NEW YORK - Terex Corporation the maker of everything from Aerial Work Platforms to construction equipment to material mashers has announced a bond retirement today of $300 million notes outstanding due 2014. Ronald M. DeFeo, Chairman and CEO of Terex, commented “As I have recently indicated, Terex is taking a balanced approach to capital allocation in reviewing potential acquisitions and debt reduction opportunities. Our liquidity position allows us to pursue attractive bolt-on acquisitions while also improving our balance sheet and significantly reducing our interest expense."The move will lower Terex's already low debt load. The company expects to save $33 million a year on interest payments. The stock has taken off, instantly up 1.5% as investors are now wondering what other tricks the king has up their sleeve.
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