Independent journal on economy and transport policy
14:44 GMT+1
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Terex Corporation sells the division that produces to trucks cross-country vehicle to Volvo Construction Equipment
the transaction has a value of 160 million dollars
December 12, 2013
The American group Terex Corporation, that it produces to means of handling and raising, has agreed the sale for 160 million dollars about of own division that produces to trucks cross-country vehicle rigid and articulated to Volvo Construction Equipment (Volvo EC) of the automotive group Volvo.
The transaction, than is previewed will be capacity to term in the first half of the next year, among other things includes the cession of the factory of Motherwell, in Scotland, and 25.2% of the capital stock of Joint Inner Mongolia North Hauler Stock Co. (NHL), that it is quoted to the Stock exchange of Shanghai, that produces and commercializes rigid and articulated trucks with the Terex brand in China.
Last year the activities that will be yielded to Volvo EC (with exclusion of the NHL) have recorded a turnover of about 367 million dollars and an operating profit of 33 million dollars. In the first nine months of the 2013 turnover it has been of about 172 million dollars and the operating profit of 5,5 million dollars.
"The field of the trucks - it has commented the president and managing director of Terex, Ron DeFeo - has been an important part of our company for beyond three decades and continues to realize produced of world-wide level with expert and specialized dependent. However the trucks do not adapt more to our means pocketbook of raising and handling of materials that is in change". "The sale of the Truck activity - it has added - reflects our strategy of management of our pocketbook of activity and focalization on those businesses that they offer turned out better for our shareholders. We have recently announced the start of the payment of quarterly dividends to our shareholders and a program of I buy back of actions, and the proceeds of this sale contribute to our efforts thesis to improve our efficiency financial institution and to put into effect these programs".
"This - president of Volvo CE has declared, Pat Olney - is a strategic acquisition that a remarkable margin of increase offers to Volvo EC. The addition of a renowned range of dumper rigid multiplies the options of movement earth to advantage of the customers who take care of mining activities".
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The American group Terex Corporation, that it produces to means of handling and raising, has agreed the sale for 160 million dollars about of own division that produces to trucks cross-country vehicle rigid and articulated to Volvo Construction Equipment (Volvo EC) of the automotive group Volvo.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
