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Terex to Buy Genie

Terex has signed a plan of merger with aerial-work-platform manufacturer Genie Holdings

September 01, 2002

Terex has signed a plan of merger with aerial-work-platform manufacturer Genie Holdings. The purchase consideration will be $75 million, consisting of $65 million in Terex common stock and $10 million in cash. Genie is a global manufacturer, with 2001 revenues of $575 million. With the number of aerial-work-platform nameplates decreased, Terex expects a return on invested capital in excess of 20 percent.

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