Terex Corporation announced it has signed a definitive agreement to sell its Terex® Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, an Italian manufacturer. This divestiture includes the Terex Tower Cranes facility in Fontanafredda, Italy, the Terex Rough Terrain Cranes facility in Crespellano, Italy, and the Terex North America Cranes service and support operation in Wilmington, North Carolina.
The sale is subject to government regulatory approvals and other customary closing conditions, with an expected close in the second half of 2025. This strategic move aligns with Terex's broader objective to reduce cyclicality within its portfolio and accelerate growth in its three core business segments: Materials Processing, Aerials, and Environmental Solutions.
Simon Meester, Terex President and Chief Executive Officer, stated that the Tower and Rough Terrain cranes businesses are expected to benefit from becoming part of a specialized global crane company. The agreement does not include Franna pick and carry cranes, which Terex will continue to manufacture in Australia and India, maintaining a presence in other crane markets.
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