Terex Materials Processing, a business segment of Terex Corporation (NYSE: TEX) has announced the acquisition of the assets related to the Environmental Technology product lines of Neuson Ecotec GmbH (an Austrian company).
This acquisition marks further expansion of the Terex Environmental Equipment (TEE) business unit, closely following the purchase of the assets of Continental Biomass Industries (CBI) in April. TEE, part of the Terex Materials Processing segment, has been serving the wood, biomass, and recycling industries since 2011 and has already delivered meaningful growth. The acquisition of the Neuson Ecotec Environmental Technology products will add chipping, shredding, screening, and composting products that will accelerate development of a global dealer network while adding a facility in Linz, Austria that can support production requirements in continental Europe. Terex is not acquiring the Forestry division of Neuson Ecotec GmbH, which will transition to Neuson Forest after closing.
The Neuson Ecotec products that Terex is acquiring will now be part of a global portfolio of distribution-oriented products that will soon be rebranded as Terex Ecotec. After combining these products with existing Terex products, products in development, and some of the products recently acquired from CBI, the Terex Ecotec line will be among the most comprehensive in the industry. Terex will bring these products to market through a network of world class dealers and with the support of Terex resources and infrastructure around the world. The scope and depth of this offering is unmatched by other competitors in the in the wood, biomass, and recycling markets.
According to TEE Worldwide Business Director Tony Devlin, “The addition of the Terex Ecotec Environmental Technology product lines will add further depth and breadth to an already significant portfolio of products that are managed by TEE. We are excited to add these products to our portfolio and to welcome legacy Neuson Ecotec personnel to the Terex Environmental Equipment team.”