Lack of automation projects hurts Terex results
A shortage of automation projects has hit Terex Port Solutions (TPS) with the combined material handling and port solutions (MHPS) business recording a US$102m fall in third quarter net sales.
The backlog of the MHPS segment, defined as firm orders that are expected to be filled within one year, now only stands at US$44m worth of automation projects, down from US$120m one year ago.
Ron DeFeo, Terex Chairman and CEO, said: “The MHPS business saw declines driven by a decrease in port automation sales.”
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