News Story
1 minute read

Terex buys Fantuzzi

Thursday, 21 August 2008 ( #374 ) - Westport, CT, United States
CEO DeFeo discusses Terex's performance on US television
CEO DeFeo discusses Terex's performance on US television
Terex Corporation has reached a definitive agreement to acquire the port equipment businesses of Fantuzzi Industries S.a.r.l. for a total consideration of approximately EUR215 million (USD318 million). The transaction is subject to the usual closing conditions, including regulatory approval, and is anticipated to close in the fourth quarter of 2008. "This acquisition provides us with an important growth opportunity in the intermodal transportation area of infrastructure," says Ronald M. DeFeo, Terex chairman and chief executive officer. "The acquisition is an excellent fit with our strategy of expanding our market presence in related product areas and is a natural extension of our Cranes business. We expect this acquisition to be accretive to Terex earnings per share by the end of 2009." The existing Terex reach stacker product line will be joined by the Fantuzzi product range that includes Noell-branded straddle carriers; Fantuzzi- and Noell-branded rail and rubber-tyred gantry cranes; mobile harbour cranes; ship-to-shore cranes; and reach stackers and forklifts designed to improve port productivity and throughput. "We are truly excited to welcome these businesses and their team members, distributors and customers to the Terex Cranes family," says Terex president Rick Nichols. "This acquisition represents an exciting opportunity for both companies, and together we will ensure that our customers in the port equipment and lifting segments will be the ultimate beneficiaries of our expanded product and service offerings." Forkliftaction News will analyse the deal in the next newsletter.
In order to help prevent damage to pallets and goods, Meijer Handling Solutions has developed a sensor that displays the horizontal position of the load.
As more vehicles are introduced into working spaces such as warehouses or ports, safety of pedestrians and other users become more of a concern. Protecting lives and reducing risk of injury is paramount to any material handing situation.

Upcoming Events

December 6 - 10, 2021 - online, Australia
February 01-02, 2022 - Dubai, United Arab Emirates

Upcoming Events

December 6 - 10, 2021 - online, Australia
February 01-02, 2022 - Dubai, United Arab Emirates
The CARER Z Series ranges from 13,000lbs to 36,000lbs capacity, and has been designed to operate in very confined operating environments, where minimal space is available. Furthermore...
Access to the biggest audience of decision makers in materials handlingExpected outcomes discussed before campaign startUninterrupted visibility across 3 channelsFlexible campaigns (reports on impressions + clicks...
Access to the biggest audience of decision makers in materials handlingExpected outcomes discussed before campaign startUninterrupted visibility across 3 channelsFlexible campaigns (reports on impressions + clicks...
The CARER Z Series ranges from 13,000lbs to 36,000lbs capacity, and has been designed to operate in very confined operating environments, where minimal space is available. Furthermore...

Upcoming Events

December 6 - 10, 2021 - online, Australia
February 01-02, 2022 - Dubai, United Arab Emirates

Latest Jobs

North Orlando, United States
Baton Rouge, United States
Dayton, OH, United States
Lexington, KY, United States