Terex announces talks with Zoomlion terminated agreement to sell the material handling & port solutions business to Konecranes to proceed

Terex Corporation has announced discussions with Zoomlion Heavy Industry Science and Technology Co. regarding the purchase of Terex Corporation, either with or without the MHPS segment, have been terminated. Terex also announced that the sale of its Material Handling and Port Solutions business (“MHPS”) to Konecranes will proceed. The sale of MHPS to Konecranes for approximately $1.3 billion is subject to customary regulatory approvals and the approval of the shareholders of Konecranes, and is expected to close in January 2017.
 
About Terex
 
Terex Corporation is a lifting and material handling solutions company reporting in five business segments: Aerial Work Platforms, Cranes, Material Handling & Port Solutions, Materials Processing and Construction. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services.