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.
The announcement was made to the company’s Oklahoma City team members in early March 2021. Terex currently manufactures its Genie line of telehandlers in Oklahoma City and Umbertide, Italy.
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.”