TT aims to leverage purchased firm's dominance in security design, such as blast mitigation in Europe, to strengthen offerings in the U.S. and globally.
With signs of improvement in global equipment sales, including a few bright spots in the U.S., the equipment market saw consolidation and new developments in autonomous equipment in 2016.
With a self-imposed deadline looming, Terex Corp. has called off talks with Zoomlion Heavy Industry Science and Technology Co. for the China-based equipment maker to acquire the U.S.-based company. Terex had announced on May 16 that it would be selling its material-handling and port-solutions [MHPS] business to Finland-based Konecranes for $1.3 billion, and that deal is expected to close in January 2017.
Expecting to gain in an oil-services market that is showing signs of a recovery, sector engineering- construction giant Technip, Paris, and FMC Technologies, Houston, are set to merge next year to create an estimated $20-billion megafirm, the companies announced on May 19.
Equipment manufacturer Terex Corp. announced May 16 that it is ending its plan to merge with Konecranes, and will instead sell its material-handling and port solutions [MHPS] unit to the Finnish-based company for $1.3 billion.
China-based equipment manufacturer Zoomlion Heavy Industry Science and Technology Co. has made an unsolicited offer to acquire U.S.-based Terex Corp., possibly upsetting a merger of the company with Finland-based Konecranes.
