Terex Corporation announced recently that it received full production approval from the United States Marine Corp for 569 TX5 1-19M material handlers. The TX5 1-19M is Terex’s light capability rough terrain forklift. The order, including spare parts and options, is estimated at $30 million with delivery of the first units scheduled for the first quarter of 2002 with completion by year-end.

"We are very pleased that Terex has received production approval for this important contract," said Ronald M. DeFeo, Terex’s chairman and CEO. "This is a significant step for Terex with the U.S. Military and our people have worked very hard over the last eighteen months designing and testing the TX51-19M to meet the high standards of the United States Marine Corp. We believe our successful execution of this order and the performance of our equipment under demanding conditions will lead to further opportunities with the military in the future."

Ernie Verebelyi, president, Terex Americas, added, "This order also comes at an important time given the uncertain environment we are currently operating in and will provide us some visibility in production planning for our material handling business in 2002."