17.08.2011

Terex completes Demag Acquisition

Terex has confirmed that it has completed the purchase of the Demag Crane shares under its public tender offer.

As a result of the €45.5 a share offer Terex now owns 82 percent of Demag Cranes equity.

Terex chief executive Ron DeFeo said: "We are very pleased with the addition of Demag Cranes to the Terex group. It adds a new business segment to Terex with world-class products in industrial cranes and hoists and port technology and services. We are satisfied with the results of the tender process, and continue to believe strongly in the compelling industrial rationale of this deal and the growth opportunities for both companies."