April 17, 2010 (FinancialWire) — Terex Corp. (NYSE: TEX) has completed its divestment of the Terex Atlas heavy construction equipment and knuckle-boom crane manufacturing operations located in Germany to Atlas Maschinen GmbH.

Fil Filipov, a former Terex executive, is the chairman of Atlas Maschinen.

Divested in the transaction were crawler, wheel and rail excavators, knuckle-boom truck loader cranes and Terex Atlas branded material handlers. The completion of the transfer of the Terex Atlas United Kingdom sales and service business is expected to occur in the coming weeks.

Terex compact equipment made in Germany, namely mini and midi-excavators and compact wheel loaders, as well as the Terex Fuchs material handler line, remain with Terex as part of the construction business segment. Also not part of the transaction are Terex rigid and articulated trucks, backhoe-loaders and other products manufactured in the United Kingdom and Terex Roadbuilding equipment.

Terex Corp. is a diversified global manufacturer operating in four business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, and Terex Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, energy, refining and utility industries.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[frlylrf] [bldgcnstctn] [nwdlsldw]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.