#United States #Terex Corporation #Norwalk, Connecticut #Raimondi Cranes #Tower Cranes

Terex Corporation Sells Tower and Rough Terrain Cranes Businesses

In a strategic move to enhance efficiency and focus on core operations, Terex Corporation (NYSE: TEX) has signed a definitive agreement to divest its Terex® Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, a renowned crane manufacturer based in Milan, Italy. This transaction, which is anticipated to close in the latter half of 2025, includes critical facilities such as the Terex Tower Cranes facility located in Fontanafredda and the Rough Terrain Cranes facility in Crespellano, Italy, as well as the North American Cranes service operation in Wilmington, North Carolina.

Simon Meester, the President and CEO of Terex, expressed optimism about the agreement, highlighting Raimondi's reputation for innovation and high-quality customer service in the crane industry. “We believe the Tower and Rough Terrain cranes will thrive as part of a specialized crane company like Raimondi,” stated Meester. He added that Terex is committed to providing seamless support to its customers during the transition period.

Luigi Maggioni, CEO of Raimondi Cranes, further emphasized the significance of this acquisition for his company. According to him,