Terex to purchase ASV

Terex Corporation has announced the intention to purchase Grand Rapids, Minnesota-based ASV, a manufacturer of compact rubber track loaders and related products. The transaction, which is expected to close by the end of the first quarter in 2008, is valued at approximately $488 million. Ronald M. DeFeo, chairman and chief executive officer, Terex, says the addition to the company’s compact equipment line will enhance future earnings growth potential. “We expect ASV will add approximately $220 to $250 million in sales on a 2008 full-year basis.”