Terex To Make Tracks In Proposed Merger With ASV - ENR | McGraw-Hill Construction
Keywords: construction methods, markets, analysis, finance, costs, legislation, news articles, construction industry
Full Article Price:
$4.95
Delivery: Immediate Online Access
Publication Date: 30-JAN-08
Format: XML document
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Article Description| Terex Corp. is paying $488 million to pick up Grand Rapids, Minn.-based A.S.V. Inc., a large supplier of rubber-tracked undercarriages and construction machines. The Westport, Conn.-based buyer says the deal will add between $220 million and $250 million in revenue this year and has “tremendous opportunity for expanding ASV product sales,” says Terex Chairman and CEO Ronald M. DeFeo. One of ASV’s largest customers, Peoria, Ill.-based Caterpillar Inc., owns a 23.5% share in the track supplier and supports the merger, slated to close by the end of the first quarter of this year. |
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