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Terex Cedarapids

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Terex Cedarapids, formerly Cedarapids, is an Iowa-based manufacturer of road building equipment.

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[edit] History

Cedarapids’ roots go back to 1923, when founders Howard Hall and Guy Franzee began operations in Cedar Rapids, Iowa. The pair wanted to capitalize on a boom in road construction spawned by the “Vote for good roads” political movement of the 1920’s. They purchased a local machinery company, changed their name to the Iowa Manufacturing Company, and began to manufacture crushers, screens, and conveyors.[1]

Early road construction was a cumbersome process requiring many pieces of machinery. Guy Franzee led a team to develop the “world’s first truly portable aggregate plant[2]. This innovation allowed stone to be crushed right at the construction site; replacing several pieces of equipment, saving time, and money. Iowa Manufacturing also produced one of the world’s first hot mix asphalt plants in 1929.[3]

During World War Two, Iowa Manufacturing provided 80 percent of the crushing needs of the American military. Through this effort the company became well-known, and after the war looked to expand their product line. In 1950 they acquired New Holland Equipment, a manufacturer of impact crushers. In 1956 they began to offer asphalt pavers.[4]

[edit] Ownership Changes and Acquisitions

In 1972, Iowa Manufacturing was sold to Raytheon Co., an American weapons manufacturer. Four years later, Iowa Manufacturing acquired ElJay, a manufacturer of screens and crushers. In 1985, the Iowa Manufacturing Company's name was changed to Cedarapids. In 1989, Cedarapids purchased Standard Havens, a manufacturer of hot mix asphalt plants. Ten years later, Cedarapids was acquired for US$170million by the large industrial conglomerate Terex, and took on the company’s current name, Terex Cedarapids.[5]

[edit] The Company Today

In 2009, Terex announced that it will close Cedarapids’ Iowa-based manufacturing plant by mid-2010 in response to the global financial crisis. One hundred and seventy employees will be affected, with only sales, engineering, and service staff remaining. Cedarapids equipment will continue to be manufactured at Terex’s other facilities. When Terex took control of Cedarapids in 1999, the company had 1,100 employees. Once the plant closes, only 50 staff will remain.[6]

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[edit] References

  1. About Terex Cedarapids. Cedarapids.com [October 7, 2009].
  2. About Terex Cedarapids. Cedarapids.com [October 7, 2009].
  3. About Terex Cedarapids. Cedarapids.com [October 7, 2009].
  4. About Terex Cedarapids. Cedarapids.com [October 7, 2009].
  5. Terex Cedarapids closing stuns community. GazetteOnline.com [October 7, 2009].
  6. Terex to Move Manufacturing from Cedar Rapids Plant. Reuters.com [October 7, 2009].

[edit] External Links