#USA #Norwalk #Terex Corporation #Raimondi Cranes #Tower Cranes

Terex Corporation Completes Sale of Crane Businesses

In a significant move aimed at enhancing its strategic focus, Terex Corporation (NYSE: TEX) announced the completion of the sale of its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, a renowned global crane manufacturer based in Milan, Italy.

The divestiture encompasses the manufacturing operations and facilities located in Fontanafredda and Crespellano, Italy, along with the Terex North America Cranes service and support facility in Wilmington, North Carolina. Notably, the transaction does not include Terex's Franna® pick and carry cranes business, which operates out of Australia.

Simon Meester, the President and CEO of Terex, stated, "For Terex, this move aligns with our strategic focus on reducing cyclicality and accelerating the Company's growth. At the same time, we believe these Italian cranes businesses will strategically benefit from becoming part of Raimondi, a Milan-based lifting conglomerate that is a leader in the construction and heavy lifting sectors. We thank our cranes team members for their contributions to Terex and the industry, and we wish them great success in the years ahead."

Overview of Terex Corporation

Terex Corporation is a global player in the production of industrial equipment, specializing in materials processing machinery, waste and recycling solutions, mobile elevating work platforms (MEWPs), and equipment tailored for the electric utility industry. It designs and constructs products utilized in various sectors ranging from maintenance and manufacturing to energy and construction.

Moreover, Terex is recognized for providing exceptional lifecycle support through its worldwide parts and services organization. Its products include innovative solutions that allow customers to minimize their environmental footprint, featuring electric and hybrid options that deliver silent, zero-emission performance. The products are manufactured across North America, Europe, and Asia Pacific, and sold globally.

For further information on Terex's offerings, interested parties can visit Terex's official website.

Introducing Raimondi Cranes

Raimondi Cranes, established in 1863 and headquartered in Milan, Italy, has built a reputation as a premier manufacturer of scalable heavy lifting solutions. With a legacy entrenched in Italian engineering excellence, Raimondi has successfully delivered over 17,000 cranes to clients across the globe, showcasing its commitment to quality, innovation, and customer satisfaction.

Positioned under Arada Industries, part of Arada Group, Raimondi is on a trajectory of further growth to solidify its status as a leading global lifting conglomerate. The incorporation of Terex’s Tower and Rough Terrain businesses is seen as a strategic enhancement, promising a wealth of advantages for both parties.

For more information regarding Raimondi Cranes, their history, and their offerings, please refer to Raimondi's official website.

Conclusion

The finalized sale of Terex’s Tower and Rough Terrain Cranes businesses marks a pivotal transition for both Terex Corporation and Raimondi Cranes. This strategic move not only complements Terex’s long-term focus on growth and stability in the ever-evolving construction landscape but also signifies an exciting development for the Italian crane manufacturer as it expands its footprint in the industry. Stakeholders and industry observers will be watching closely to see how this transition unfolds and the potential innovations that may emerge from this collaboration.