WESTPORT, Conn. -- Westport Sunrise Rotary recently welcomed Ron De Feo, CEO of Westport-based Terex, as he gave a business-inspired speech to the group.
Terex, a global manufacturer of capital equipment used for earth-moving, lifting and material-handling, is one of Westport’s largest employers. De Feo "decried the failure of the U.S. to invest in infrastructure" in his speech at Westport Sunrise Rotary, according to a press release.
Also, 90 percent of the results from Terex today come from investing $40 billion in over 40 strategic acquisitions during the past 22 years, he said. The company is “pretty positive about the current economic environment,” which offers “slow but progressive growth," he said.
De Feo also spoke about the lack of infrastructure investment and that such investments were “relevant for where we live, for our company and for our country,” and equated them with “economic prosperity," according to the release.
"Connecticut’s weak infrastructure" is "one of the reasons Terex does not manufacture here," De Feo said in the release. He also said a failure to invest makes it difficult to return our state’s economy to its manufacturing roots, and instead makes it a “service economy” state.
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