The principal driver of the sequential decrease in backlog was a decrease in AWP’s backlog primarily resulting from the seasonal ordering patterns of AWP customers as customers tend to place orders for delivery in time for the busier warmer months in North America. In addition, Construction and MP segment backlog decreased primarily due to weakness in Western European demand and, as a result, the Company is planning to take steps to realign production to match current demand levels. These decreases were partially offset by an increase in Cranes backlog primarily due to continued strong demand for rough terrain cranes in North America, the Middle East and Latin America, as well as the return of demand for all-terrain and crawler products where the Company has largely firmed up production for these products through the back half of the year.In MHPS, the port solutions business secured two large orders recently for major European port projects worth more than $200 million over the next several years. However, deliveries for these orders will take place beyond the standard 12 month backlog reporting period and therefore are not included in the reported figures.
Terex Announces Second Quarter 2012 Results
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