Terex to move telehandler production to Mexico
By Lindsey AndersonMay 18, 2021
Terex Corporation will close its Oklahoma City manufacturing facility in early 2022 and move telehandler production to a new plant in Monterrey, Mexico.
Speaking to investors during a call on April 30, John Garrison, Terex Corp. chairman and CEO, attributed the Oklahoma plant closure and production move as a means for Terex to improve its global cost competitiveness.
“This action will position us with cost-competitive telehandler products to the North American market,” Garrison said. “[The production shift] will also give us incremental capacity, but we’ll produce [telehandlers] in both locations over the transition period of time.”
Garrison said the company expects 30% year-over-year growth for its AWP segment, which includes telehandlers, for the remainder of the year (Q2-Q4.) “We are seeing substantial growth in this segment,” he said. “We’re excited about [the] opportunity to meet the higher demand, as the market improves.”