United States – Terex Corporation and Konecranes have announced plans to combine their businesses in a merger of equals. The new company will be called Konecranes Terex and is scheduled to start operations in the first half of 2016. Until then, both will continue to operate as independent companies.
Konecranes Terex will be ‘parent’ to a family of leading brands in the industrial lifting, port solutions, aerial work platforms and cranes sectors. The Powerscreen, Terex Fuchs and Terex Finlay brands will continue to serve the materials processing, recycling and construction sectors.
Bringing these two ‘highly complementar’ businesses together will create significant value for the customer base through a more extensive product portfolio and geographic presence, it is explained.
The business deal will also pool existing R&D competencies so that Konecranes Terex will be ‘well positioned’ to further drive technology innovation and new solution developments.