Chinese to buy ailing manufacturers, Europlatform told

Chinese manufacturers are increasingly likely to start buying up struggling Western plant manufacturers, Tim Ford, president of Terex Aerial Work Platforms, told delegates at the Europlatform conference in Milan.

With new equipment sales down 85% or more in some categories, he said there is not enough demand in the foreseeable future to sustain the current number of manufacturers and brands. "It seems increasingly likely to me that cash-strapped Western manufacturers will be forced out of business or will be purchased by cash-flush Chinese competitors looking to establish a foothold in Europe or the US," he said.

"We are likely to see a shakeout among rental companies as well," Ford added. He said access rental companies have seen revenues fall between 25% and 33% over the past year and the outlook for near-term improvement was "not rosy".