Terex Completes Sale Of Material Handling And Port Solutions Business

By pdamon04 January 2017

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.

MAGAZINES
NEWSLETTER
Delivered directly to your inbox, Diesel News Network newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
CONNECT WITH THE TEAM
Mike Brezonick VP, Power Division Tel: +1 262 754 4112 E-mail: mike.brezonick@khl.com
Alister Williams VP Sales Tel: +1 843 637 4127 E-mail: alister.williams@khl.com
CONNECT WITH SOCIAL MEDIA
Latest News
Regulator approves Hyundai deal for Doosan Infracore
South Korean regulator gives green light to deal for Hyundai Heavy Industries Holdings to buy Doosan Infracore
Air Products, Cummins in MOU on fuel cell trucks
Transition of Air Products tractor fleet to zero emissions to start with demonstration program
HummingbirdEV develops fast charging system for electric tractors
HummingbirdEV tender truck charges electric tractors in the field