Terex Material Handling Celebrates 50 Years of Success in North America

Solon, Ohio, – Terex Material Handling Port Solutions, a segment of Terex Corp. and the world’s leading supplier of industrial cranes, crane components and complementary services under the Demag brand, is celebrating 50 years of business success and being an industry leader in North America for the production of Overhead cranes, Hoists, and Material handling components.

The present-day Terex Material Handling Port Solutions segment was founded in 1819 under the name Mechanische Werkstätten Harkort & Co. in Wetter, Germany. The Company then established a North American headquarters on September 17, 1965 in Detroit, Michigan and moved to Solon, Ohio shortly thereafter. In 2011, Terex Corp. gained a majority share in the Company and integrated it into Terex as a fifth business segment. Today, Terex Material Handling & Port Solutions has revenues of nearly $2 Billion and the world's largest installed base of overhead cranes and hoists under the Demag brand.

“We would like to thank our customers and partners for the successes that we have achieved in the past 50 years,” said John Paxton, Vice President and General Manager, Terex Material Handling North America. “This milestone is a testament to the quality of our people, products and unmatched commitment to our customers’ and partners’ success. We look forward to continuing to support North American manufacturers for the next 50 years.”

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


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