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Demag Cranes Group Becomes Terex Material Handling & Port Solutions

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Demag Cranes & Components, a Terex Corporation Company

29201 Aurora Road, Cleveland, OH, 44139, USA

Original Press Release

Demag Cranes Group Becomes Terex Material Handling & Port Solutions

Press release date: November 30, 2012

· Industrial cranes and port technology business organized in two business groups
· The Demag brand name will continue to be used, joining Terex Corporation's portfolio of brands
· Gottwald is now Terex® Gottwald

The integration of Demag Cranes Group into Terex is making good progress and becoming more visible to the outside world. Terex has held a majority share in the company since August 2011, and a domination and profit & loss transfer agreement came into effect in April 2012. Since then, Demag Cranes has been integrated into Terex as a fifth business segment named "Material Handling & Port Solutions" operating alongside the other Terex segments of Aerial Work Platforms, Construction, Cranes ( mobile and tower cranes) and Materials Processing (crushing and screening equipment). Demag Cranes Group will operate under the Terex Material Handling & Port Solutions name in its dealings with customers and the market, replacing the Demag Cranes identity.

The new Terex Material Handling & Port Solutions business segment consists of two business groups. The Material Handling business group comprises the industrial cranes business along with its associated services in most countries. The globally renowned Demag brand will be extended to include the tagline "A Terex Brand" and continues to stand for the industrial cranes, components and related services.

The Port Solutions business unit combines the Gottwald Port Technology business of Demag Cranes Group with the port equipment business of Terex. The Gottwald brand has been changed to Terex® Gottwald to reflect the integration of the two brands which are both renowned in the port industry. With its combined product portfolio, Terex Port Solutions offers its customers a broad range of manual, semi-automated and automated solutions in the port technology sector making it one of the leading suppliers in this industry.

Aloysius Rauen, President of the Terex Material Handling & Port Solutions segment explains: "The integration of Demag Cranes Group into Terex Corporation is a strategic gain for everybody. Our customers benefit from a broader range of products that offer real added value. To serve them even better, we work closely together with the other Terex segments to gain access to markets in various regions, for example, or to utilise existing sales channels. The economies of scale alone have enabled us to achieve considerable savings in our purchasing activities, which ultimately benefits our customers."

About Terex Material Handling & Port Solutions
Through its Material Handling & Port Solutions business segment, Terex Corporation is one of the world's leading suppliers of industrial cranes, crane components and services under the Demag brand, as well as port technology with a broad range of manual, semi-automated and automated solutions under the Terex® and Terex® Gottwald brands. Terex Material Handling & Port Solutions manufactures in 16 countries on five continents and operates a sales and service network in more than 60 countries.

About Terex
Terex Corporation is a diversified global manufacturer of a broad range of equipment that is focused on delivering reliable, customer-driven solutions for many applications, including the construction, infrastructure, quarrying, mining, shipping, transportation, refining, energy, utility and manufacturing industries. Terex reports in five business segments: Aerial Work Platforms; Construction; Cranes; Material Handling & Port Solutions; and Materials Processing. Terex offers financial products and services to assist in the acquisition of equipment through Terex Financial Services. More information can be found at www.terex.com.

Contact for business and financial media
Britta Heyn
Corporate Communication Manager
Phone: +49 (0) 211 7102-1020
Email: britta.heyn@demagcranes.com

Contact for investors and analysts
Tomas Gelston
Vice President, Investor Relations
Tel.: +1 203 222 5943
E-Mail: thomas.gelston@terex.com

Contacts for product and trade media
Port Solutions business unit
Peter Klein
Port Solutions Marketing
Phone: +49 (0) 211 7102-3355
Email: peter.klein@demagcranes.com

Material Handling business unit
Christoph Kreutzenbeck
Material Handling Marketing
Phone: +49 (0) 211 7102-3907
Email: christoph.kreutzenbeck@demagcranes.com

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