Terex (TEX) announces new $150 million buyback plan

Terex Corporation (NYSE: TEX) today announced that its Board of Directors authorized a new share repurchase program of up to $150 million. The new authorization is in addition to the share repurchase program announced in July 2018, under which the Company has approximately $43 million remaining.

John L. Garrison, Terex Chairman and Chief Executive Officer, stated, "We are pleased to expand our share repurchase program based on the strength of our balance sheet and expectations for future free cash flow generation as outlined at our recent investor day. The new $150 million share repurchase authorization is consistent with our disciplined capital allocation strategy and demonstrates our continued commitment to offset dilution and opportunistically return capital to shareholders."

The timing of the share repurchase program will be based on available liquidity, cash flows and general market conditions. The repurchase program may be executed through various methods, including open market purchases. This program has no termination date, may be suspended or discontinued at any time and does not obligate the Company to acquire any amount of common stock.

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