TEREX Corporation Authorizes New Share Repurchase Program

May 30, 2017 - Terex Corporation (NYSE:TEX) today announced that its Board of Directors authorized a new share repurchase program of up to $280 million. The Company completed its previous share repurchase program earlier in May 2017.

John L. Garrison, Terex President and Chief Executive Officer, stated, “During our Investor Presentation in December 2016 we committed to pursuing a disciplined capital allocation strategy that included the efficient returns of capital to shareholders through share repurchases of $1 billion to $1.5 billion. Today’s new $280 million share repurchase authorization, when combined with the $420 million of shares already repurchased in 2017 totals $700 million, demonstrating our commitment to executing this strategy. In conjunction with our Focus, Simplify and Execute To Win strategy, our Disciplined Capital Allocation Strategy has been and will continue to create long term value for our shareholders.”

The timing of the share repurchase program will be based on available liquidity, cash flows and general market conditions. The repurchase program may be executed through various methods, including open market purchases.