Terex Authorizes New Share Repurchase Program
July 12 2018 - 4:16PM
Terex Corporation (NYSE:TEX) today announced that its Board of
Directors authorized a new share repurchase program of up to $300
million. The Company completed its previous share repurchase
program at the end of the second quarter of 2018.
John L. Garrison, Terex President and Chief Executive Officer,
stated, “During our Investor Presentation in December 2016 we
committed to pursuing a disciplined capital allocation strategy
that included the efficient returns of capital to shareholders
through share repurchases of $1 billion to $1.5 billion through
2020. Since then, we delivered on our commitment to follow
this disciplined capital allocation strategy and have returned
$1.25 billion to shareholders through share repurchases, already
achieving the mid-point of our range. Today’s announcement
demonstrates our continued commitment to returning capital to
shareholders and creating long-term shareholder value in
conjunction with our Focus, Simplify and Execute To Win
strategy.”
The timing of the share repurchase program will be based on
available liquidity, cash flows and general market
conditions. The repurchase program may be executed through
various methods, including open market purchases.
Contact Information:Terex
CorporationBrian J. Henry, Senior Vice PresidentBusiness
Development & Investor Relations(203)
222-5954brian.henry@terex.comhttps://investors.terex.com
About Terex:Terex
Corporation is a global manufacturer of lifting and material
processing products and services that deliver lifecycle solutions
to maximize customer return on investment. The Company reports
in three business segments: Aerial Work Platforms, Cranes, and
Materials Processing. Terex delivers lifecycle solutions
to a broad range of industries, including the construction,
infrastructure, manufacturing, shipping, transportation, refining,
energy, utility, quarrying and mining
industries. Terex offers financial products and services
to assist in the acquisition of Terex equipment
through Terex Financial Services. Terex uses its
website (www.terex.com) and its Facebook page
(www.facebook.com/TerexCorporation) to make information available
to its investors and the market.
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