Volvo CE to acquire hauler business from Terex

 Volvo Construction Equipment (Volvo CE) has agreed with Terex Corporation to acquire the hauler manufacturer Terex Equipment Ltd., including related assets and intellectual property. The deal, which is subject to regulatory approval, 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 United States as well as a 25.2 per cent holding in Inner Mongolia North Hauler Joint Stock Co. (NHL), which manufactures and sells rigid haulers under the Terex brand in China.  Commenting on the rationale of the deal, Pat Olney, President, Volvo CE, said, “This is a strategic acquisition that offers Volvo CE considerable scope for growth. The addition of a well-respected range of rigid haulers extends the earthmoving options for customers involved in light mining applications.”  The acquisition includes five models of rigid haulers, with proven designs and payloads ranging from 32-91 tonnes. The introduction of rigid haulers will extend Volvo CE’s position in light mining; an industry area that is complementary to general construction, oil and gas, aggregates and quarrying and road building — segments that Volvo CE is already active in. The transaction is expected to be finalized during the second quarter of 2014.