22.05.2012

Terex takes 100% of Recom

Terex has acquired 100 percent of Italian luffing jib tower crane manufacturer Recom, having purchased the outstanding 67 percent of the company's shares that it did not already own. The company took a 33 percent stake in the company in October 2010 and it was always its aim to make a full takeover over the longer term.

Privately held Recom is based in Belluno and was established in 2003 by Ferruccio Moritsch, the founder of Comedil tower cranes which was acquired by Terex in 1999. Recom luffing jib tower cranes have been distributed exclusively by Terex Cranes since 2008.

The move follows the announcement last month that all Terex self-erecting crane production will be moved from Fontanafredda in Italy to Montceau-Les-Mines in France, freeing up space for the Recom production to be moved into the facility, consolidating all Terex luffing jib tower crane production, while adding capacity for flattops and hammerheads. A good number of Recom employees – particularly research and development - are expected to move to Fontanafredda.
Please register to see all images

“Following the transfer of our self-erecting tower cranes to France, the integration of Recom is an integral part of a logical and cost-efficient process to enhance our production capabilities and support the introduction of some exciting new models in the months to come,” said Steve Filipov, Terex president developing markets.

If all goes to plan, the transfer of self-erectors will create 150 new jobs in France, while adding more production space to cater to growing demand for the self-erecting tower crane products.