Terex Corporation was founded as the Euclid Company in 1933, which was purchased by General Motors in 1953. As Euclid's haul trucks dominated the marketplace, the U.S. Department of Justice brought an antitrust suit against GM. In 1970, GM coined "Terex" for the undivested remains of Euclid, and continued to produce crawlers, front-end loaders, and scrapers. Today, Terex describes itself as "focused on its mission of providing solutions to our Machinery and Industrial Product customers that yield superior productivity and return on investment. Terex has continued its evolution in recent years, primarily through a series of acquisitions and divestitures, designed to enhance the product offering, improve geographic coverage and deliver value to Terex customers, shareholders and team members." 
Terex had $6,504,600,000 in net sales in 2011 and $7,050,700,000 in total assets in 2011, employing 22,600 people. It is headquartered in Westport, Connecticut.
Ties to Pete Peterson's "Fix the Debt"
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Terex Corporation is part of the Campaign to Fix the Debt as of February 2013.
This article is part of the Center for Media and Democracy's investigation of Pete Peterson's Campaign to "Fix the Debt." Please visit our main SourceWatch page on Fix the Debt.
|About Fix the Debt|
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Through a special report and new interactive wiki resource, the Center for Media and Democracy -- in partnership with the Nation magazine -- exposes the funding, the leaders, the partner groups, and the phony state "chapters" of this astroturf supergroup. Learn more at PetersonPyramid.org and in the Nation magazine.
Board of Directors
As of February 2013
- Ron DeFeo - Chairman & CEO
- G. Chris Andersen - Partner, G.C. Andersen Partners, LLC
- Paula H.J. Cholmondeley - Private Consultant - Strategic Planning
- Donald DeFosset - Chairman, President and CEO (retired), Walter Industries, Inc.
- Thomas J. Hansen - Vice Chairman of Illinois Tool Works, Inc.
- David A. Sachs - Managing Director, Ares Management, LLC
- Oren G. Shaffer - Vice Chairman and Chief Financial Officer, Qwest Communications International, Inc.
- David C. Wang - Vice President of International Relations of The Boeing Company
- Scott W. Wine - Chief Executive Officer of Polaris Industries, Inc.
As of February 2013
- Ronald M. DeFeo - Chairman and Chief Executive Officer
- Stacey Babson-Smith - Vice President, Chief Ethics and Compliance Officer
- Kevin A. Barr - Senior Vice President, Human Resources
- Kevin Bradley - Senior Vice President
- Mark Clair - Vice President, Controller and Chief Accounting Officer
- Eric I. Cohen - Senior Vice President, General Counsel and Secretary
- George Ellis - President, Terex Construction
- Matt Fearon - President, Terex Aerial Work Platforms
- Tim Ford - President, Terex Cranes
- Steve Filipov - President, Material Handling & Port Solutions
- Doug Friesen - Senior Vice President, Terex Business System
- Tom Gelston - Vice President, Investor Relations
- Kieran Hegarty - President, Terex Materials Processing
- Brian J. Henry - Senior Vice President, Finance and Business Development
- Ken Lousberg - President, Terex China
- Ramon Oliu - President, Terex Financial Services
- Phillip C. Widman - Senior Vice President and Chief Financial Officer
200 Nyala Farm Road
Westport, CT 06880
Phone: (203) 222-7170
Fax: (203) 222-7976
website: http://www.terex.com/en www.terex.com
Resources and articles
Featured SourceWatch Articles on Fix the Debt
- Fix the Debt Portal Page
- Fix the Debt's Leadership
- Fix the Debt's Partner Groups
- Fix the Debt's State Chapters
- Fix the Debt's Lobbyists
- Fix the Debt's Parent Group
- Fix the Debt's Corporations
- Pete Peterson
- Peter G. Peterson Foundation
- America Speaks
- Simpson-Bowles Commission
- Erskine Bowles
- Alan Simpson
- Social Security
- Terex, "A History of Terex Corporation", organization website, accessed February 17, 2013
- Terex Corporation, "2011 Annual Report with Form 10-K", organizational document, accessed February 4, 2013
- Terex Corporation, "Investor Relations - Board of Directors", organization website, accessed February 4, 2013
- Terex Corporation, "Investor Relations - Management", organization website, accessed February 4, 2013
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