This document contains the presentation from Tim Ford, President of Terex Aerial Work Platforms, at the JPMorgan Basics & Industrials Conference on June 4, 2008. Ford discusses the strong sales growth and global expansion of Terex AWP over the past decade. He outlines the secular growth drivers of the aerial work platform industry and Terex AWP's strategy to further strengthen and globalize its business, maximize revenue and profit from its large installed base, and extend its product offerings beyond aerials. Ford also highlights opportunities to apply lean principles more broadly across the value chain through partnerships with customers and suppliers.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
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how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
1. JPMorgan Basics & Industrials
Conference
Tim Ford
President, Terex Aerial Work Platforms
June 4, 2008
2. Forward Looking Statements
& Non-GAAP Measures
The following presentation contains forward-looking information based on the current expectations of Terex Corporation.
Because forward-looking statements involve risks and uncertainties, actual results could differ materially. Such risks and
uncertainties, many of which are beyond the control of Terex, include among others: our business is highly cyclical and weak
general economic conditions may affect the sales of its products and its financial results; our business is sensitive to
fluctuations in interest rates and government spending; the ability to successfully integrate acquired businesses; the retention
of key management personnel; our businesses are very competitive and may be affected by pricing, product initiatives and
other actions taken by competitors; the effects of changes in laws and regulations; our business is international in nature and
is subject to changes in exchange rates between currencies, as well as international politics; our continued access to capital
and ability to obtain parts and components from suppliers on a timely basis at competitive prices; the financial condition of
suppliers and customers, and their continued access to capital; our ability to timely manufacture and deliver products to
customers; possible work stoppages and other labor matters; our debt outstanding and the need to comply with restrictive
covenants contained in our debt agreements; our ability to maintain adequate disclosure controls and procedures, maintain
adequate internal controls over financial reporting and file its periodic reports with the SEC on a timely basis; the previously
announced investigations by the SEC and the Department of Justice; compliance with applicable environmental laws and
regulations; product liability claims and other liabilities arising out of our business; and other factors, risks, uncertainties more
specifically set forth in our public filings with the SEC. Actual events or the actual future results of Terex may differ materially
from any forward looking statement due to those and other risks, uncertainties and significant factors. The forward-looking
statements speak only as of the date of this presentation. Terex expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement included in this presentation to reflect any changes in
expectations with regard thereto or any changes in events, conditions, or circumstances on which any such statement is
based.
Non-GAAP Measures: Terex from time to time refers to various non-GAAP (generally accepted accounting principles)
financial measures in this presentation. Terex believes that this information is useful to understanding its operating results
and the ongoing performance of its underlying businesses without the impact of special items.
2
3. Our Purpose
To improve the lives of people around the world
Our Mission
To delight construction, infrastructure, mining and other
customers with value added offerings that exceed their current and future needs
To achieve our mission we must attract the best people by creating a Terex culture
that is safe, exciting, creative, fun and embraces continuous improvement
Our Vision
Customer – to be the most responsive company in the industry as determined by
the customer
Team Member – to be the best place to work in the industry
as determined by our team members
Financial – to be the most profitable company in the industry as measured by
ROIC
3
5. Where We Are Today
TEREX is the 3rd largest manufacturer* of construction equipment
in the world…
$29.4
$16.4
$9.5 $8.6 $7.7 $6.7
$5.1 $5.0 $5.0 $4.5 $4.4 $3.8
Caterpillar (1) Volvo Hitachi (3) Sandvik (10) CNH Global (8) Deere (5) JCB (7) Doosan (6)
(4)
Komatsu (2) Terex Liebherr (7) Oshkosh (9)
(1) Represents total sales before Power Products and Financing and Insurance Services sales. (6) Represents 2007 Construction equipment sales of $1.5 billion based on exchange rate at
(2) Represents Komatsu’s Construction and Mining Products segment as of December 31, 2007. December 31, 2007 of KRW/USD 936.07 plus estimated 2007 Bobcat sales of $2.9 billion
Exchange rate of 111.445 as of Dec 31, 2007 (7) Estimated, as these are privately owned companies
(3) Exchange rate used as of December 31, 2007 of USD/JPY 111.445 JCB: 2007 revenue of GBP 2.25 billion converted at Dec 31, 2007 GBP/USD rate of 1.9870
(4) Represents Volvo’s Construction segment as of Dec 31, 2007 plus prorated annual sales of $864 Liebherr: 2006 Construction segment revenue of EUR 4.6 billion converted at a more current rate,
million acquired from Ingersoll Rand’s Roadbuilding business in May 2007 for the 4 months not owned using Dec 31, 2007 EUR/USD rate of 1.45983
in 2007 of approximately $300 million; Rate of USD/SEK 6.464 (8) Represents CNH Global’s Construction Equipment Segment
(5) Represents Deere’s Construction and Forestry segment as of January 31, 2008 (9) Includes Access sales of $2.54 billion for the year ended September 30, 2007 plus Commercial
(concrete mixer trucks, concrete plants and refuse trucks/systems) sales of $1.25 billion.
