Japanese manufacturer Yanmar has completed its acquisition of Terex Compact Germany GmbH from Terex Corporation, at a cost of US$60 million.

The purchase includes the Terex Corporation businesses carrying out the production and sale of wheel loaders, excavators, wheel excavators, and other products in Europe, as well as the production, sales and development facilities in Crailsheim, Germany and parts distribution centre in Rothenburg, Germany.

With the acquisition, both companies expect to significantly expand their sales and service networks in major overseas markets within Europe and North America. The acquisition will also allow Yanmar to increase its overseas construction business sales from around 30 billion yen at present to approximately 80 billion yen in 2020.

“We also plan to expand our business to approximately 130 billion yen in the mid-term for the construction business of the entire Yanmar Group, and to continue to actively develop business in the small and medium sized construction machinery market place, “said Takehito Yamaoka, president of Yanmar Holdings Co Ltd.

“We have concluded an agreement for the acquisition of Terex Compact Germany, which possesses a strong Europe-based sales network and an excellent quality family of products, including the distinguished German Schaeff series, in a move aimed at expanding the Yanmar Group’s small to medium sized construction machinery business. This will significantly expand the Yanmar Group’s small and medium sized construction machinery portfolio. I am certain that the conclusion of this agreement will lead to significant growth for the Yanmar Group’s construction machinery business,” added Mr Yamaoka.

Peter Hirschel, general manager of Terex Compact Germany GmbH, commented, “It is a great honour to be the most recent member of the Yanmar family. To have a strong parent company with Yanmar with long-term growth expectations is an outstanding situation for the Compact Germany business in our competitive market. We expect together with Yanmar to have a very interesting, complete and competitive product portfolio and an excellent dealer network. From our strong market position all customers, dealers, team members and the company will benefit.”