16 March 2011, 00:00
WESTPORT, CT, March 16, 2011 -- Terex Corporation (NYSE: TEX) today issued the following statement in response to the press release from the United Against Nuclear Iran (“UANI”) organization calling on Terex Corporation (“Terex”) to end its business in Iran, which falsely accuses Terex of continuing to sell cranes to Iranian regime:
Terex believes that a company's conduct and its reputation are among its most valuable assets, and we strive to be good national and global citizens. As a global company, Terex also respects the human rights of all individuals around the world. In this regard, Terex Corporation shares many of the concerns of UANI relating to the Iranian regime. While Terex Corporation has always complied with U.S. laws, for some time now Terex has had an internal policy prohibiting all new business transactions in Iran for its all of its subsidiaries, even if the transaction would otherwise be permissible under U.S. law or the laws of other countries. We regret that the UANI organization did not check its facts with Terex before targeting Terex in its New Cranes Campaign. We call on UANI to immediately remove Terex from its New Cranes Campaign, rescind its related press release and open letter posted on its website, and correct its inaccurate statements as to Terex.
Terex Corporation is a diversified global manufacturer operating in four business segments: Aerial Work Platforms, Construction, Cranes, and Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, refining, energy and utility industries. Terex offers a complete line of financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. Terex uses its website to make information available to its investors and the market at www.terex.com.