Yanmar to acquire Terex Corporation’s compact equipment business
Yanmar Holdings will acquire Terex Corporation’s German compact construction equipment business for about US$60-million. Terex carries out the production and sale of wheel loaders, midi/mini excavators, wheel excavators, and other products in Europe through this business. Included in the acquisition is the manufacturing facility located in Crailsheim, Germany and the parts distribution center located in Rothenberg, Germany.
This acquisition will Yanmar to develop its business in the small to medium sized construction machinery market in Europe by collectively using the sales and service networks, and industry product development and production know-how of both companies.
Takehito Yamaoka, president of Yanmar Holdings, says, “We are very happy to have concluded an agreement for the acquisition of Terex Corporation’s small and medium sized construction machinery business, which possesses a strong Europe-based sales network and excellent products, including the distinguished German Schaeff series, in a move aimed at expanding the Yanmar Group’s small to medium sized construction machinery business. I believe this tie-up will promote not only short term, but also the long term growth of the Yanmar’s construction machinery business, by expanding the Yanmar Group’s portfolio and supplementing the sales network of our French subsidiary.”