Terex is now completely out of the earthmoving business.
According to a report from The Construction Index, the company has agreed to sell its UK-based operation where it manufactures backhoes, site dumpers and compact compaction rollers, to Mecalac, a French manufacturer of compact loaders and excavators.
The deal, details of which have not yet been announced by Terex, is expected to close in the first half of 2017, TCI reports.
The sale is the third equipment divestiture of the year for Terex. In May, the company sold its Material Handling & Port Solutions business to Konecranes after entertaining and then ultimately deciding against a merger with Chinese manufacturer Zoomlion. In June, the company sold its compact construction equipment business to Yanmar. That division manufactures midi/mini excavators, wheeled excavators and compact wheel loaders.
Terex has also exited the skid-steer and compact track loader business with all those models now being manufactured and sold under the ASV brand. Terex’s focus is now entirely on aerial lifts, cranes and crushing/screening machinery.
“We are pleased to enter into this agreement with Mecalac as they are a logical strategic buyer and have the resources and capability to further grow the business,” John Garrison, Terex president and CEO, said in a statement. “For Terex, the sale of the Coventry compact construction business represents continuing progress in our strategy to focus our portfolio on those product categories where Terex has a significant presence in the market and that can provide the greatest returns for our shareholders.”