Terex to Sell Tower and Rough Terrain Cranes Businesses

Core Viewpoint - Terex Corporation has signed a definitive agreement to sell its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, with the transaction expected to close in the second half of 2025, pending regulatory approvals [1][2]. Group 1: Terex Corporation - The sale includes the Terex Tower Cranes facility in Fontanafredda, Italy, the Terex Rough Terrain Cranes facility in Crespellano, Italy, and the Terex North America Cranes service operation in Wilmington, North Carolina [1]. - This divestiture aligns with Terex's strategic focus to reduce cyclicality while accelerating growth and leveraging synergies across its three business segments: Materials Processing, Aerials, and Environmental Solutions [2]. - Terex will continue to manufacture Franna pick and carry cranes at its Eagle Farm facility in Brisbane, Australia, and the Terex Hosur facility in India [2]. Group 2: Raimondi Cranes - Raimondi Cranes, based in Milan, Italy, is recognized for its product innovation and customer service, and aims to enhance its capabilities through this acquisition [2]. - The acquisition is seen as a milestone for Raimondi in its journey to become a global lifting conglomerate, creating synergies that will support sustainable growth [2][5]. - Founded in 1863, Raimondi has delivered over 17,000 cranes globally and continues to focus on quality, innovation, and customer satisfaction in the heavy lifting sector [4][5].