asian market. Initial production will focus on preparing a line of personnel lifts, but over time a full range of aerial work platform products is expected to be produced from this facility. When the facility is ramped up with multiple product lines, it could employ up to 400 Team Members. In addition to Genie® products, the park in Changzhou was chosen for its ability to be enlarged as part of a future Terex Corporation manufacturing campus.
"We believe the success of Genie® products only comes from the success of our customers," said George Chen, Greater China country manager, Genie Industries. "In order to deliver the highest value to customers, Genie Team Members keep the purest wish - to support our customers' success during the process of design, production, sales and service. We hope to further this success through our Changzhou facility."
Genie Industries established a branch office in China 10 years ago, and since has become known for providing quality products and outstanding customer support. Aerial work platforms have gained popularity in many industries in China, including shipyards, airports, hotels, factories and others.
About Genie
Headquartered in Redmond, Wash., with branch offices worldwide, Genie Industries manufactures material lifts, aerial work platforms, trailer-mounted booms and light towers, scissor lifts, self-propelled telescopic and articulating booms and telehandlers. For more information, please visit www.genieindustries.com.
Genie Industries, Inc. is a subsidiary of Terex Corporation (NYSE: TEX), a diversified global manufacturer based in Westport, Conn. For more information on Terex, please visit www.terex.com.
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