Terex to Sell European Lift Units to French Firm

Terex signed a letter of intent to sell its European aerial work platform businesses to Pinguely Haulotte, a top French lift manufacturer, for $13.5 million plus $21 million of European receivables to be retained by Terex. The letter of intent also includes a reciprocal distribution agreement in Europe and North America.

The units to be divested include the Irish and Dutch factories that are part of Terex Lifting.

Terex chairman and CEO Ron DeFeo said the transaction would put the company's European lift business in "stronger strategic hands" and allow Terex to redeploy capital into more lucrative areas.

Westport, Conn.-based Terex is retaining its U.S. AWP operations.

Parker Ford, Pa.-based MacKissic acquired Johnson Big Wheel Mower, based in Ridgeland, Miss. Johnson has been producing high-wheel mowers for more than 40 years. Johnson also makes high-wheel trimmer mowers and a rough-terrain mower.

MacKissic's current product mix includes tillers, chipper-shredders, stump cutters, walk-behind leaf blowers and powered garden sprayers.

The Dimas division of the Sweden-based Electrolux Group acquired Magnum Diamond & Machinery, Grandview, Mo., a manufacturer and distributor of pavement saws and diamond tools. The company will be a part of Dimas' diamond tool and equipment business.

Dimas USA and Magnum will form a new company, Dimas Magnum USA.

Stavostroj, the largest manufacturer of compacting equipment in Central and Eastern Europe, begins this year to supply building machines to CNH Global of Racine, Wis. The agreement allows the Czech company to enter the Western European and U.S. markets while providing sales support for CNH products in Eastern Europe.

DeWalt, based in Baltimore, signed an agreement to acquire Johnstown, Pa.-based Emglo Air Compressors. Terms of the agreement were not disclosed.

Baldor Electric, based in Fort Smith, Ark., agreed to purchase Pow'R Gard Generator in Oshkosh, Wis. Baldor, which has 13 manufacturing plants nationwide, makes electric motors and drives.

Trail King Industries, Mitchell, S.D., has completed its acquisition of Red River Manufacturing, West Fargo, N.D. Terms of the transaction were not disclosed.

Trail King, a subsidiary of Carlisle Cos., will continue to operate Red River's production facility and market the Red River line, which includes live-bottom trailers and truck bodies.

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