July 23, 2014 9:30 PM ET

Machinery

Company Overview of Terex Material Handling & Port Solutions AG

Company Overview

Demag Cranes AG designs and develops cranes, hoists, and automated transport and logistics systems for ports and terminals and provides related services in Germany, Rest of Europe, North and South America, and internationally. It operates in two segments, Material Handling and Port Solutions. The Material Handling segment produces standard cranes, process cranes, crane construction kits, rope and chain hoists, travel unit components, switch and control systems, geared motors and drives, load handling attachments, and crane components. It also offers crane inspections and safety checks, maintenance and repairs, spare parts, upgrades and refurbishment, and under-the-hook services serving end m...

Forststrasse 16

Düsseldorf,  40597

Germany

Founded in 1819

5,108 Employees

Phone:

49 211 7102 1010

Fax:

49 211 7102 3130

Key Executives for Terex Material Handling & Port Solutions AG

Chief Executive Officer and Member of Management Board
Age: 46
Managing Director of Finance
Age: 52
Managing Director of Port Solutions and Member of the Management Board
Age: 52
Head of Cranes Strategy for New Markets
Head of Investor Relations
Age: 51
Compensation as of Fiscal Year 2014.

Terex Material Handling & Port Solutions AG Key Developments

Terex Material Handling & Port Solutions AG Reports Earnings Results for the First Half Ended June 30, 2013

Terex Material Handling & Port Solutions AG reported earnings results for the first half ended June 30, 2013. For the period, the company reported sales of EUR 22.778 million compared to EUR 21.857 million a year ago. Other operating income was EUR 0.187 million compared to EUR 0.783 million a year ago. Loss from ordinary activities were EUR 11.651 million compared to profit from ordinary activities of EUR 48.266 million a year ago. Net loss for the reporting period was EUR 18.176 million compared to net profit for the reporting period of EUR 46.192 million a year ago.

Demag Cranes AG Reports Earnings Results for the Quarter Ended December 31, 2012

Demag Cranes AG reported earnings results for the quarter ended December 31, 2012. For the quarter, the company reported revenues of €227.140 million, EBIT of €59.869 million, EBT of €57.703 million, net income after tax attributable to shareholders of the company of €57.396 million or €2.71 per share compared to the revenues of €1,123.267 million, EBIT of €130.256 million, EBT of €116.966 million, net income after tax attributable to shareholders of the company of €84.506 million or €4.00 per share for the previous year. Cash flows used in operating activities was €1.449 million compared to the cash flows from operating activities of €40.714 million for the previous year. Purchase of intangible assets and property, plant and equipment was €8.091 million compared to the €22.272 million for the previous year.

Demag Cranes AG Announces Executive Changes

Demag Cranes AG announced that Mr. Steve Filipov will assume the position of Chief Operating Officer of Demag Cranes AG as the Terex Corporation continue the transition of this business into the Terex family. Mr. Filipov will retain overall Terex responsibility for the Russian market as well as Corporate Marketing. Mr. Filipov joined Terex in 1995 and has held positions of increasing responsibility, including President of Terex Cranes from 2004-2008. Aloysius Rauen will continue in his current role as CEO of company and has announced his intention to resign during the course of 2013 once the integration of the Demag Cranes business into the Terex group is further along. Upon Mr. Rauen's resignation, Mr. Filipov will assume the role of CEO of the company.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 24, 2013
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Merger/Acquisition
July 24, 2013
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