Terex focuses on positives of Chinese market

Terex Corp shrugged off concerns about the slowing Chinese economy and asserted that it remains an enormous and growing market for its products.

Speaking on the opening day of the Bauma China exhibition in China, Ken Lousberg, president of Terex’s China business, said; “China’s market is very, very big and it’s just going to get bigger. Today, as the growth rate slows, it is still a growth market with a lot of opportunity.

“It’s the largest construction market in the world, and we expect it to continue to be the largest. Today China is an uncertain economy, but it will come back and we are here for the long term.”

He said Terex’s goal was to reach revenues of US$1 billion in the country; “at this point we are halfway there. We’re already enjoying good growth.”

Terex highlighted several opportunities, including the aerial platform business, which it said was nearing a tipping point, with the conditions in place for an exponential growth rate. These include a greater focus on both worker safety and productivity on site, together with a growing availability of machines through China’s expanding rental sector.

In the cranes sector, Norbert Dudek, general manager of Terex Cranes China, said there were particular opportunities in the supply of heavy lift crawlers for China’s expanding nuclear and coal conversion programmes , along with the petrochemical and wind power markets.

Mr Lousberg said Terex had now slowed up its investment in the country; “We tend to invest where we think there are bigger opportunities”, and added that Terex was increasing its investment in the cranes business “because the timing is right.”

Terex has been operating in China since 1988 and now has six production facilities in the country producing aerial platforms, cranes and other equipment.