Terex swallows two more

News November 30, 2001
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Terex Corp

Terex Corp. has announced it will acquire Atlas Weyhausen and The Schaeff Group.

Atlas Weyhausen is a German manufacturer of wheeled excavators and truck-mounted articulated cranes with estimated revenues of approximately $180 million. The Schaeff Group is a German maker of compact construction equipment and a range of scrap material handlers with estimated 2001 revenues of approximately $220 million. Both transactions are anticipated to close during fourth quarter 2001 or in early 2002.

"The acquisition of Atlas Weyhausen and The Schaeff Group provides enormous opportunity for us," said Ron DeFeo, Terex chairman and chief executive officer. "We expect these acquisitions will add $400 million in annual revenues."

Atlas and Schaeff both add products that fill gaps in the Terex portfolio. Atlas competes primarily in two product categories: wheeled excavators from 11 to 20 tons and truck-mounted articulated cranes. Schaeff competes in four product categories: mini excavators ranging from 1.5 to 5.5 tons, midi excavators ranging from 6.5 to 11 tons, wheel loaders ranging from 50 to 140 hp and scrap material handlers ranging from 20 to 65 tons.

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