Transport Topics Online
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
12/9/2013 9:30:00 AM Write a Letter to the Editor Write a letter to the Editor

Terex Corp. Will Sell Truck Business to Volvo for $160 Million


Terex Corp. announced that it will sell its truck subsidiary to Volvo Construction Equipment for $160 million in cash.

Terex’s truck business manufactures and sells off-highway rigid and articulated haul trucks. The deal is expected to close in the first half of 2014 and includes Terex’s manufacturing facility in Motherwell, Scotland.

“The addition of a well-respected range of rigid haulers extends the earthmoving options for customers involved in light mining applications at a time of renewed confidence in the sector. The addition of TEL’s articulated hauler range will enhance our position in this segment, particularly in high-growth markets,” Volvo CE president Pat Olney said in a statement.

Terex, based in Westport, Conn., manufactures construction equipment and provides port services.

“Trucks no longer fit within our changing portfolio of lifting and material handling businesses. I am confident that the truck business will benefit by joining a company sharing similar competencies and offering complementary products and services,” Ron DeFeo, Terex chairman and CEO, said in a statement.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2013, Transport Topics Publishing Group. All rights reserved.

Volvo to Sell Equipment Rental Unit for $1.1 billion (12/10/2013 8:00:00 AM)
iTECH: Striking Freight Deals Online (9/10/2012 9:00:00 AM)
News Briefs - Dec. 16 (12/16/2003)
News Briefs - May 30 (5/30/2002 8:10:00 AM)
News Briefs - Jan. 2 (1/2/2002 8:00:00 AM)
Executive Briefing - Oct. 11 (10/11/2001 8:00:00 AM)


Follow Us


This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.



© American Trucking Associations, Inc., All Rights Reserved Privacy Statement