Japanese crane manufacturer Tadano today announced that it has completed the acquisition of the Demag mobile crane business from its US owner, the Terex Corporation. The total cost of the deal is approximately US$215 million which Tadano will meet from a combination of its own cash reserves and borrowed funds.
In a statement issued this morning, Tadano President and CEO Koichi Tadano said: “The Tadano Group’s long-term goal is to become the global leader in the lifting equipment industry and the Demag Mobile Cranes acquisition is one vital step toward achieving that goal.”
He promised that the transition will be seamless: “Our customers can expect that they will be able to carry out business as usual – right from the very start.
“For the most part you will continue to work with the same Demag sales, service and parts contacts as you have up until now. Only the last part of their respective email addresses will change from ‘@terex.com’ to ‘@tadano.com’.”
A company statement for investors added: “Tadano further seeks to meet customer needs with the addition of lattice-boom crawler cranes to our product line-up as well as the enhancement of our line of all terrain cranes.”
Tadano celebrates the 100th year of its founding this month. For the full official statements, go here https://www.tadano.com