Lack of large automation projects hits Terex backlog
The Terex Corporation has attributed a 27% fall in the backlog of its ports sector business to an absence of large automation project orders.
The backlog of the company’s Material Handling and Port Solutions (MHPS) was down 27% year-on-year in the second quarter, from US$865m to US$631m.
Speaking to investors, the group’s CEO Ronald DeFeo said: “Much of this change can be isolated to the big automation project order book. The business results of the backlog reflect the delivery last year of substantial port automation solutions projects.” This automation backlog fell from US$202m to US$41m.
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