01.06.2001

Haulotte/Terex deal is off

Negotiations between Terex and Pinguely Haulotte under which Haulotte would have bought the Holland Lift and Cork factories have been called off without agreement. The surprise decision was reached despite announcements at bauma indicating that the deal was all but complete.

“We have agreed with Terex that the negotiations will cease and that the purchase will not take place” said Pierrick Lourdain, marketing director of Haulotte. He described the decision as mutual and added that both sides had tried to find a solution to outstanding issues which are believed to have centred on a range of issues. These included price, stock and after-sales issues.

His comments were echoed by Fil Filipov, executive vice-president of Terex, who told Vertikal.net: “We have agreed to stop the negotiations and will be going our different ways”. He said: “We continue to follow the same objective of selling our European access business and there are other interested parties on the horizon”.

Until that time the Holland Lift factory in Hoorn, The Netherlands, and the former Simon factory in Ireland will continue to build platforms to order. Filipov said that changing market conditions, price levels and questions of product-fit had led to the decision to halt the discussions which had “gone on for a very long time”.

Haulotte has now decided that it will instead develop its own range of large scissor lifts which are expected to be launched in the second quarter of next year, possibly at the Conexpo show in Las Vegas. The end of the deal, which was thought to be for a total amount of just under €15 million, leaves open the question of how Haulotte will increase its production levels as planned. The two factories were expected to contribute significantly to increased production levels and Haulotte can be expected to look for alternative solutions. It also brings to an end discussions about Terex selling Haulotte product in the US.

Relevant links:

Haulotte shows Holland Lift scissor

On the prowl

Cranes & Access 2000 Vol 2 Issue 6 page 6 (Haulotte to buy Terex plants)