Westport's Terex to sell road-building equipment unit
Terex, a Westport-based manufacturer of heavy construction equipment, will sell its road-building operations in Brazil to the Fayat Group (Bomag and Marini) for an undisclosed price. It will also divest certain mobile road-building product lines in Oklahoma City.
Product lines being sold include asphalt plants and pavers made in Brazil and asphalt paver, reclaimer stabilizer and material transfer product lines produced in Oklahoma.
The deal, expected to close in the first quarter, lets publicly-traded Terex exit a business that has not been as profitable as hoped when it added road-building equipment to its portfolio in August 2001.