Terex and Russian Machines establish joint-venture
First publishedon www.WorldHighways.com
A new joint-venture has been established between Russian Machines and Terex Roadbuilding. Under the terms of the deal, the partners will manufacture construction and roadbuilding equipment in Russia. The equipment being built, marketed and sold by the joint venture will include a number of Terex products as well as the entire range from Russian Machines. In addition, a number of products built by Terex will be marketed in Russia. This move follows an announcement of plans to form a joint venture in late 2011. Ron DeFeo, chairman and CEO of Terex said, “The Russian and CIS remain long-term attractive markets and the demand for fundamental infrastructure upgrade across the region is clear. This Joint Venture allows us to be closer to the customer and provide localised products to an increasingly important customer base.”
Russian Machines is part of Basic Element Company. It comprises industrial and engineering assets in such industries as automotive OEM, automotive components, rail industry, aircraft OEM, military vehicles and road construction machinery.