Terex to sell mining business to Bucyrus

  • 15-Jan-2010 04:58 EST
Terex RH400 hydraulic mining shovel.jpg

Products to be divested by Terex include hydraulic mining excavators, electric drive mining trucks, track and rotary blasthole drills, and the highwall miner. Shown is the RH400—Terex's largest hydraulic mining shovel.

Terex Corp. has signed a definitive agreement to sell its mining business to Bucyrus International Inc. for $1.3 billion in cash. The products to be divested by Terex in the transaction include hydraulic mining excavators, electric-drive mining trucks, track and rotary blasthole drills, and the highwall miner, as well as the related parts and aftermarket service businesses, including the company-owned distribution locations. Terex notes that the transaction, which is expected to close in the first quarter of 2010, accelerates its transformation from a construction and mining equipment company to a machinery and industrial products business.

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