WESTPORT, Conn.--(BUSINESS WIRE)--Terex Corporation (NYSE: TEX) today announced that it has increased the size of the revolving credit facility under its Credit Agreement from $450 million to $600 million.

John Sheehan, Terex Senior Vice President and Chief Financial Officer said, “Today’s increase in availability of our Revolving Credit Facility makes our strong capital structure even stronger. Over the last 15 months the execution of our Disciplined Capital Allocation Strategy has resulted in Terex exceeding our Free Cash Flow expectations, providing capital to reinvest back into our businesses and return capital to shareholders. We remain fully committed to our Disciplined Capital Allocation Strategy, including achieving our 2020 targets of Free Cash Flow in excess of 100% of Net Income and average Leverage through our economic cycle of 2.5x. We look forward to continuing to use our strong capital structure and liquidity to drive value for our shareholders. Finally, we are pleased with the support demonstrated by our bank group in providing us with additional liquidity to efficiently manage our business.”

About Terex:

Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on investment. The Company reports in three business segments: Aerial Work Platforms, Cranes, and Materials Processing. Terex delivers lifecycle solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. Terex uses its website (www.terex.com) and its Facebook page (www.facebook.com/TerexCorporation) to make information available to its investors and the market.