Terex Completes Sale Of Material Handling And Port Solutions Business

Terex Corp. announced that it has completed the sale of its Material Handling and Port Solutions business  to Konecranes Plc  for $595 million and €200 million ($209.3 million) in cash and 19.6 million newly issued class B shares representing a 25% interest in Konecranes.

“We believe that the Konecranes-MHPS combination represents compelling industrial logic that will deliver significant value to Konecranes customers, team members and shareholders, including Terex” said John L. Garrison, Terex President and CEO.

“The sale of our MHPS business is a major milestone on our journey to become a more focused, high performance enterprise. We are committed to delivering improved profitability and return on capital across Terex as we implement our strategy of focus, simplify and execute to win.”

The final transaction consideration is subject to post-closing adjustments for cash, debt, working capital, MHPS actual 2016 EBITDA and the closing of the sale of the Stahl CraneSystems business.

Related Articles

Management Changes at Dana Off-Highway
Hydrogen Excavator “First” From JCB
Yet Another Acquisition By Power Test
Deutz Opens New Logistics Operation
Ricardo’s New US Team and Partnership
Briggs Moving Some Production To New York
Scania USA, Hamilton Engine Announce New Distributor Partnership
Lisboa To Succeed Clarke As Navistar CEO

Latest News

Trystar Streamlines Manufacturing At New Site
Volvo Penta Supplies Electric Driveline For Fire Truck
First MTU Gas Engines In New Doeksen Ferry
Management Changes at Dana Off-Highway
Isotta Fraschini Motori’s Next 120 Years
Hydrogen Excavator “First” From JCB
Crucial Stage 5 Delay Breakthrough, Says Industry
Cummins Wins Turbocharger Patent Action
New Online Resources For Propane Autogas

Magazine Issue Archive

Diesel Progress – June 2020
Diesel Progress International May-June 2020
Diesel Progress – May 2020
Diesel Progress – April 2020
Diesel Progress International March-April 2020
Diesel Progress – March 2020
Diesel Progress – February 2020
Diesel Progress International January – February 2020
Diesel Progress – January 2020
Diesel Progress – December 2019

Login

Forgotten Password?

Haven’t got an account? Click here to register.