Worldwide demand for scrap steel sees sales surge 10% at Terex MP
US engineering giant Terex, which employs 1,000 people in Northern Ireland, has reported a strong start to 2019 with global sales rising 2% to $1.1bn (£841m) for the first quarter.
Sales within the group's materials handling division, which runs the large machinery manufacturing sites in Omagh and Dungannon, increased 10% to $346m (£265m) on the same three months last year.
Kieran Hegarty, president of Terex Materials Processing, said its good start to 2019 was down to strong global demand driven by construction activity, aggregate consumption and demand for scrap steel around the world.
He said it kept up the demand for its crushing and screening products, material handlers and pick and carry equipment.
The pipeline of orders for Terex's materials handling machines remains strong.
Terex MP said its backlog rose 11% to $499m (£382m) in the first quarter compared with last year's performance. Mr Hegarty said his divison expects to deliver "excellent" results again in 2019.
"We expect strong results to continue, fuelled by innovations that will excite our existing customers and geographic expansion that will enable us to serve more customers globally," he said.
Among the new innovations being developed by Terex is OMNI, a tablet-based control system, which harnesses internet connectivity.
The Terex MP president claimed it "revolutionises" the on site crushing and screening process.
"This will improve safety and productivity and further differentiate our MP product lines.
"Geographically, we're seeing increasing demand for our products in regions such as India - so we are expanding our Hosur facility to better serve customers throughout the region."
Outside of Tyrone, Terex's operation includes 200 people in Ballymoney and around 170 in Lurgan.
Last month the US manufacturer announced plans to open a new £12m factory at Campsie with up to 100 jobs being created.
Similar to its well-established operations in Co Tyrone, the site will manufacture waste management and recycling products, as well as mobile conveyors.
Terex chairman and chief executive John L Garrison said: "Overall we had a strong first quarter. We continue to invest in our 'execute to win' business system, which remains focused on enhancing our capabilities in commercial excellence, lifecycle solutions and strategic sourcing and we are seeing benefits from each of these areas in how we are executing for our customers as well as our financial performance."