Terex Corp. — a Norwalk-based maker of material processing and utility industry equipment, cranes and aerial lifts — has agreed to sell two of its subsidiary businesses to a Milan, Italy-based crane manufacturer. Terex has signed a definitive agreement to sell its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, which makes topless […]
Terex Corp. — a Norwalk-based maker of material processing and utility industry equipment, cranes and aerial lifts — has agreed to sell two of its subsidiary businesses to a Milan, Italy-based crane manufacturer.
Terex has signed a definitive agreement to sell its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, which makes topless and luffing cranes and spare parts and accessories for them.
The deal will include the Terex Tower Cranes facility in Fontanafredda, Italy; Terex Rough Terrain Cranes facility in Crespellano, Italy; and the Terex North America Cranes service and support operation in Wilmington, North Carolina.
Financial terms of the deal, which is expected to close in the second half of 2025, were not disclosed.
Terex said the sale of these two businesses aligns with the company’s aim to reduce cyclicality while growing its three segments: materials processing, aerials, and environmental solutions.
