Terex Corporation announced it has completed the sale of its German compact construction business to Yanmar Holdings Co., Ltd. for $60 million in cash. The German compact construction business manufactures and sells midi/mini excavators, wheeled excavators and compact wheel loaders. Included in the transaction is the manufacturing facility located in Crailsheim, Germany and the parts distribution center located in Rothenburg, Germany.
“The completion of this transaction is another step in our strategy to focus our portfolio on those businesses that can consistently deliver returns in excess of our cost of capital,” commented John L. Garrison, Terex president and chief executive officer. “Yanmar is a strong strategic buyer with the resources and capability to develop and grow the acquired business for the benefit of all stakeholders, including customers, distribution partners and employees.”
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