# Konecranes to acquire Demag and Gottwald from Terex for EUR 1.1 billion

Konecranes is acquiring Terex's Material Handling & Port Solutions division, which includes the Demag and Gottwald brands, for approximately EUR 1.1 billion. The deal was agreed in May 2016 and has received EU and US approval.

- Type: Acquisition
- Announced: 2016-11-17
- Where: Germany
- Value: $1.20B (1.10B EUR)
- Status: announced
- Products: industrial cranes, port cranes, material handling equipment
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Konecranes](https://endata.com/companies/511.md) (acquirer)
- [Terex Corporation](https://endata.com/companies/15079.md) (partner)
- [Terex Corporation](https://endata.com/companies/15079.md) (target)
- [Demag](https://endata.com/companies/16567.md) (target)
- [Gottwald](https://endata.com/companies/19696.md) (target)

## Sources

- [handelsblatt.com](https://www.handelsblatt.com/unternehmen/handel-konsumgueter/industriekrane-hersteller-konecranes-lukrative-lastentraeger/14853210.html), 2016-11-17: "Rund 1,1 Milliarden Euro zahlen die Finnen für den bereits im Mai vereinbarten Deal."
- [konecranes.com](https://www.konecranes.com/press-releases/ministry-of-commerce-in-china-approves-konecranes-pending-acquisition-of-terexs-mhps-business), 2016-11-30: "Konecranes has received approval from the Ministry of Commerce, the competition authority in China, for its pending acquisition of Terex's MHPS business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.