Terex forms financial services unit
Terex announced Friday it has formed a financial services unit to help customers acquire its equipment. Terex Financial Services will work with GE Vendor Financial Services to provide financial products and services. Ron DeFeo, Terex’s chairman and chief executive, said the new unit will allow the company to participate in the financing of its products in North America with minimal expense and without adding debt to Terex’s balance sheet.
CNH Global to set up equipment headquarters in Racine, Wis.
CNH Global N.V. will set up its North American farm and construction equipment headquarters in Racine, Wis., under a recently announced reorganization plan. The Racine office was the headquarters of Case IH until New Holland N.V. acquired it in 1999. The office has been headquarters for the Case IH brand of tractors and other farm equipment since the acquisition.
Ammann America compaction division moves to Dallas
Ammann America relocated its compaction division distribution headquarters for North America from Jacksonville, Fla., to Farmers Branch, Texas, a suburb north of Dallas, on Dec. 23. The square footage of the new location is triple that of the previous headquarters. Gil Herr, president of Ammann America, said Dallas is centrally located and will position the company for expansion in the United States and into Central America.
PEOPLE ON THE MOVE
Terex has announced that Marvin Rosenberg retired from its board of directors Dec. 31. Rosenberg had been a Terex board member since 1992 and served as Terex’s senior vice president, secretary and general counsel from 1994 until his retirement as an active employee at the end of 1997. Prior to that, he was secretary and general counsel of Terex from 1987 through 1994.
Ammann America has appointed Udo Boersch vice president of sales and marketing. His responsibilities will include managing the expansion of the company’s distribution network. Boersch has more than 25 years of experience in the compaction industry. The company also named Bill Stenberg vice president of product support. He has 20 years of experience in the compaction business and will build the parts and service capabilities for the company’s product support. Ammann America appointed a new parts manager as well. Mike Higgins, who has 20 years of experience in the compaction industry, will handle inventory control.