Terex has acquired Metso’s Reedrill division, which manufactures surface drilling equipment for use in the mining, construction and utility industries. The deal is expected to close at the end of the year. “The acquisition is an excellent fit with Terex’s strategy of product diversity and is a natural extension of our mining and utility customer offerings,” said Ronald DeFeo, Terex chairman and chief executive officer. “In fact, synergies between Terex and Reedrill were already materializing, as many of our Terex Utilities dealers have distribution agreements for the Reedrill products and services.” Rick Nichols, president – Terex Materials Processing & Mining, will be responsible for the management and integration of the Reedrill businesses.
Terex buys Reedrill division of Metso
Dec 13, 2004