Terex Corp. has agreed to the sale of its Coventry, UK-based compact construction business to a subsidiary of Groupe Mecalac. The Coventry business makes backhoe loaders, site dumpers and compaction equipment.
The sale means Terex is out of general construction machinery manufacturing and will now focus on cranes, access equipment, and crushing/screening equipment.
Mecalac is a French manufacturer of compact loaders and excavators. Groupe Mecalac chief executive Henri Marchetta said: “This acquisition follows our growth strategy, based on excellence, on the broadening of our range of equipment for urban construction sites, and on international distribution deployment. Our intent is to foster the sharing of expertise, the development of industrial and sales synergies, and to encourage cultural exchanges along with sharing our fundamental values among the teams.”
Gregg Horne, general manager of the Terex Coventry business, said “It will be very much business as usual for us and for our dealers and we are working towards a seamless transition during the first half of 2017.”
The price of the sale has not been disclosed and the deal is expected be complete in the first half of 2017.