Terex company acquired

FIL FILIPOV, a strategic private investor and sole shareholder of Atlas Maschinen, has acquired the Atlas Cranes & Excavators from Terex Corporation. The newly-formed German company Atlas Maschinen is headquartered in Delmenhorst, Germany, and Filipov will serve as the chairman of Atlas Maschinen Group. "Atlas Cranes & Excavators have strong industry recognition, wide distribution network and quality manufacturing capabilities.
February 7, 2012
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FIL FILIPOV, a strategic private investor and sole shareholder of 2346 Atlas Maschinen, has acquired the Atlas Cranes & Excavators from Terex Corporation.

The newly-formed German company Atlas Maschinen is headquartered in Delmenhorst, Germany, and Filipov will serve as the chairman of Atlas Maschinen Group.

"Atlas Cranes & Excavators have strong industry recognition, wide distribution network and quality manufacturing capabilities.

The Atlas brand name and Atlas colours will be used, and no changes will be made to the current distribution network. Our main objective is to focus on quality, customer service, cost improvements, lead time reductions and to expand our product offerings," said Filipov.

As a strategic initiative, Atlas will be offering complete products, including special adaptations and attachments.

Filipov added: "We will be looking for additional work from outside customers, to better utilise the capacity of our cylinder and fabrication factory in Vechta, Germany. No factory closings or headcount reductions are planned".

Atlas will continue manufacturing excavators in Germany at Ganderkesee; cranes at Delmenhorst and cylinders at Vechta.
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