Konecranes signs a new agreement in order to buy the division Material Handling & Port Solutions of the Terex



The Finnish group Konecranes has signed a final agreement yesterday in order to buy the division Material Handling & Port Solutions (MHPS) of the American Terex Corporation. However this project of concentration between two of the main world-wide means producers of handling, even if less wide one regarding the entire fusion of the two companies initially agreed last August ( on 12 August 2015), it can still be hindered from the Zoomlion Heavy Industry Science & Technology Co., Chinese society that has successively introduced an offer in order to acquire the American company and that recently it has raised the economic value of own proposal with the attempt to put outside game the Finnish group ( on 28 January and 25 March 2016).

The last understanding, that it replaces the precedence fusion project, previews in fact that Terex can cancel this last agreement within next 31 May if it will sign or even if only it founds possibility to sign a binding agreement of fusion of the entire Terex with the Zoomlion. If this had to happen, Terex will have to pour an indemnification to the Konecranes pairs to 37 million dollars.

The division Terex MHPS, that it is one of the five divisions of the American group, produces and commercializes industrial cranes and members and services for means of raising with the Demag brand let alone crane for the harbour field with various marks, between which the Gottwald brand. The division has plants in 16 nations and a commercial net and of service that covers 60 nations.

Last year the division Terex MHPS, that some 7.200 people appoints to a job, has recorded revenues pairs to beyond 1,5 billion dollars (1,4 billion euros). The acquisition by Konecranes, estimated about 1,13 billion euros (1,3 billion dollars), will be carried out cash and the bestowal of new actions. The last agreement previews that Terex receives 820 million dollars cash (723 million euros) and 19,6 million set in action of the Konecranes of new issue, titles that will give to Terex the property of 25% of the capital of the Finnish group. According to the forecasts, the transaction will be capacity to term to January 2017.

On the base of the data of 2015, the society I yield of the fusion of Konecranes with Terex MHPS it will have about 19.000 dependent and it will record revenues pairs to beyond 3,5 billion euros.