Volvo Construction Equipment finalizes the acquisition of the hauler business from Terex
The previously announced acquisition of Terex’s hauler business was today completed. The purchase consideration amounted to USD 160 M (approx. SEK 1 bn) on a cash and debt free basis.
The deal 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 U.S. as well as a 25.2% holding in Inner Mongolia North Hauler Joint Stock Co. (NHL), which manufactures and sells rigid haulers under the Terex brand in China.
In 2013, the acquired businesses (excluding NHL) had net sales of approximately USD 228 M (approx. SEK 1.5 billion) and an operating income of approximately USD 9.5 M (approx. SEK 60 M).
June 2, 2014
Journalists who wish further information, please contact
Karin Wik, Volvo Group, tel. +46 – (0)31 323 72 29
Klas Magnusson, Volvo CE, tel. +32 2482 5065
For more stories from the Volvo Group, please visit http://www.volvogroup.com/globalnews.
AB Volvo (publ) is required to disclose the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 07:30 a.m. June 2, 2014.
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