WESTPORT, Conn. — Terex Corp. completed the previously announced acquisitions of Atlas Weyhausen and The Schaeff Group. Atlas Weyhausen is a leading German manufacturer of wheeled excavators and truck mounted articulated cranes and The Schaeff Group is a leading German manufacturer of compact construction equipment, including mini and midi excavators, compact wheel loaders, and a full range of scrap material handlers.
“The acquisitions fit with Terex's strategy of diversifying both the products and geographic range of our customer offerings,” said Ron DeFeo, Terex chairman and CEO. “In addition to adding approximately $400 million in new revenue, the acquisitions also help address a strategic issue for the company by increasing our presence in Germany, Europe's largest construction market. Atlas and Schaeff combined will add 60 independent dealers and approximately $250 million in annual German revenues.”
Fil Filipov, Terex executive vice president, will assume responsibility for Atlas and Schaeff under the new Terex organization structure.