Volvo Construction Equipment finalises acquisition of Terex hauler business
The previously announced acquisition of Terex’s hauler business by Volvo Construction Equipoment has been completed. The purchase consideration amounted to US$160 million (approximately SEK 1 billion/€118 million) on a cash and debt-free basis.
The deal includes the main production facility in Motherwell, Scotland, and two product ranges that offer both rigid and articulated haulers. It also includes the distribution of haulers in the US as well as a 25.2% holding in Inner Mongolia North Hauler Joint Stock (NHL), which manufactures and sells rigid haulers under the Terex brand in China.
In 2013, the acquired businesses (excluding NHL) had net sales of approximately $228 million (approximately SEK 1.5 billion) and an operating income of approximately $9.5 million (approximtely SEK 60 million).