Terex completes the sale of its material handling and port solutions business to Konecranes

Terex Corporationhas completed the sale of its Material Handling and Port Solutions business (“MHPS”) to Konecranes Pl for $595 million and €200 million in cash and 19.6 million newly issued class B shares representing a 25% interest in Konecranes.
 
The final transaction consideration is subject to post-closing adjustments for cash, debt, working capital, MHPS actual 2016 EBITDA and the closing of the sale of the Stahl CraneSystems business.
 
About Terex:
Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on investment. Terex reports in three business segments: Aerial Work Platforms, Cranes and Materials Processing.  Terex delivers lifecycle solutions to a broad range of 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.