Terex announces Q3 results

The new Port Equipment business, expanded last year following the successful acquisition of the Fantuzzi Group, contributed to the group’s overall loss.

“Our Port Equipment business has not been profitable, as we are still suffering from the net sales gap created before our [Fantuzzi] acquisition and the longer lead times of this business,” said Terex President and COO, Tom Riordan.

He added that customers had increased their quotation activity, indicating there are better prospects for success ahead for the business.