Ron DeFeo, chairman and CEO of Terex Corp., Westport, Conn., said this week he intends to decide by early 2010 which of the company’s construction equipment lines will be sold. DeFeo said during a JPMorgan investor conference in New York that he’s been focused on lowering costs in recent months to determine whether some struggling product lines could be retained. But he acknowledged the company’s presence in some markets may never be large enough to consistently generate profits.
Terex, which makes a variety of equipment, including cranes and aerial work platforms, has struggled to compete in mainline construction equipment categories against larger rivals, according to the article on nasdaq.com.
"We've never really demonstrated the ability to be meaningfully profitable in this business," DeFeo said during the conference, broadcast over the Internet. "I'm going to look at it by product type and make some decisions by early 2010."
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