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.
In 2002 the company became one of the three leaders in the creation and sales of tower cranes.
In 2010, the company generated $ 4.42 billion in revenue, making it more powerful in the business arena.
In 2011, the firm entered into an agreement with the Russian company GAZ Group on the construction of a joint plant for the production of construction and road-building equipment. In the same period, the subsidiary company RM-Terex was created (together with the Russian company Russian Machines), the main focus of which was the production of various types of excavators, loaders, motor graders and unique tracked snow and swamp vehicles. The partnership agreement stipulates that the new company sells products in the Russian Federation and the CIS countries.
At the moment, Terex is a large corporation with 50 factories in the USA, Europe, Australia, Asia and Russia. 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.