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Thursday, August 19, 2010 Port equipment company’s parent expands in China Terex Corp. is expanding its presence in China as is evident from these two announcements — its move to acquire a 65% control of privately held, Jinan-based crane maker Shandong Topower Heavy Machinery Company and a joint venture agreement with Fujian South Highway Machinery Company to establish a mobile materials processing equipment manufacturing in Quanzhou, China. Shandong Topower Heavy Machinery Company manufactures lattice boom crawler cranes in the 70 to 360 ton class. The acquisition of Topower will strengthen Terex’s position in the crawler crane market in China. Terex will be a 60% owner in the materials-processing joint venture with Fujian South Highway Machinery Company, which will manufacture jaw crushers, cone crushers, impact crushers and screens for aggregates, mining and material recycling applications. Both the acquisition and joint venture are expected to close by the end of 2010. These strategic moves would further strengthen Terex’s foothold in China, where it already runs the Terex Port Equipment facility in Xiamen and is on the verge of completing its Aerial Work Platforms factory in Changzhou. Westport, Connecticut-based Terex Corporation is a global manufacturer of a broad range of equipment for the construction, infrastructure, quarrying, mining, shipping, transportation, refining, energy and utility industries. The company’s manufacturing facilities are located in the U.S, Canada, Europe, Australia, Asia and South America. It operates through four business segments: Aerial Work Platforms, Construction, Cranes, and Materials Processing. -Dailymarkets.com For the full story: www.dailymarkets.com More Techwire stories World’s first hybrid ship-assist vessel to get a sibling Savi Technology hires first CTO Matson CIO’s five guidelines to moving apps to the cloud Report: Apple testing “near field communication” for next gen iPhone	Click to browse past stories on the se topics: Logistics Ports & Infrastructure Economic Outlook Environmental Impact Technology
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Port equipment company’s parent expands in China

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