Terex Corp. last week completed the previously announced divestment of the Terex Atlas heavy construction equipment and knuckle-boom crane manufacturing operations located in Germany to Atlas Maschinen GmbH. Fil Filipov, a former Terex executive, is the chairman of Atlas Maschinen.
Divested in the transaction were crawler, wheel and rail excavators, knuckle-boom truck loader cranes and Terex Atlas-branded material handlers. The completion of the transfer of the Terex Atlas United Kingdom sales and service business is expected to occur in the coming weeks.
Terex compact equipment made in Germany, namely mini and midi-excavators and compact wheel loaders, as well as the Terex Fuchs material handler line, remain with Terex as part of the Construction business segment. Also not part of the transaction are Terex rigid and articulated trucks, backhoe loaders and other products manufactured in the U.K. and Terex Roadbuilding equipment.
“With the completion of this transaction, Terex will now focus on growing and developing our remaining Construction businesses,” said Ron DeFeo, Terex chairman and CEO.
Headquartered in Westport, Conn., Terex Corp. is a diversified global manufacturer operating in four business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes and Terex Materials Processing.