Terex Corporation, the American global company that made a name for themselves in the earthmoving industry is now entirely out of the earthmoving business. Per Construction Index, Terex have agreed to sell their UK-based operation where they build site dumpers, backhoes, compaction rollers, and many others to Mecalac, which is a France-based manufacturer of excavators, compact loaders, and the like. According to reports, Terex is expected to be closed in the first half of this year.
The deal is the third equipment disinvestment of 2016 for the American company. It should be noted that the company also sold their Material Handling and Port Solutions enterprise to Konecranes after contemplating and the making a decision against performing a merger with Zoomlion, a Chinese manufacturer. Furthermore, in June, Terex sold their compact construction equipment business to Yanmar, a Japanese diesel engine manufacturer. That particular division happens to manufacture mini/mid excavators, compact as well as wheeled excavators, and many others.
That’s not all because Terex have also exited the compact track loader and skid-steer business. Many of their loaders here are now being built as well as sold under the ASV brand. Per reports, the company is now going to focus on cranes, crushing/screening equipment, and aerial lifts.
“We are pleased to enter into this agreement with Mecalac as they are a logical strategic buyer and have the resources and capability to further grow the business,” John Garrison, Terex president and CEO said in a statement. “For Terex, the sale of the Coventry compact construction business represents continuing progress 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.”