Demag Cranes & Components announces the integration of the company into Terex Corporation.
Terex has held a majority share in the company since August 2011, and a domination and profit & loss transfer agreement came into effect in April 2012. Since then, Demag Cranes has been integrated into Terex as a fifth business segment named ‘Material Handling & Port Solutions’ operating alongside the other Terex segments of Aerial Work Platforms, Construction, Cranes (mobile and tower cranes) and Materials Processing (crushing and screening equipment).
Demag Cranes Group will operate under the Terex Material Handling & Port Solutions name in its dealings with customers and the market, replacing the Demag Cranes identity.
The new Terex Material Handling & Port Solutions business segment consists of two business groups. The Material Handling business group comprises the industrial cranes business along with its associated services in most countries. The globally renowned Demag brand will be extended to include the tagline ‘A Terex Brand’ and will continue to represent the industrial cranes, components and related services.
The Port Solutions business unit combines the Gottwald Port Technology business of Demag Cranes Group with the port equipment business of Terex. The Gottwald brand has been changed to Terex Gottwald to reflect the integration of the two brands. With its combined product portfolio, Terex Port Solutions offers its customers a broad range of manual, semi-automated and automated solutions in the port technology sector.
Aloysius Rauen, President of the Terex Material Handling & Port Solutions segment describes the integration of Demag Cranes Group into Terex Corporation as a strategic gain for everybody with their customers benefiting from a broader range of products that offer real added value.