Newhouse-based Terex Equipment Limited has now officially become part of the Volvo Group in a £160 miilion deal.
Terex has been manufacturing off-highway trucks since 1950 and still makes them along with rigid and articulated trucks which are used in mining, quarry and construction applications around the world, employing 450 staff.
Martin Weissburg, president of Volvo Construction Equipment, said; “It wasn’t just the products or the production facility that most attracted us to Terex Trucks – it was the people.
“The product know-how within Terex Trucks worldwide is impressive, while the Newhouse facility is particularly respected for its highly skilled workforce.”
Terex Equipment Ltd will adopt the brand name Terex Trucks and will become part of Volvo CE, the construction equipment manufacturing division of the Volvo Group.
The move was first announced in December as Volvo looked for a route to improve its penetration in core earthmoving markets.
At the same time it can now extend its reach in the light mining sector through the addition of a five-strong line-up of rigid haulers with payloads from 32 to 91 tons.
A further three models of articulated trucks, from 25 to 38 tons, will join the Volvo portfolio and although the Swedish manufacturer already builds its own,it’s understood not to be concerned about cross-brand conflict.