Terex, manufacturer of lifting and material handling products has agreed to sell its Coventry UK business to French company Mecalac.
Terex Corporation is selling its Coventry compact construction business, which manufactures and sells backhoe loaders, site dumpers and compact compaction rollers.
Mecalac said the deal would broaden its offering with a complementary range of products, open it up to new geographical distribution areas and expand its “industrial know-how”.
“This acquisition follows our growth strategy, based on excellence, on the broadening of our range of equipment for urban construction sites, and on international distribution deployment,” said Mecalac chief executive Henri Marchetta.
“Our intent is to foster the sharing of expertise, the development of industrial and sales synergies, and to encourage cultural exchanges along with sharing our fundamental values among the teams.”
Gregg Horne, general manager of the Coventry business, added: “We are pleased and excited about the opportunity to join the Mecalac family.
“They embrace our vision of market growth and product innovation for the Coventry products and share the same values in terms of quality and team working.”
He added: “It will be very much business as usual for us and for our dealers and we are working towards a seamless transition during the first half of 2017.”
