30.12.2002

Terex sells Demag's Dutch and Belgian subsidiaries

Terex-Demag GmbH, based in Zweibrucken, Germany has agreed to sell to Kuiken N.V., based in the Netherlands, 100% of the shares of the Terex-Demag subsidiaries in the Netherlands and Belgium. Kuiken leadership of operations is effective immediately, and current employees will be retained in order to provide a seamless customer transition said the company.

Steve Filipov, Group President of Terex Cranes commented, “With the acquisition of Demag we have the chance to offer our customers the broadest range of cranes in the world. Kuiken has proven their excellent parts and service support capabilities to our customers, and is the perfect partner to help grow the Terex Cranes franchise in the Benelux countries.”

* Terex-Demag will deliver a crane package worth €9 million ($9.2 million) to the crane rental company Michielsens, Antwerpen this month. The package consists of 12 all-terrain cranes ranging in lifting capacity from 80 to 700 tons: six AC 100 models, five AC 80-2 and one AC 700. The AC 700 is is an update of the AC 650 with strongly improved capacities particularly for the luffing fly jib in SSL configuration. Lift capacity of this new model is 700 metric tonnes.

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