Terex Trucks in it for the long haul, says MD
The new-look Terex Trucks remains committed to the long haul, Managing Director Paul Douglas has said in a confident statement of intent almost two months since its acquisition by Volvo Construction Equipment (Volvo CE).
Following on from similar statements by Volvo CE president Martin Weissburg and Terex Chairman and CEO Ron DeFeo, UK-based Douglas says Terex Trucks will continue to operate as an independent business while at the same time drawing on the resources and expertise of its new parent company.
"Our new ‘owned but independent’ status gives us the best of both worlds," Douglas says. "We retain our lean and agile organisational structure, our entrepreneurial spirit, customer focus and speed of execution — but with the added benefits that being part of a global leader in the construction equipment industry brings with it."
He says the Terex Trucks name will remain for the long term, with the company staying committed to its entire customer base and product range.
"That means both rigid and articulated haulers will play important roles in the company’s future, and we will continue to support the entire field population with parts and service," Douglas adds. "We are also committed to retaining our dealer partners, our existing production footprint and our skilled and committed workforce."
Those dealer partners include Terrequipe, the company’s exclusive dealer in Australia.
"Terrequipe has continually developed Terex Trucks sales and service in Australia over the past few years," Terex Trucks Sales and Marketing Director Peter Thompson says. "We are as committed as ever to supporting them with the supply of our great product range, parts and service."
Volvo CE Vice-President, Strategy and Business Development, Andrew Knight says the company’s acquisition of Terex’s hauler business has been well timed in terms of market outlook.
"Although the mining sector — a big customer of Terex Trucks — is currently depressed, the benefits of our new investment and cooperation relationship looks set to coincide with the cyclical upswing of the segment, further strengthening the acquisition rationale," he says.
"Volvo CE has made no secret of its longstanding wish to offer customers a rigid hauler option," Knight says. "Terex Trucks products are well respected in the market and there is a large field population to support its parts business.
"Both rigids and articulated haulers provide a strong complement to Volvo CE’s product range, and since the deal closed we have had greater insight into the strengths of the business — reinforcing our view that Terex Trucks is a good strategic fit."
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