Terex buys Hydra Platforms, under-bridge access equipment.
By Maria Hadlow25 April 2008
Terex Corporation has acquired Hydra Platforms, the South Carolina, USA, based manufacturer of under bridge access equipment: terms have not been disclosed.
Hydra Platforms makes truck and trailer mounted, self erecting, under-bridge access equipment, used for bridge construction, maintenance and inspection. The company will become part of the Terex Road building segment, which also includes truck mounted booms, and will work with Terex's Bid-Well subsidiary. Bid-Well is a major seller and service provider of bridge paving equipment in the USA.
"Hydra is a leader in a growing market for under-bridge access," said George Ellis, vice president and general manager of Terex Roadbuilding. "More than 93% of bridges in the United States were built before 1980 and 25% have been designated as structurally deficient or functionally obsolete. As a result, more funds are being committed for bridge inspection and repair. Hydra Platforms' products provide a cost effective tool for bridge contractors, engineers and state departments of transportation."
Mr Ellis said that Hydra Platforms was complementary to the Bid-Well organisation and through a common customer base Terex hoped to increase Hydra Platforms' market penetration.
Terex will continue to manufacture Hydra Platforms' products at its relatively new Rock Hill SC plant. Current head of the company, Garth McGilliwie Junior, will continue to lead the Hydra Platforms team while Garth McGilliwie Senior, the company founder, will continue with the business as a consultant.
Hydra Platforms are already sold outside North America and the company has won a Presidential E award for its exporting activity. A Terex spokes man said, "it is too early to say whether,at some point down the road, that this equipment may be made at an overseas location. For now at least, the plan is to work to grow this business from the existing plant, which is modern and has its own on-site testing facility."