China is working feverishly to build infrastructure and, at the same time, the Chinese are building multi-story buildings and skyscrapers in most major cities across the country. There are cranes in use in almost every major Chinese city and the demand for cranes should remain strong as China continues its efforts to modernize and show that it can be an equal in dealings with developed Western nations.
Although both TEX and MTW are down at the moment, I see this as more a result of the perception of a "global slowdown" than a reflection of realities on the ground in China and other emerging countries.
Terex is positioned to take advantage of growing infrastructure and commodity demand in Emerging Markets throughout the world. The construction equipment manufacturer is adding two Chinese manufacturing plans in 2008.
Terex's backlog was at a healthy $4.2 billion at the start of 2008. The demand for crane products (its biggest backlog) appears to be having another strong year. Terex's competitor, Manitowoc Company (MTW) sees crane sales rising 20% this year.