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Terex sells Atlas business

March 11th, 2010 Email/Share Print

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Terex has sold its Atlas heavy construction equipment division to an undisclosed buyer. Product lines included in the transaction are crawler, wheel and rail excavators, knuckle-boom truck loader cranes and Terex Atlas-branded material handlers. The sale also includes the Terex Atlas United Kingdom distribution business for truck loader cranes.

The transaction does not include Terex compact equipment made in Germany, including compact excavators, midi-excavators, compact wheel loaders and the Terex Fuchs material handler line, which remain in the company’s construction business segment. Rigid and articulated trucks, backhoes and other products manufactured in the United Kingdom also remain with Terex.

Terex bought Atlas in 2001 with the intention of having a full-size excavator to offer to a global market. In 2009, the Atlas division had an operating loss in excess of $61 million on sales of approximately $194 million.

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