Demag Cranes Group to become Terex Material Handling & Port Solutions
Little more than a year after Terex Corp’s German subsidiary, Terex Industrial Holding AG, of Dusseldorf, acquired Demag Cranes AG, the Demag Cranes Group will become Terex Material Handling & Port Solutions.
The integration of Demag Cranes Group into Terex has made progress since Terex initially held a majority share in the company since August 2011, then a domination and profit and loss transfer agreement came into effect in April 2012.
Since then, Demag Cranes has been integrated into Terex as a fifth business segment named Material Handling & Port Solutions operating alongside the other Terex segments of Aerial Work Platforms, Construction, Cranes (mobile and tower cranes) and Materials Processing (crushing and screening equipment). Demag Cranes Group will operate under the Terex Material Handling & Port Solutions name in its dealings with customers and the market, replacing the Demag Cranes identity.
The new Terex Material Handling & Port Solutions business segment consists of two business groups. The Material Handling business group comprises the industrial cranes business along with its associated services in most countries. The globally renowned Demag brand will be extended to include the tagline “A Terex Brand” and continues to stand for the industrial cranes, components and related services.
The Port Solutions business unit combines the Gottwald Port Technology business of Demag Cranes Group with the port equipment business of Terex. The Gottwald brand has been changed to Terex Gottwald to reflect the integration of the two brands which are both renowned in the port industry. With its combined product portfolio, Terex Port Solutions offers its customers a broad range of manual, semi-automated and automated solutions in the port technology sector making it one of the leading suppliers in this industry.
Aloysius Rauen, president, Terex Material Handling & Port Solutions,said: “The integration of Demag Cranes Group into Terex Corporation is a strategic gain for everybody. Our customers benefit from a broader range of products that offer real added value. To serve them even better, we work closely together with the other Terex segments to gain access to markets in various regions, for example, or to utilise existing sales channels. The economies of scale alone have enabled us to achieve considerable savings in our purchasing activities, which ultimately benefits our customers.”