Volvo Construction Equipment acquires Terex’s hauler business
June 12, 2014 - Volvo Construction Equipment has announced it has completed the previously announced acquisition of Terex's hauler business. The purchase consideration amounted to USD 160 M (approx. SEK 1 bn) on a cash and debt free basis.
The deal includes the main production facility in Motherwell, Scotland
and two product ranges that offer both rigid and articulated haulers. It
also includes the distribution of haulers in the U.S. as well as a 25.2%
holding in Inner Mongolia North Hauler Joint Stock Co. (NHL), which
manufactures and sells rigid haulers under the Terex brand in China.
In 2013, the acquired businesses (excluding NHL) had net sales of
approximately USD 228 M (approx. SEK 1.5 billion) and an operating
income of approximately USD 9.5 M (approx. SEK 60 M).