05.08.2011

Demag Cranes acquisition cleared

Terex has received clearance from the European Union to complete its purchase offer for Demag Cranes AG.

The deal is now anticipated to complete during the week of August 15th. The European Commission statement said that the deal would not significantly alter the structure of the market, stating: ”Although the proposed transaction will technically reduce the number of players in an already concentrated market, the market impact is not expected to be significant due to Terex's limited market share”
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Demag Cranes includes the Gottwald range of mobile harbour cranes