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BUSINESS: Terex growth


DIVERSIFIED plantmaker Terex is looking for further expansion in its lifting division, president Fil Filipov told shareholders at the company's quarterly results.

'Despite the fact that we have grown our revenues tenfold over the past five years, we know there are substantial opportunities to further grow our franchise both internally and through acquisitions,' he said.

Terex posted an operating profit of £35.2 million in the quarter to March 31 on revenue of £355 million, up by 30 per cent and 36 per cent respectively on the same period last year. Revenue in the earthmoving division was 75 per cent higher at£203 million, thanks to strong performances from its new acquisitions Powerscreen and Cedarapids.