This document contains the presentation from Tim Ford, President of Terex Aerial Work Platforms, at the JPMorgan Basics & Industrials Conference on June 4, 2008. Ford discusses the strong sales growth and global expansion of Terex AWP over the past decade. He outlines the secular growth drivers of the aerial work platform industry and Terex AWP's strategy to further strengthen and globalize its business, maximize revenue and profit from its large installed base, and extend its product offerings beyond aerials. Ford also highlights opportunities to apply lean principles more broadly across the value chain through partnerships with customers and suppliers.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.
terex 08_06_04_JP_Morgan_Conf
1. JPMorgan Basics & Industrials
Conference
Tim Ford
President, Terex Aerial Work Platforms
June 4, 2008
2. Forward Looking Statements
& Non-GAAP Measures
The following presentation contains forward-looking information based on the current expectations of Terex Corporation.
Because forward-looking statements involve risks and uncertainties, actual results could differ materially. Such risks and
uncertainties, many of which are beyond the control of Terex, include among others: our business is highly cyclical and weak
general economic conditions may affect the sales of its products and its financial results; our business is sensitive to
fluctuations in interest rates and government spending; the ability to successfully integrate acquired businesses; the retention
of key management personnel; our businesses are very competitive and may be affected by pricing, product initiatives and
other actions taken by competitors; the effects of changes in laws and regulations; our business is international in nature and
is subject to changes in exchange rates between currencies, as well as international politics; our continued access to capital
and ability to obtain parts and components from suppliers on a timely basis at competitive prices; the financial condition of
suppliers and customers, and their continued access to capital; our ability to timely manufacture and deliver products to
customers; possible work stoppages and other labor matters; our debt outstanding and the need to comply with restrictive
covenants contained in our debt agreements; our ability to maintain adequate disclosure controls and procedures, maintain
adequate internal controls over financial reporting and file its periodic reports with the SEC on a timely basis; the previously
announced investigations by the SEC and the Department of Justice; compliance with applicable environmental laws and
regulations; product liability claims and other liabilities arising out of our business; and other factors, risks, uncertainties more
specifically set forth in our public filings with the SEC. Actual events or the actual future results of Terex may differ materially
from any forward looking statement due to those and other risks, uncertainties and significant factors. The forward-looking
statements speak only as of the date of this presentation. Terex expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement included in this presentation to reflect any changes in
expectations with regard thereto or any changes in events, conditions, or circumstances on which any such statement is
based.
Non-GAAP Measures: Terex from time to time refers to various non-GAAP (generally accepted accounting principles)
financial measures in this presentation. Terex believes that this information is useful to understanding its operating results
and the ongoing performance of its underlying businesses without the impact of special items.
2
3. Our Purpose
To improve the lives of people around the world
Our Mission
To delight construction, infrastructure, mining and other
customers with value added offerings that exceed their current and future needs
To achieve our mission we must attract the best people by creating a Terex culture
that is safe, exciting, creative, fun and embraces continuous improvement
Our Vision
Customer – to be the most responsive company in the industry as determined by
the customer
Team Member – to be the best place to work in the industry
as determined by our team members
Financial – to be the most profitable company in the industry as measured by
ROIC
3
5. Where We Are Today
TEREX is the 3rd largest manufacturer* of construction equipment
in the world…
$29.4
$16.4
$9.5 $8.6 $7.7 $6.7
$5.1 $5.0 $5.0 $4.5 $4.4 $3.8
Caterpillar (1) Volvo Hitachi (3) Sandvik (10) CNH Global (8) Deere (5) JCB (7) Doosan (6)
(4)
Komatsu (2) Terex Liebherr (7) Oshkosh (9)
(1) Represents total sales before Power Products and Financing and Insurance Services sales. (6) Represents 2007 Construction equipment sales of $1.5 billion based on exchange rate at
(2) Represents Komatsu’s Construction and Mining Products segment as of December 31, 2007. December 31, 2007 of KRW/USD 936.07 plus estimated 2007 Bobcat sales of $2.9 billion
Exchange rate of 111.445 as of Dec 31, 2007 (7) Estimated, as these are privately owned companies
(3) Exchange rate used as of December 31, 2007 of USD/JPY 111.445 JCB: 2007 revenue of GBP 2.25 billion converted at Dec 31, 2007 GBP/USD rate of 1.9870
(4) Represents Volvo’s Construction segment as of Dec 31, 2007 plus prorated annual sales of $864 Liebherr: 2006 Construction segment revenue of EUR 4.6 billion converted at a more current rate,
million acquired from Ingersoll Rand’s Roadbuilding business in May 2007 for the 4 months not owned using Dec 31, 2007 EUR/USD rate of 1.45983
in 2007 of approximately $300 million; Rate of USD/SEK 6.464 (8) Represents CNH Global’s Construction Equipment Segment
(5) Represents Deere’s Construction and Forestry segment as of January 31, 2008 (9) Includes Access sales of $2.54 billion for the year ended September 30, 2007 plus Commercial
(concrete mixer trucks, concrete plants and refuse trucks/systems) sales of $1.25 billion.
