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Stock and Asset Purchase Agreement Signed with Terex Corporation for Acquisition of its Demag Crane Business

February 25, 2019 - Tadano Ltd. announces the approval by its board of directors to enter into an agreement with Terex Corporation, headquartered in the state of Connecticut in the United States, for a stock and asset acquisition of the Demag Brand Crane Business, headquartered in Germany. The agreement includes the stock acquisition of 8 subsidiaries of Terex, as well as the acquisition of certain assets related to the Demag Business.

Through the acquisition of Demag, Tadano further seeks to meet customer needs with the addition of lattice-boom crawler cranes to our product lineup, as well as the enhancement of our line of all terrain cranes. We aim for a greatly expanded global presence as we strive toward our goal of becoming No. 1 worldwide in the lifting equipment industry.

We plan to complete this acquisition, upon receipt of all necessary approvals in each related country, sometime during mid-2019. At the current time, the information contained in the release is the entirety of what we are able to disclose. Concrete plans for product branding and development will be announced at a later date and time.

This acquisition is part of Tadano’s efforts to realize our long-term goal of becoming No. 1 worldwide in the lifting equipment industry. In addition to these new efforts, Tadano will continue providing the products and services that our valued customers have come to trust and demand.

TADANO Ltd., Japan, is a group of companies specialising in the development and production of hydraulic mobile cranes and lifting devices. With 3,200 employees at 86 points of sale and service, 20 subsidiaries, and five production sites (in Japan, America, and Germany), the TADANO Group is an internationally active enterprise. In the fiscal year 2017/2018, the company’s turnover totalled approximately 1.49 billion euros.

All the TADANO products are characterised by the combination of high Japanese quality standard and German engineering skills and ensure reliability and durability.