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June 2, 2014 10:30 AM, EDT
Volvo Completes Purchase of Terex Corp.’s Truck Business
Terex Corp.

Volvo Construction Equipment said June 2 it has completed its $160 million purchase of Terex Corp.’s truck subsidiary.

The deal includes Terex’s main production facility in Motherwell, Scotland, and two product ranges that offer rigid and articulated haulers.

It also includes the distribution of haulers in the United States and  25.2% holding in Inner Mongolia North Hauler Joint Stock Co. (NHL), which manufactures and sells rigid haulers under the Terex brand in China.

Last year, the acquired companies, excluding NHL, had sales of about $228 million and operating income of about $9.5 million.

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