UPDATE: Volvo Construction Equipment to Acquire Hauler Business from Terex for $160M
Volvo Construction Equipment (OTC: VOLVY) has announced that it has agreed with the Terex Corporation (NYSE: TEX) to acquire the hauler manufacturer Terex Equipment Ltd including related assets and intellectual property. The deal, which is subject to regulatory approval, includes the main production facility in Motherwell, Scotland and two product ranges that offer both rigid and articulated haulers. It also includes the distribution of haulers in the U.S. as well as a 25.2% holding in Inner Mongolia North Hauler Joint Stock Co (NHL), which manufactures and sells rigid haulers under the Terex brand in China. NHL is listed on the Shanghai Stock Exchange.