REDMOND, WASH. - The Terex Aerial Work Platforms (AWP) segment of Terex Corporation (NYSE: TEX) announced the sale today of the Terex® power buggy product line to Indy Equipment, a premier equipment dealer based in Independence, Ohio. The sale to Indy Equipment was for an undisclosed amount.
The power buggy product line consists of two models: 16ft³ (453 L) and 21ft³ (595 L) capacities. The products feature simultaneous dump and hydrostatic drive capability for feathering loads in forward and reverse. Power is supplied through a heavy-duty hydraulic pump and two high-efficiency drive motors. Offering the industry's largest and most efficient wheel motors, Terex® power buggies allow for higher speeds and more reliable braking.
"We made the decision to close the Terex® power buggy line in September, 2009 as part of a larger strategy to focus on our core aerial competencies," said Brad Allen, Global General Manager, Scissors, Portables and Light Towers, Terex AWP. "Indy Equipment is a respected dealer in the industry and is the right fit to sell and market the power buggy product line."
Parts and warranty support for all units will transition to Indy Equipment effective February 15, 2010.
Terex Corporation is a diversified global manufacturer operating in four business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, and Terex Materials Processing & Mining. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, energy, refining, and utility industries. Terex offers a complete line of financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. More information on Terex can be found at www.terex.com.