Terex Corp. mining equipment division is going to be purchased by Bucyrus International Inc. for $1.3 Billion. This speeds up Terex’s plan to convert to a machinery and industrial products company from a construction and mining equipment business. Also included in this acquisition complimentary services to its business and broadening its geographic reach.
This Deal is expected to close in the first quarter and has been approved by both companies’ boards.
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Terex Corporation (Terex) is a diversified global manufacturer of capital equipment focused on delivering reliable, customer relevant solutions for the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining and utility industries. The Company operates in five segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, Terex Materials Processing & Mining and Terex Roadbuilding, Utility Products and Other. On March 3, 2008, the Company completed the acquisition of ASV Inc. In July 2009, Terex completed the acquisition of the port equipment businesses of Fantuzzi Industries S.a.r.l and Noell Crane.
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