Tadano has now completed its acquisition of Demag Mobile Cranes.
In February, Terex Corporation agreed to sell its Demag Mobile Cranes business to Tadano Ltd. for about $215 million. Included in the transaction were the manufacturing facilities in Zweibrucken, Germany as well as multiple sales and service locations.
“The transaction brings together two of the top names in the lifting equipment industry – each well known for safety, quality, innovation, and performance,” Koichi Tadano, president and CEO of Tadano said in an open letter to its customer base.
“The Tadano and Demag brands now leverage a long, combined history of manufacturing and lifting experience. Working together, we will push forward, innovate, and contribute to the success of our customers worldwide.”
The Demag Mobile Cranes acquisition is a step toward achieving Tadano’s goal of becoming a global leader in the lifting equipment industry.
“We will continue to work tirelessly to be your premier crane choice and satisfy your lifting needs by providing you with safe, high-quality, efficient, and innovative equipment and technology,” Tadano said.
With the acquisition finalized, both companies will continue to operate with a business-as-usual approach. As well, in most cases, Demag customers will continue to work with the same Demag sales, service and parts contacts. Email addresses, however, will change from @terex.com to @tadano.com.
“As our journey with Demag begins, we are committed to providing you with a seamless transition, so you can get on with your important business, smoothly and successfully,” Tadano said.
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He added the strengths of both companies will be leveraged, including crane design, procurement, production and sales support.“This change serves as an opportunity to combine our strength to better serve your lifting business,” Tadano said.
“Given … our approach of continuously improving manufacturing, our affinity with Demag is very high, from the foundation up.”Alongside the sale of Demag, Terex plans exit the North American mobile crane product lines manufactured at its Oklahoma City facility.
Terex will continue to manufacture Terex Utilities products at its Watertown, South Dakota facilities. Terex will also continue to manufacture Terex Rough Terrain Cranes for the global market in Crespellano, Italy, Terex tower cranes in Fontanafredda, Italy and Terex pick and carry cranes in Brisbane, Australia.