Japanese firm 7139 Yanmar is acquiring the compact construction equipment business of 1222 Terex Corporation. The deal is worth around US$60 million and will see ownership of Terex Corporation’s German operations that manufacture compact machines being transferred to Yanmar Holdings. Terex manufactures and markets ranges of wheeled loaders, midi and mini excavators, wheeled excavators, and a number of other products in Europe through this business. Included in the acquisition is the manufacturing facility located in Crailsheim as well as the parts distribution centre located at Rothenberg, both of which are in Germany.
The acquisition is expected to be completed during the Autumn of 2016 after the approval of Terex's shareholders and regulating authorities and the completion of all other required procedures.
Takehito Yamaoka, president, Yanmar Holdings said, "We are very happy to have concluded an agreement for the acquisition of Terex Corporation's small and medium sized construction machinery business, which possesses a strong Europe-based sales network and excellent products, including the distinguished German Schaeff series, in a move aimed at expanding the Yanmar Group's small to medium sized construction machinery business. I believe this tie-up will promote not only short term, but also the long term growth of the Yanmar's construction machinery business, by expanding the Yanmar Group's portfolio and supplementing the sales network of our French subsidiary.
The acquisition is expected to be completed during the Autumn of 2016 after the approval of Terex's shareholders and regulating authorities and the completion of all other required procedures.
Takehito Yamaoka, president, Yanmar Holdings said, "We are very happy to have concluded an agreement for the acquisition of Terex Corporation's small and medium sized construction machinery business, which possesses a strong Europe-based sales network and excellent products, including the distinguished German Schaeff series, in a move aimed at expanding the Yanmar Group's small to medium sized construction machinery business. I believe this tie-up will promote not only short term, but also the long term growth of the Yanmar's construction machinery business, by expanding the Yanmar Group's portfolio and supplementing the sales network of our French subsidiary.
