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Terex Corporation to divest heavy construction business

The heavy construction equipment business of Terex Corporation, which includes machines such as compactors, material handlers and recycling systems, is to be divested from the rest of the company.

Terex Atlas which manufactures and sells a wide-range of heavy construction equipment is to be separated from the rest of Terex Corporation in the second quarter of this year.

This move will affect the Terex Atlas business based in Ganderkesee, Germany and related components businesses which operate in Vechta and Delmenhorst.

Also included as part of the transaction are the sales and service business which are located in Bradford, Yorkshire.

Full terms of the transaction have not been disclosed but the 800 team members that are currently employed by Terex Atlas in the UK and Germany will have their employment transferred to the new owner.

Terex chairman and chief executive officer Ron DeFeo said: The Atlas divestiture is another important step forward in the strategic repositioning of Terex.

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