Terex sell rigid truck business to Volvo for US$160 million

摘要

TEREX CORPORATION HAS AGREED TO SELL ITS TRUCK BUSINESS to Volvo Construction Equipment for approximately $160 million. The truck business manufactures and sells off-highway rigid and articulated haul trucks. The deal includes the firm's Motherwell, Scotland manufacturing facility. The sale, which is subject to government regulatory approvals and other customary closing conditions, is targeted to close in the first half of 2014. However, while the deal includes the purchase of the Scottish part of the business, financial analysts asked if the move was really about China. According to a Morgan Stanley report published today the deal included a share position in an Asian operation - namely a 25.2 per cent stake in Inner Mongolia North Hauler Joint Stock Co, which is said to be worth circa $106 million.