Terex Completes Sale of Tower and Rough Terrain Cranes Businesses

Rhea-AI Summary

Terex (NYSE: TEX) completed the sale of its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA on Nov 3, 2025. The divestiture includes manufacturing operations in Fontanafredda and Crespellano, Italy, plus the Terex North America Cranes service and support operation in Wilmington, North Carolina, United States. The transaction excludes Terex's Franna pick and carry cranes business in Australia. Management said the move aligns with Terex's strategic focus on reducing cyclicality and accelerating growth, and noted Raimondi's position as a Milan-based lifting conglomerate that will operate the acquired businesses going forward.

Positive

• Sale completed on Nov 3, 2025
• Includes two Italian manufacturing facilities: Fontanafredda and Crespellano
• Transfers Wilmington, North Carolina service and support operation to Raimondi
• Management cites reduced cyclicality and accelerated growth focus

Negative

• Transaction excludes Franna pick and carry cranes business in Australia
• Company divests tower and rough terrain cranes product lines

NORWALK, Conn., Nov. 3, 2025 /PRNewswire/ -- Terex Corporation (NYSE: TEX) today announced completion of its sale of Terex® Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA, a global manufacturer of cranes based in Milan, Italy. Included in the divestiture are manufacturing operations and facilities in Fontanafredda and Crespellano, Italy, and the Terex North America Cranes service and support operation in Wilmington, North Carolina, United States. The transaction does not include Terex's Franna® pick and carry cranes business based in Australia.

"For Terex, this move aligns with our strategic focus on reducing cyclicality and accelerating the Company's growth," said Simon Meester, Terex President and Chief Executive Officer. "At the same time, we believe these Italian cranes businesses will strategically benefit from becoming part of Raimondi, a Milan-based lifting conglomerate that is a leader in the construction and heavy lifting sectors. We thank our cranes team members for their contributions to Terex and the industry, and we wish them great success in the years ahead."

About Terex 
Terex Corporation is a global industrial equipment manufacturer of materials processing machinery, waste and recycling solutions, mobile elevating work platforms (MEWPs), and equipment for the electric utility industry. We design, build, and support products used in maintenance, manufacturing, energy, minerals and materials management, construction, waste and recycling, and the entertainment industry. We provide best-in-class lifecycle support to our customers through our global parts and services organization, and offer complementary digital solutions, designed to help our customers maximize their return on their investment. Certain Terex products and solutions enable customers to reduce their impact on the environment including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, and Asia Pacific and sold worldwide. For more information, please visit www.terex.com. 

About Raimondi Cranes

Raimondi Cranes, headquartered in Milan, Italy, is a heritage manufacturer of scalable heavy lifting solutions with a legacy rooted in Italian engineering excellence. Founded in 1863, Raimondi has established a global presence, delivering more than 17,000 cranes to clients globally.

With a focus on quality, innovation, and customer satisfaction, Raimondi continues to shape the construction and heavy lifting sectors, offering cutting-edge solutions that meet the evolving demands of the industry. Under the umbrella of Arada Industries, part of Arada Group, Raimondi is poised for further growth as a leading global lifting conglomerate.

For more information, please visit www.raimondi.com

Terex Contact Information
Derek Everitt
VP Investor Relations
Email: InvestorRelations@Terex.com

Trade News Media
Michelle Murphy
Group Marketing Manager, Terex Materials Processing
+44 7810 441386 Email: Michelle.Murphy@terex.com

Raimondi Contact Information
Valentina Pivetta
Marketing and Communications Manager
Email: media@raimondi.com

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SOURCE Terex Corporation

FAQ

What did Terex (TEX) announce on November 3, 2025 regarding its cranes businesses?

Terex announced completion of the sale of its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA on Nov 3, 2025.

Which facilities were included in Terex's sale to Raimondi Cranes for TEX shareholders?

The sale includes manufacturing operations in Fontanafredda and Crespellano, Italy, plus the Wilmington, North Carolina service operation.

Did the Terex (TEX) transaction include the Franna pick and carry cranes business?

No. The transaction explicitly excludes Terex's Franna pick and carry cranes business based in Australia.

How did Terex management frame the strategic reason for the sale of cranes businesses (TEX)?

Management said the move aligns with Terex's strategy to reduce cyclicality and accelerate the company's growth.

Who acquired Terex's Tower and Rough Terrain Cranes businesses in the TEX deal?

Raimondi Cranes SpA, a Milan-based global crane manufacturer, acquired the businesses.