Terex Corporation Acquires 50% of Sichuan Changjiang Engineering Crane Co., Ltd.
Terex Corporation it has acquired a 50% interest in Sichuan Changjiang Engineering Crane Co., Ltd., based in
Currently, Chinese regulations generally limit foreign enterprises from owning more than 50% of domestic companies that produce on-highway vehicles, including truck cranes. If and when regulations permit, Terex has the right to acquire the remaining 50% of Changjiang Crane.
Steve Filipov, President of Terex Cranes, commented "There is significant opportunity to grow this business both inside and outside of
The current CEO of Changjiang Crane, Mr. Wang Li, will remain in that position. Mr. Li commented, "We look forward to the additional growth and development of Changjiang Crane as the newest member of the Terex Cranes family."