(10) Represents 2007 Mining & Construction sales converted at SEK/USD 6.46
*Based on last twelve months of available Construction Equipment Sales ($’s in Billions)
5
6. Terex Business Segments
Terex operates in five
business segments:
Slice 1
Slice 2
Aerial Work Platforms Slice 3
Slice 4
Construction
Cranes
Materials Processing &
Mining
Roadbuilding, Utility
Products and Other
$1,949
6
7. Product and Geographic Diversity
Balanced product line revenue …not dependent on any one region of
profile… the world
Sales by Segment
Sales by Geography - 2007
(Last 12 months thru Mar 31, 2008, $ in millions)
RBUO
Asia/
7%
AWP Australia
$666
USA
25% 14%
MP&M 30%
$2,377
23%
$2,261
Construction
Europe/Africa
Cranes 20% Middle East Other Americas
$1,949 48% 8%
25%
$2,366
Balance and diversity
7
8. Goals for 2010
GOAL 2007 What we must accomplish
$12.0B in Sales $9.1B Implies 9.5% CAGR
12% Operating Margin 10.5% Execute on supply chain
management, pricing process
discipline & lean initiatives
15% W.C. to Sales 18.5% Optimize use of assets,
particularly inventory
A
“12 by 12 in ’10” A
is our medium term stretch goal
8
9. Focus on AWP Segment
Boom lifts
Scissor lifts
Telehandlers
Light construction products
A
a
9
10. Focus on AWP Segment
Four key messages about AWP today…
Aerial work platform category continues to be a secular growth
story – despite short term economic concerns
Achieving our growth ambition requires globalizing the business
Significant opportunity to extend the value proposition beyond
products
Lean has long been at the core of our success…and we are
“upping” the ante
10
11. Secular Growth Story
Favorable trends driving AWP growth…
Global infrastructure growth creating unprecedented
demand
Rising cost of labor and drive for productivity
Increasing focus on worker safety
Construction, maintenance and specialty applications
Ease of access to work spaces at height
Strong profit contributor to channel partners
Developing markets increasingly adopting aerial products
A
A
Fundamentals likely to exist for foreseeable future
11
12. Global Product Line Expansion
Fundamentals are driving global acceptance…
2007
Sales by Geography - 2002 Future Goal
Asia/
Asia/
Australia
Australia
8%
5% Americas
Asia/
EMEA
33%
Australia
27%
EMEA Americas 33%
35%
Americas 57%
68%
EMEA
33%
Value proposition of safety and productivity
A
translates around the world A
12
13. Terex AWP 2008 Demand Forecast
Dynamics
Market Demand
• Big boom demand is strong
North America +/- Flat
• Scissors solid, telehandlers weak
• Rental houses tightly managing cap ex
Latin America Strong • Small market but growing
• Work at height regulations in Brazil
Europe, ME, Strong • Certain Western Europe markets softening,
Africa and Russia but most markets remain strong
• Middle East continues to be white hot
• Continued emergence of Eastern Europe
and Russia
Asia Pacific Weak • Australia off to a very slow start due to
channel consolidation and January flooding
• Asian markets growing, shipbuilding
strong, rental channel developing
13
14. What’s Different from “Last Time”
Aerial market dynamics have changed in this decade…
2000 – 2002 2008
Significantly fewer manufacturers
25+ manufacturers
Some rental channel consolidation
Little rental channel consolidation
Growing global demand for aerials
Largely a U.S. market
Older fleet age on average
Younger fleet age on average
Broadening application profile for
Narrow application usage
aerials
Weak rental house fleet
Much stronger management teams
management combined with readily
combined with sophisticated fleet
available capital for rapid fleet
management that drives purchasing
expansion
discipline
A
Industry is structurally more sound A
14
15. AWP Strategy
Three elements of our strategy…
Strengthen Maximize Extend
Extend
Maximize
High Growth,
product
revenue and
Strengthen
High Margin
offering
profit from
and globalize
Contributor to
beyond
our installed
our business
12 x 12 x ‘10
aerials
base
Aligned around a clear strategy
15
16. AWP Manufacturing 2010
From a U.S. exporter…
Local 50% local
production production
30% local
production
• Closer to the customer
Import • Shorten lead times
• Reduce working capital
A
To a global manufacturer A
16
17. Services
Recent growth has created a large installed base of
equipment…
• Equipment must be maintained to
Installed Base
ensure safety and “curb appeal”
• Finding, training and retaining
technicians is increasingly
challenging for customers
• Customers seeking refurbishment
~ 10X Increase solutions
in 10 Years - N.A. acquisition of Phoenix
Equipment
• Global planning underway
1997 1999 2001 2003 2005 2007
Big service opportunity
17
18. Extend Beyond Aerials
AWP products represent 23% of rental customer
capital expenditures…..
Cross Selling Opportunities
• Utility trucks
• Backhoe loaders
• Compact track loaders
Current AWP
• And more …
Other Products
Compact
Equipment
Big Dirt
Presenting one face to the customer to more
deeply penetrate the rental channel
18
19. Taking Lean Beyond The Factory Floor
Lean principles drive better results…..
Lean with Customers
for deeper
relationships
Lean with Suppliers Lean in Manufacturing Lean for
for better cost for lower costs and Administrative Processes
and quality better working capital delivers better efficiency
More applications of
Lean inside and out!
19
20. Summary – AWP Segment
• AWP is, and will continue to be, a growth engine for Terex
• We are actively putting the pieces in place to globalize our
business, with more to come
• As customer needs change, we believe that creates the
potential to support them with downstream services
• Lean is a “way of life” at AWP, and we believe we can
extend to customers and suppliers
20