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Fri May 07 2021

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Terex signs US$250m Chinese deal

15 Nov 17 Terex has struck a deal to supply US$250m-worth of equipment to improve safety on utility installation in China.

Signing the deal
Signing the deal

The company was one of 28 on the US trade mission to China led by President Donald Trump and secretary of commerce Wilbur Ross.

Joining Terex at official trade delegation events was Xuzhou Handler Special Vehicles, the distributor for Terex Utilities products in China; and Shanghai Horizon Equipment & Engineering, an aerial work platform rental business and a customer of Terex Genie equipment.

During the mission, Terex Utilities and Xuzhou Handler signed a letter of intent for Xuzhou to buy 5,000 insulated aerial devices from Terex over a five-year period, with a total value of more than US$250m (£190m). The products will enable and support the continuing improvement and ongoing adoption of live line work practices in the Chinese public utility sector.

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Terex Corporation president and CEO John Garrison said: “The visit helped us to renew our longstanding relationships in China and to build new ones. We thank Xuzhou Handler for their business and look forward to working with them and with other customers and prospective customers in China to continue to advance safe work practices for working at height and on live lines. In so doing, we expect that all involved will benefit from expanded business opportunities.”

Terex has more than 600 employees in China with facilities in Beijing, Shanghai and Changzhou. It has partnered with China’s State Administration of Work Safety to facilitate enactment of standards and regulations relevant to safe working at heights and heavy lifting and has partnered with the US Trade Development Agency to promote ‘live-line’ awareness at China’s State Grid and Southern Grid. The company said that these relationships had helped generate demand for its products, including Genie aerial platforms, Terex insulated aerial devices and Terex and Demag cranes.

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