Press release

Volvo Construction Equipment finalizes the acquisition of the hauler business from Terex

2014-06-02

press release AB Volvo

The previously announced acquisition of Terex’s hauler business was today completed. The purchase consideration amounted to USD 160 M (approx. SEK 1 bn) 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 U.S. as well as a 25.2% holding in Inner Mongolia North Hauler Joint Stock Co. (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 USD 228 M (approx. SEK 1.5 billion) and an operating income of approximately USD 9.5 M (approx. SEK 60 M).

Journalists who wish further information, please contact

Karin Wik, Volvo Group, tel. +46 – (0)31 323 72 29
Klas Magnusson, Volvo CE, tel. +32 2482 5065

Download

PDF of Press release (ENG) Format PDF Size 311 KB

PDF of Press release (SWE) Format PDF Size 128 KB