(10) Represents 2007 Mining & Construction sales converted at SEK/USD 6.46
*Based on last twelve months of available Construction Equipment Sales ($’s in Billions)
5
6. Terex Business Segments
Terex operates in five
business segments:
Slice 1
Slice 2
Aerial Work Platforms Slice 3
Slice 4
Construction
Cranes
Materials Processing &
Mining
Roadbuilding, Utility
Products and Other
$1,949
6
7. Product and Geographic Diversity
Balanced product line revenue …not dependent on any one region of
profile… the world
Sales by Segment
Sales by Geography - 2007
(Last 12 months thru Mar 31, 2008, $ in millions)
RBUO
Asia/
7%
AWP Australia
$666
USA
25% 14%
MP&M 30%
$2,377
23%
$2,261
Construction
Europe/Africa
Cranes 20% Middle East Other Americas
$1,949 48% 8%
25%
$2,366
Balance and diversity
7
8. Goals for 2010
GOAL 2007 What we must accomplish
$12.0B in Sales $9.1B Implies 9.5% CAGR
12% Operating Margin 10.5% Execute on supply chain
management, pricing process
discipline & lean initiatives
15% W.C. to Sales 18.5% Optimize use of assets,
particularly inventory
A
“12 by 12 in ’10” A
is our medium term stretch goal
8
9. Focus on AWP Segment
Boom lifts
Scissor lifts
Telehandlers
Light construction products
A
a
9
10. Focus on AWP Segment
Four key messages about AWP today…
Aerial work platform category continues to be a secular growth
story – despite short term economic concerns
Achieving our growth ambition requires globalizing the business
Significant opportunity to extend the value proposition beyond
products
Lean has long been at the core of our success…and we are
“upping” the ante
10
11. Secular Growth Story
Favorable trends driving AWP growth…
Global infrastructure growth creating unprecedented
demand
Rising cost of labor and drive for productivity
Increasing focus on worker safety
Construction, maintenance and specialty applications
Ease of access to work spaces at height
Strong profit contributor to channel partners
Developing markets increasingly adopting aerial products
A
A
Fundamentals likely to exist for foreseeable future
11
12. Global Product Line Expansion
Fundamentals are driving global acceptance…
2007
Sales by Geography - 2002 Future Goal
Asia/
Asia/
Australia
Australia
8%
5% Americas
Asia/
EMEA
33%
Australia
27%
EMEA Americas 33%
35%
Americas 57%
68%
EMEA
33%
Value proposition of safety and productivity
A
translates around the world A
12
13. Terex AWP 2008 Demand Forecast
Dynamics
Market Demand
• Big boom demand is strong
North America +/- Flat
• Scissors solid, telehandlers weak
• Rental houses tightly managing cap ex
Latin America Strong • Small market but growing
• Work at height regulations in Brazil
Europe, ME, Strong • Certain Western Europe markets softening,
Africa and Russia but most markets remain strong
• Middle East continues to be white hot
• Continued emergence of Eastern Europe
and Russia
Asia Pacific Weak • Australia off to a very slow start due to
channel consolidation and January flooding
• Asian markets growing, shipbuilding
strong, rental channel developing
13
14. What’s Different from “Last Time”
Aerial market dynamics have changed in this decade…
2000 – 2002 2008
Significantly fewer manufacturers
25+ manufacturers
Some rental channel consolidation
Little rental channel consolidation
Growing global demand for aerials
Largely a U.S. market
Older fleet age on average
Younger fleet age on average
Broadening application profile for
Narrow application usage
aerials
Weak rental house fleet
Much stronger management teams
management combined with readily
combined with sophisticated fleet
available capital for rapid fleet
management that drives purchasing
expansion
discipline
A
Industry is structurally more sound A
14
15. AWP Strategy
Three elements of our strategy…
Strengthen Maximize Extend
Extend
Maximize
High Growth,
product
revenue and
Strengthen
High Margin
offering
profit from
and globalize
Contributor to
beyond
our installed
our business
12 x 12 x ‘10
aerials
base
Aligned around a clear strategy
15
16. AWP Manufacturing 2010
From a U.S. exporter…
Local 50% local
production production
30% local
production
• Closer to the customer
Import • Shorten lead times
• Reduce working capital
A
To a global manufacturer A
16
17. Services
Recent growth has created a large installed base of
equipment…
• Equipment must be maintained to
Installed Base
ensure safety and “curb appeal”
• Finding, training and retaining
technicians is increasingly
challenging for customers
• Customers seeking refurbishment
~ 10X Increase solutions
in 10 Years - N.A. acquisition of Phoenix
Equipment
• Global planning underway
1997 1999 2001 2003 2005 2007
Big service opportunity
17
18. Extend Beyond Aerials
AWP products represent 23% of rental customer
capital expenditures…..
Cross Selling Opportunities
• Utility trucks
• Backhoe loaders
• Compact track loaders
Current AWP
• And more …
Other Products
Compact
Equipment
Big Dirt
Presenting one face to the customer to more
deeply penetrate the rental channel
18
19. Taking Lean Beyond The Factory Floor
Lean principles drive better results…..
Lean with Customers
for deeper
relationships
Lean with Suppliers Lean in Manufacturing Lean for
for better cost for lower costs and Administrative Processes
and quality better working capital delivers better efficiency
More applications of
Lean inside and out!
19
20. Summary – AWP Segment
• AWP is, and will continue to be, a growth engine for Terex
• We are actively putting the pieces in place to globalize our
business, with more to come
• As customer needs change, we believe that creates the
potential to support them with downstream services
• Lean is a “way of life” at AWP, and we believe we can
extend to customers and suppliers
20