TEREX Reedrill

TEREX Unit Rig relocates headquarters office to Denison
By media release, photos by Allen Rich
Feb 2, 2006

Denison, Texas -- TEREX officials announced today they will be relocating their Unit Rig Mining Truck business headquarters from Tulsa, Oklahoma to Denison, Texas. The move will transfer 70 management and staff positions to the existing TEREX Reedrill facility, which is a sister company. The TEREX Reedrill facility is 244,000 sq. ft. and currently employs 212 team members.

"The TEREX Unit Rig team members are excited about the opportunities available to the business in Texas and we are looking forward to the upcoming move," said Sudhansu Kumar, General Manager. "We will be hiring many positions over the next several months and we are looking forward to expanding our talent base with quality people from the Denison area."

TEREX Unit Rig is a worldwide leader in the manufacture, sale and service of large mining trucks with payload capacity of up to 360 tons. TEREX Unit Rig and TEREX Reedrill share the same mining customer base. This rapidly expanding company's research indicates that the sharing of the Denison facility will provide increased business opportunities for both companies, improve customer satisfaction, as well as provide additional career growth opportunities for the team members of both businesses. Together the companies can focus resources to broaden their product offerings to common customers and distributors and strengthen its current distribution network by improving and leveraging their product offerings. Additionally, supplier synergies between the two companies can reduce the cost of goods sold and help keep pricing competitive in the markets.

"We look forward to finding new opportunities to grow our market share in both the truck and drill business," Mr. Kumar states.

Terex Corporation is a diversified global manufacturer with 2004 net sales of approximately $5 billion. Terex operates in five business segments: Terex Construction, Terex Cranes, Terex Aerial Work Platforms, Terex Materials Processing & Mining, and Terex Roadbuilding, Utility Products and Other. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, recycling, surface mining, shipping, transportation, refining, utility and maintenance industries.

TEREX Reedrill offers a wide selection of drilling equipment and tools for surface and underground mining, quarrying, construction, and utility applications. TEREX Reedrill's products include: jumbo drills, hydraulic-track drills, rotary drills, and auger drills, as well as a broad range of rock and auger drills.

Carol Brownlee, Human Resources Director for TEREX Reedrill adds, "TEREX Reedrill has been in the community for over 60 years and in its current location for 30 years. For the last seven years, we have aggressively restructured our business and our processes, positioning ourselves for the demands of an exciting future. Our manufacturing employee base has more than doubled since 2003 from 52 to 110 and we currently have 10 openings in manufacturing and six in administration."

TEREX Unit Rig General Manager Sudhansu Kumar (left) and Carol Brownlee, Human Resources Director for TEREX Reedrill, answer questions at the press conference in Denison Wednesday afternoon. This was the third major industrial development announced by Denison officials in the past year.

"On behalf of the city council, I want to take this opportunity to welcome TEREX and its employees to Denison," remarked Malone Williams, Denison City Councilman. It is a testimony to our pro-business environment that we are able to welcome another quality company with great job opportunities to our city. The recruitment of Terex is another example of the community efforts of which we are extremely proud."

"The efforts of city officials, the Denison Chamber of Commerce and the Denison Development Alliance board members and all of our superb staff members have once again been successful in bringing another major industry to Denison," stated DDA board member, Robert Sylvester. "Our team put together a very aggressive recruitment package because we are all confident that TEREX Unit Rig's relocation to Denison will be a major factor in their continued growth and prosperity."