Yanmar Holdings Co. concluded a final agreement on June 20 to acquire Terex Corporation’s German compact construction equipment business for approximately US$60m.
Terex carries out the production and sale of wheeled loaders, midi/mini excavators, wheeled excavators, and other products in Europe through this business. Included in the acquisition is the manufacturing facility located in Crailsheim, Germany, and the parts distribution center located in Rothenberg, Germany. Terex’s facility in Coventry in the UK is not included in the deal.
Yanmar says the acquisition will allow it to further actively develop its business in the small- to medium-sized construction machinery market in Europe by collectively utilizing the sales and service networks, and the product development and production know-how of both companies.
The acquisition is expected to be completed during Q3 of 2016 after the approval of Terex’s shareholders and regulating authorities and the completion of all other required procedures.
Takehito Yamaoka, president, Yanmar Holdings Co., said, “We are very happy to have concluded an agreement for the acquisition of Terex Corporation’s small- and medium-sized construction machinery business which possesses a strong Europe-based sales network and excellent products, including the distinguished German Schaeff series in a move aimed at expanding the Yanmar Group’s small- to medium-sized construction machinery business.
“I believe this tie-up will promote not only short-term, but also the long-term growth of the Yanmar construction machinery business, by expanding the Yanmar Group’s portfolio and supplementing the sales network of our French subsidiary.
In other news, it has been announced that Jean-Marc Reynaud terminated his responsibilities as president of Yanmar Construction Equipment Europe on June 10. The continuity of the operational and daily management of Yanmar Construction Equipment Europe will be handled by Taiki Nomura, vice-president, as well as by Hervé Le Roy and Arnaud Berthier, both administrators at the company’s Saint-Dizier factory in France.
The relations with the dealer network and customers will remain under the direction of Arnaud Berthier for after sales, and Andreas Hactergal for sales and marketing.
The construction equipment manufacturer will announce the re-organization of its management team shortly, with the objective to carry on the ongoing positive development of the company, and reinforcing its market presence and underlining its position as a premium manufacturer.
We’re not saying we predicted this acquisition, but see here…
June 23, 2016