Terex To Sell German Construction Biz To Yanmar

21 June 2016

On the heels of its recent announcement that it would no longer discuss a purchase by Zoomlion and is selling its Material Handling and Port Solutions (MHPS) segment to Finland’s Konecranes, Terex Corp. has announced that it would sell its German compact construction business to Yanmar Holdings Co. Ltd. for cash proceeds of approximately $60 million.

The German compact construction business manufactures and sells midi and mini excavators, wheeled excavators and compact wheel loaders. Included in the transaction is the manufacturing facility located in Crailsheim, Germany, and the parts distribution center located in Rothenburg, Germany, Terex said.

The sale, which is subject to government regulatory approvals and other customary closing conditions, is targeted to close in the second half of 2016.

“We are pleased to enter into this agreement with Yanmar, as they represent a strong strategic buyer for this business who values our quality designs, global team members and distribution partners,” commented John L. Garrison , Terex president and CEO. “For Terex, the sale of the German compact construction business is another step in our strategy to focus our portfolio on those product categories where Terex has a significant presence in the market and that can provide the greatest returns for our shareholders.”

STAY CONNECTED



Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

POWER SOURCING GUIDE

The trusted reference and buyer’s guide for 83 years

The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.

Visit Now

CONNECT WITH THE TEAM
Becky Schultz Vice President of Content Tel: +1 480 408 9774 E-mail: [email protected]
Julian Buckley Editor Tel: +44 (0) 1892 784088 E-mail: [email protected]
Chad Elmore Managing Editor Tel: +1 262 754 4114 E-mail: [email protected]
Josh Kunz Power Progress Brand Manager Tel: +1 414 379 2672 E-mail: [email protected]
Roberta Prandi Power Progress International Brand Manager Tel: +39 334 6538183 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA