Terex not in discussions to buy Daewoo Heavy Industries
Terex issued a statement last week saying it is not involved in discussions regarding an acquisition of Daewoo Heavy Industries & Machinery. The company said its statement was in response to a report in the media. The press release said Terex generally does not respond to industry rumors, but did so because of the level of inquiries it had received regarding the report.
Atlas Copco to buy 49 percent of its Indian subsidiary
Atlas Copco announced Friday it intends to voluntarily acquire the outstanding 49.01 percent of its Indian subsidiary, Atlas Copco Ltd. A company official said the offer is in line with Atlas Copco’s global philosophy of owning 100 percent holding in its subsidiaries.
Dana to sell FTE brake, clutch operations
Dana Corp. has announced it signed an agreement to sell its FTE brake and clutch actuation systems operations to HgCapital. Based in Ebern, Germany, FTE employs 2,850 people and expects sales of more than $260 million in 2002. HgCapital is a European private equity finance company.