Terex Corporation has announced it will sell its Tower and Rough Terrain Cranes businesses to Italian manufacturer Raimondi Cranes SpA.
The deal includes Terex’s Tower Cranes facility in Fontanafredda, Italy, the Rough Terrain Cranes facility in Crespellano, Italy, and the North America service and support operation in Wilmington, North Carolina. The sale is subject to regulatory approval and is expected to close in the second half of 2025.
“We are pleased to enter into this agreement with Raimondi, a manufacturer of cranes that is widely recognised for product innovation and customer service,” said Simon Meester, Terex President and Chief Executive Officer. “We believe the Tower and Rough Terrain cranes businesses will benefit by becoming part of an Italian-based, global specialty crane company.”
Meester added that Terex is committed to supporting customers during the transition. “Our cranes team members in Italy have made substantial contributions throughout their years of service to the Company, and we thank them and wish them continued success in the future,” he said.
Luigi Maggioni, Group Chief Executive Officer of Raimondi Cranes, said the acquisition marked a major step forward. “This strategic acquisition represents a milestone in our journey to become a full-fledged global lifting conglomerate. By integrating Terex’s Tower and Rough Terrain cranes, we are creating synergies that enhance our ability to deliver a broader range of solutions, paving the way for sustainable, accelerated growth.”
For Terex, the sale supports its strategy to focus on three core segments: Materials Processing, Aerials, and Environmental Solutions. The deal does not include Franna pick and carry cranes, which will continue to be manufactured at Terex’s Eagle Farm facility in Brisbane and its Hosur plant in India.