Terex, known today as one of the most successful manufacturers of equipment for the construction, mining and manufacturing industries, began its activities in 1933 in the United States under the name Euclid. The first dump trucks, developed under the leadership of the Armington brothers, were so successful that they attracted the attention of General Motors Corporation, which bought the company from them in 1953, and invested heavily in expanding the range. However, soon the government of the country, as punishment for the creation of a monopoly, forced to stop production for 4 years, and also to sell part of the company and the brand.
In 1970, the GM branch, which had lost its former name, received a new one - Terex. The company was quickly noted for its highly visible developments - for example, the world's first off-road tractor 1Z Trac-Truk or the largest truck at that time Terex 33-19 "Titan" with a carrying capacity of 370 tons.
In the early 1980s, a general downturn in the economy affected Terex as well. GM sold the firm to IBH in 1981, which soon went bankrupt, and Terex returned to its former owners. However, in 1986 Terex went bankrupt and was sold to Northwest Engineering. The new management actively expanded the scope of work and sales markets, and also joined other manufacturers of special equipment, and by the end of the 80s the company had grown several times, becoming a full-fledged corporation. In the 90s, a large-scale restructuring of Terex was launched, which allowed it to get out of debt, and in the 2000s it included a number of manufacturers of mobile cranes, concrete trucks, commercial and military SUVs and trucks.
At the moment, Terex is a large corporation with 50 factories in the USA, Europe, Australia, Asia. However, the company continues to rapidly strengthen its global position and in mid-2015 the management announced the merger of Terex and Konecranes (a manufacturer of lifting equipment, Finland), planned for 2016.