Terex Corporation is an American worldwide manufacturer of lifting and material-handling plant for a variety of industries including construction, infrastructure, quarrying, recycling, energy, mining, shipping, transportation, refining and utilities. The company's major business segments include aerial work platforms, construction cranes, bulk-material hauling machines, road-paving machines, and container-port cranes. Corporate history General Motors The Terex name has its origin as a division of General Motors. Due to a 1968 Justice Department ruling, General Motors was required to stop manufacturing and selling off-highway trucks in the United States for four years and divest the Euclid brand name. GM coined the "Terex" name in 1968 from the Latin words "terra" (earth) and "rex" (king) for its construction equipment products and trucks not covered by the ruling. IBH Holding General Motors sold the Terex division to German firm IBH Holding AG led by Horst-Dieter Esch de in 1980. After IBH Holding AG declared bankruptcy in 1983, ownership of Terex returned to General Motors and was organized as Terex Equipment Limited (Scotland), Terex do Brasil Limitada (Belo Horizonte, Brazil), and Terex USA (Hudson, Ohio). Randolph W. Lenz American entrepreneur Randolph W. Lenz purchased Terex USA from GM in 1986, then exercised an option to purchase Terex Equipment Limited in 1987. In 1988, Lenz merged his primary construction equipment asset, Northwest Engineering Company, into Terex Corporation, making Terex Corporation the parent corporation. The construction assets acquired by Lenz throughout the 1980s including Northwest Engineering Company, Unit Rig (brands Dart Truck Company), Terex Equipment Limited, and Koehring Cranes and Excavators, Inc. all became assets of Terex Corporation. Acquisitions and sales Due to a strategy of acquisitions, Terex Corporation has owned more than 50 different brands. The period of 1996–2003 was characterized by a large number of acquisitions under president and CEO Ron DeFeo, with the group buying into multiple new markets and expanding its presence in existing markets. In 1999, Terex acquired Powerscreen PLC, a Northern Ireland-based group of companies. These companies included Powerscreen International, Finlay Hydrascreens, Moffet Mountie, BL Pegson, as well as several others. Powerscreen and newly named Terex Finlay produce mobile crushing, screening, washing and recycling equipment. Their products are used in industries such as construction, quarrying, mining, landfill, aggregates, topsoil, compost/wood chips, asphalt, rock crushing, and recycling. Later in 1999, Terex went on to acquire Cedarapids from Raytheon. This provided road-building equipment to match compaction acquisitions within the earlier deal such as Powerscreen