Terex CEO To “Fix, Merge or Sell” Roadbuilding Unit

 (CHICAGO, Illinois)  -- The top executive at Terex Corp (TEX.N) said on Monday the company's construction and roadbuilding units were under review for possible divestiture as it focuses on generating cash and positioning itself for life after the current downturn.
Speaking at the Reuters Manufacturing Summit in Chicago, Ron DeFeo, Terex's chairman and chief executive, said "my job over the next nine months is to fix, merge or sell" those two units.
Terex, based in Westport, Connecticut, also makes aerial work platforms, cranes, materials processing and mining equipment, and utility vehicles.
DeFeo also said that Terex, which has already announced 5,000 job cuts, might have to eliminate more jobs. He said it was still "hard to determine what the year 2009 would be like."
DeFeo expressed optimism that Terex's negotiations with lenders to suspend or modify covenants would be "resolved reasonably quickly."