Terex Corp., Westport, Connecticut, has completed the sale of its truck business to Volvo Construction Equipment, Shippensburg, Pennsylvania, for $160 million.
The truck business manufactures and sells off-highway rigid and articulated haul trucks. Included in the transaction is a manufacturing facility in Motherwell, Scotland, and two product ranges that offer both rigid and articulated haulers. The sale also includes the distribution of haulers in the United States as well as a 25.2 percent holding in Inner Mongolia North Hauler Joint Stock Co. (IMHJS), which manufactures and sells rigid haulers under the Terex brand in China.
In 2013, the acquired businesses, excluding IMHJS, had net sales of about $228 million and an operating income of about $9.5 million.
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