Terex Corp. last week announced that it has acquired a controlling share of its ongoing joint venture, Terex Vectra Equipment, which builds loader-backhoes, skid-steer loaders and compaction rollers at a facility occupying 36 acres in Greater Noida, Uttar Pradesh, India. Terex now owns 70 percent of the venture, which began operations in 2003.
“As India’s impressive and steady infrastructure development has progressed, Terex Vectra has seen a significant increase in sales, particularly in loader-backhoes, a large and rapidly growing market in that country,” said Robert Isaman, president, Terex Construction. “The acquisition of majority ownership of Terex Vectra is a logical step in our strategy of expanding the Terex market presence in India and we are encouraged by our early successes. The increased ownership also provides Terex with control over operations and manufacturing, which will allow us to accelerate our integration strategy and business systems implementation.”
Based in Westport, Conn., Terex Corp. is a diversified global manufacturer with 2006 net sales of $7.6 billion. Terex operates in five business segments: Aerial Work Platforms, Construction, Cranes, Materials Processing & Mining, and Roadbuilding, Utility Products and Other.
