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Terex to Relocate Demag Overhead Crane Manufacturing Operations to Oklahoma City

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Demag Cranes & Components, a Terex Corporation Company

29201 Aurora Road, Cleveland, OH, 44139, USA

Original Press Release

Terex to Relocate Demag Overhead Crane Manufacturing Operations to Oklahoma City

Press release date: July 16, 2014

Solon, Ohio – Terex Corporation has announced it will relocate production of its overhead cranes from its current Houston location to a newly upgraded Oklahoma City facility (OKC).

“This move will help us align with increasing customer demand by more than doubling our crane manufacturing capacity, while continuously serving our customers in the growing southwest and southeast markets,” said John Paxton, Vice President and General Manager, Terex Material Handling North America. “By taking advantage of manufacturing synergies at OKC, we will further improve our overhead crane manufacturing processes and increase efficiency. Our sales and service teams in Houston, Dallas, Oklahoma, and Louisiana are unaffected, and continue to provide local support to our customers in these markets.”

The 700,000-square-foot Terex OKC facility currently manufactures aerial work platforms, construction cranes and material processing products. The recent $40 million investment into the OKC facility and is a key part of an overall Terex strategy to enhance productivity by consolidating and streamlining production.

About Terex Material Handling
Terex Corporation is one of the world’s leading suppliers of crane technology with Demag industrial cranes and crane components. The core competence of the Terex Material Handling business group lies in the development, design and production of technically sophisticated cranes, hoists and components and the provision of services for these products. The business group manufactures in 16 countries on five continents and is present in more than 60 countries, reaching customers in more than 100 countries.

About Terex Corporation
Terex Corporation is a lifting and material handling solutions company reporting in five business segments: Aerial Work Platforms, Construction, Cranes, Material Handling Port Solutions and Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. Terex uses its website (www.terex.com) and its Facebook page (www.facebook.com/TerexCorporation) to make information available to its investors and the market. Please visit our websites www.demag-us.com and www.terex.com for further information.

Product and trade media contact:
Dan Konstantinovsky
Phone: (440) 248- 2400
dan.konstantinovsky@terex.com

Investor contact:
Tom Gelston
Phone: 203-222-5943
Tom.Gelston@Terex.com

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