Terex Corporation Finalizes Strategic Divestiture to Raimondi Cranes

In a significant move aimed at refining its business focus, Terex Corporation (NYSE: TEX) has officially completed the sale of its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, a prominent Italian crane manufacturer headquartered in Milan. The transaction, announced today, underscores Terex’s commitment to reducing operational cyclicality while positioning itself for accelerated growth in other areas of its operations.

The divestiture includes key manufacturing operations and facilities located in Fontanafredda and Crespellano, Italy, along with the Terex North America Cranes service and support operation situated in Wilmington, North Carolina. Notably, the transaction does not encompass Terex’s Franna® pick and carry cranes business, which is based in Australia.

Simon Meester, President and CEO of Terex, expressed optimism about the sale, stating, "For Terex, this move aligns with our strategic focus on reducing cyclicality and accelerating the Company's growth." He further emphasized the advantages for the Italian cranes businesses, noting that they will benefit from the strategic resources and expertise of Raimondi, which is recognized as a leader in the construction and heavy lifting sectors.

This divestiture signals a pivotal shift in Terex’s business strategy, allowing the company to streamline its operations and concentrate on its core areas of industrial equipment manufacturing. By shedding its Tower and Rough Terrain Cranes divisions, Terex aims to enhance its agility in responding to market demands and capitalize on emerging opportunities in other segments.

Conversely, Raimondi Cranes, with its rich heritage dating back to 1863, is poised to leverage this acquisition to expand its product offerings and strengthen its position in the global market. The acquisition aligns with Raimondi’s mission of delivering innovative and scalable heavy lifting solutions, thus enhancing its capacity to serve a diverse client base around the world.

In a gesture of appreciation, Meester extended his gratitude to the cranes team members at Terex, acknowledging their valuable contributions to both the company and the broader industry. "We thank our cranes team members for their contributions to Terex and the industry, and we wish them great success in the years ahead," he remarked.

Terex Corporation is a global leader in manufacturing industrial equipment, specializing in materials processing machinery, waste and recycling solutions, mobile elevating work platforms (MEWPs), and equipment for the electric utility industry. The company emphasizes sustainability, offering electric and hybrid products designed to minimize environmental impact while maximizing operational efficiency.

With manufacturing facilities across North America, Europe, and Asia Pacific, Terex is well-positioned to serve a global market, providing best-in-class lifecycle support to its customers.

Founded in Milan, Italy, Raimondi Cranes is a distinguished manufacturer of heavy lifting solutions, with a legacy rooted in Italian engineering excellence. With a track record of delivering over 17,000 cranes globally, Raimondi continues to innovate and adapt to the evolving needs of the construction and heavy lifting sectors.

This acquisition marks an exciting chapter for both Terex and Raimondi, as they navigate the complexities of the industrial equipment landscape while striving for excellence in their respective markets.