07 March 2008

Terex has announced it will buy compact tracked loader manufacturer ASV for US$ 488 million (€ 332 million). This equates to US$ 18 (€ 12,2) per share, a +46% premium on ASV's closing price on the last trading day before the announcement.

“ASV is a leader in compact track loader technology and the global reach of Terex, we see tremendous opportunity for expanding ASV product sales,” said Terex chairman & CEO Ron DeFeo. He went on to say that the acquisition, which is expected to close in the first quarter of the year, is expected to add US$ 200 – 250 million (€ 135 – 170 million) to Terex's sales per year.

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