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Terex's CEO Discusses Q4 2011 Results - Earnings Call Transcript

For our new business the material handling and port solutions segment, the market environment is generally improving, but perhaps a bit softer than was previously thought particularly because of Europe. We do see improving trends in North America, India and the Middle East for port equipment and services. The domination in profit and loss transfer agreement that process continues in Germany. The vote at the Annual Shareholders Meeting on this will be in March.

Lastly, our material processing business continues to supply large capacity machines worldwide most notably to Australia and South Africa, as small mining customers continue to look to our largest mobile equipment as a solutions provider for some of their needs. Our dealers are a bit more optimistic in general than a few months ago; finally we're excited about the many new products that this business will be introducing in 2012.

Now, I'd like to turn it over to Phil to cover specific financial results and then I'll provide a more detailed review of our expectations for 2012 before taking your questions. Phil?

Phillip Widman

Thank you, Ron and good morning. Over the next several slides I'll cover the fourth quarter and full year performance with the continuing operations of the company. Please turn to Page 5 to discuss the fourth quarter. Our business continued to improve during the quarter reflecting the impact of restructuring and generally improving market conditions.

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