Genie Industries Announces Plans For Global Expansion; To Establish Manufacturing Plant In China

REDMOND, WASH. (April 14, 2008) – As part of a plan to expand globally, Genie Industries, a leading manufacturer of aerial work platforms and part of Terex Corporation’s (NYSE:TEX), Aerial Work Platforms (AWP) segment, has selected a new manufacturing site in China. This announcement follows recent news that Terex AWP has begun manufacturing Genie branded scissor lifts in Coventry, England, along with aerial booms and telehandlers in Perugia, Italy.

“In 2007, a large percentage of our sales came from outside of North America,” said Tim Ford, President, Terex AWP. “Our markets around the world are growing and we want to provide them with world class products, designed and produced locally, to their local specifications. Manufacturing globally will shorten lead times for all customers, as the addition of this new plant will also free up some of our current capacity to support customers in other regions of the world more effectively.”

Tim Ford, President of Terex Aerial Work Platforms, shakes hands with Mr. Vincent Dai, Vice Director of Changzhou National Hi-Tech District (CND) at the official signing ceremony of the new Changzhou Terex manufacturing facility.

Genie chose a business park in Changzhou, China, a few hours northwest of Shanghai to build its production facility, and will break ground in the second quarter of this year. Initial production will focus on preparing a line of personnel lifts, but over time a full range of aerial work platform products is expected to be produced from this facility. In addition to Genie products, the park in Changzhou was chosen for its ability to be enlarged as part of a future Terex Corporation manufacturing campus.

“The Asia market in general, and the China market specifically, is learning about the importance of the lift product category,” said Ford. “Aerial work platforms are increasingly becoming more widely accepted as a safe option for people who work in high places.”

Genie Industries, part of the Terex AWP business unit, established a sales and distribution office in China 10 years ago, and since has became known for providing quality products and outstanding customer support. Aerial work platforms have gained popularity in many industries in China, including shipyards, airports, hotels, factories and others.