Terex MP Acquires ProAll, Canada's Leading Producer of Volumetric Mixers for Concrete

Rhea-AI Summary

Terex Materials Processing has acquired ProAll, a Canadian producer of mobile volumetric concrete mixers, to enhance its product offerings in the concrete market. This acquisition enables Terex to eliminate delivery time concerns by providing make-to-order concrete on-site, tailored to specific job requirements. The deal expands Terex's presence in the US and international markets, adding a new revenue stream and opportunities for growth. Kieran Hegarty, President of Terex MP, highlighted the significant potential for expanding into new markets.

Positive

• Expansion into US concrete markets enhances market presence.
• ProAll's mobile volumetric mixers offer competitive advantages in on-site concrete delivery.
• New revenue opportunities in international markets through ProAll's existing network.

Negative

• None.

NORWALK, Conn., Aug. 1, 2022 /PRNewswire/ -- Terex Materials Processing (MP), a global leader in aggregate, environmental, concrete, lifting, and handling machinery, today announced the acquisition of the Canadian company ProAll, a specialist producer of mobile volumetric concrete mixers.

ProAll's volumetric mixers provide make-to-order, mobile concrete delivery that eliminate concerns over delivery time between a concrete plant and a job site by delivering ingredients that are mixed locally and to the exact specifications of each job. 

The addition of these products will enable Terex to expand its presence in US concrete markets, where ProAll joins Terex Advance, the US industry leader in front discharge mixer trucks, and Terex Bid-Well, the US leader in roller pavers for bridge and canal work, as businesses in the MP portfolio. ProAll also sells to non-US markets, adding a new dimension to the current portfolio and creating significant new opportunities for international growth.

Kieran Hegarty, President Terex Materials Processing commented: "ProAll will provide us with exciting prospects to expand into new markets and grow our presence in concrete. We look forward to embarking on this journey together with our new colleagues in Alberta and Texas."

About Terex:

Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact 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, Australia and Asia and sold worldwide. We engage with customers through all stages of the product life cycle, from initial specification and financing to parts and service support. More information about Terex is available on: www.Terex.com.   

Contact Information:

Terex Corporation
Julie Beck
Senior Vice President, Chief Financial Officer
(203) 200-5979
InvestorRelations@terex.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/terex-mp-acquires-proall-canadas-leading-producer-of-volumetric-mixers-for-concrete-301596513.html

SOURCE Terex Corporation

FAQ

What is the significance of Terex's acquisition of ProAll?

The acquisition strengthens Terex's foothold in the concrete market by adding mobile volumetric mixers, facilitating on-site concrete production.

How will the ProAll acquisition impact Terex's market position?

It will enhance Terex's presence in the US and enable expansion into international markets, potentially increasing revenue.

When was the acquisition of ProAll announced?

The acquisition was announced on August 1, 2022.

What products does ProAll specialize in?

ProAll specializes in mobile volumetric concrete mixers, allowing for customized concrete delivery at job sites.