In 2011, we recaptured growth in our core businesses with organic growth of 27% for the full year and overall net sales growth of 48% inclusive of acquisitions. However, for Terex in 2012 emphasis is clearly on margin improvement, cash generation and the integration of Demag Cranes AG is much less of our growth.Now, I'd like to discuss the market environment by segment on Page 4. The Aerial Work Platform business continues to recover with North America leading the way. Business with the largest rental companies is strong and we're now seeing independent and smaller regional players buying again. Our European AWP business has been a little bit better than we expected. In general we've been successful implementing a 4.5% price increase effective with shipments in January. The overall backlog remains strong, double last year's level.
Terex's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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