Terex Announces the Completion of the Sale of its German Compact Construction Equipment Business to Yanmar Holdings Co., Ltd.
October 04 2016 - 5:00AM
Business Wire
Terex Corporation (NYSE:TEX) announced that it has completed the
sale of its German compact construction business to Yanmar Holdings
Co., Ltd. for $60 million in cash. The German compact construction
business manufactures and sells midi/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.
“The completion of this transaction is another step in our
strategy to focus our portfolio on those businesses that can
consistently deliver returns in excess of our cost of capital,”
commented John L. Garrison, Terex President and Chief Executive
Officer. “Yanmar is a strong strategic buyer with the resources and
capability to develop and grow the acquired business for the
benefit of all stakeholders, including customers, distribution
partners and employees.”
Terex Corporation is a global manufacturer of lifting and
material processing products and services that delivers lifecycle
solutions to maximize customer return on investment. The
company reports in three business segments: Aerial Work Platforms,
Cranes, and Materials Processing. Terex delivers
lifecycle solutions to a broad range of industries, including the
construction, infrastructure, manufacturing, shipping,
transportation, refining, energy, utility, quarrying and mining
industries. Terex offers financial products and services
to assist in the acquisition of Terex equipment
through Terex Financial Services. Terex uses its
website (www.terex.com) and its Facebook page
(www.facebook.com/TerexCorporation) to make information available
to its investors and the market.
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version on businesswire.com: http://www.businesswire.com/news/home/20161004005352/en/
Terex CorporationBrian J. Henry, 203-222-5954Senior Vice
PresidentBusiness Development & Investor
Relationsbrian.henry@terex.com
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