The convoluted breakdown of Terex’s equipment division is almost over with announcement the deal for sale of the material handling and port solutions business to Konecranes has been completed.
Terex has been selling off a range of equipment divisions and announced the Konecranes deal which soon became a three way tango when Chinese equipment maker, Zoomlion entered negotiations with a counter offer.
Terex then offered to sell just the material handling and port solutions component to Konecranes after the Zoomlion bid.
The Zoomlion deal then fell over with Terex saying Zoomlion had been unable to provide “a fully financed, binding proposal for the purchase of Terex with or without the material handling and port solutions” business.
Zoomlion countered this saying it pulled out because the MHPS business was no longer part of the deal.
Terex president and CEO John Garrison said completion of the sale of the MHPS to Konecranes “is a major milestone on our journey to become a more focused, high performance enterprise.
Terex has now cut its business portfolio significantly having ditched the earthmoving equipment businesses selling the compact construction equipment line (compact loaders, mini excavators) to Yanmar, exited the skid-steer business with the machines now made by ASV and sold its backhoe, site dumpers and compact compaction rollers range to French company Mecalac.
The company has been consolidated to scissor lift brand, Genie, Demag and Terex cranes and materials processing businesses, Powerscreen, Finley, and Evoquip.