Terex Corp. (TEX
) was the second largest contributor to the portfolio over the past year, rising over 120 percent and adding 101 basis points of return to the portfolio. Despite a challenging economic environment, the heavy construction manufacturer has gained market share, and strong cash flow should offer the company more flexibility to reduce debt and improve its balance sheet. We believe that even a slight improvement in the global economy could have a significant impact on the shares of Terex.
From Keeley Funds’ 2012 annual report.