Entertainment was provided by rock legends Crosby, Stills & Nash, who treated to the audience to a non-stop medley of classic greats, including I Almost Cut My Hair.
Terex president and CEO Ron Defeo, who clearly already has (although perhaps not metaphorically), introduced the band. But he said that it was Terex customers who really “rocked”.
Earlier in the day, Mr Defeo had told a press conference of his long-term vision to make Terex the industry leader for customer service. The three strands to the strategy were to improve product reliability, improve parts availability, and to speed up the resolution of any problems that need fixing. “That’s how we’re going to drive a better customer experience,” he said.
Mr Defeo said that he saw most markets and product segments recovering in 2011 except cranes, which would take a little longer. He said that the company’s target was to get back to $8bn in revenues by 2013 with a 12% operating margin.
Sales in 2010 were $4.4bn. Forecasts for 2011 range from $5bn to $5.4bn.
Terex sales last peaked at around $8bn in 2008 after a decade of strong growth and dozens of acquisitions. The following year, 2009, the collapsed to below $4bn as the global economy tanked.
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