The purchase of Steelweld supports its Dungannon-headquartered Terex Materials Processing business's growth strategy by increasing local fabrication capabilities.
"We are excited to welcome Steelweld's talented employees to the Terex team. Over the past 40 years, the company has built a highly skilled workforce and has a valued reputation for high quality and service," said John L. Garrison, Jr., Terex Corporation chairman and chief executive officer.
Kieran Hegarty, Terex Materials Processing president, added: "Steelweld's expertise in heavy fabrications will provide additional knowledge and talent to support the growth of Terex Materials Processing."
Terex Materials Processing brands include, among others, Powerscreen, Terex Finlay, EvoQuip, Terex Mineral Processing Systems, and Ecotec.