Terex's Steve Filipov Predicts U.S. Recovery for Cranes

Enlarge Image The AC140 is a popular AT crane model for Terex.

April 20, 2005 • “We see the signs of a U.S. recovery in the hydraulic crane business,” said Steve Filipov, president and CEO of Terex Cranes, Waverly, Iowa, following last month's ConExpo. At least 15 AC140 all-terrain cranes were sold prior to the show, demonstrating the crane's popularity in the United States. An additional eight units were sold during the show.

 

Crawler cranes (under 200-ton) have also shown some improvement over prior years. Tower Crane sales are booming and we are increasing production at our German, Italian, and U.S. operations to meet demand,” said Filipov. More than $50 million worth of equipment was ordered from Terex Cranes, which includes AmQuip's $30 million order for Terex-Peiner tower cranes.

 

In conclusion, Filipov stated: “We have implemented our new pricing and we are receiving orders, however U.S. rental rates continue to lag due to a competitive environment which could slow the recovery if no increases are pushed through to the end customer in the short term.'