Terex Industrial Holding AG submits request to initiate squeeze out procedure
Düsseldorf, 24. July 2013
Today, Terex Industrial Holding AG, Düsseldorf, submitted to the Management Board of Terex Material Handling & Port Solutions AG, Düsseldorf, a formal request according to sec. 327a German Stock Corporation Act (Aktiengesetz-AktG) for a resolution to be passed at a general meeting of the company’s shareholders to transfer shares held by the remaining shareholders (minority shareholders) to Terex Industrial Holding AG as majority shareholder in return for an adequate cash compensation (so-called squeeze out). The relevant resolution is to be passed at a separate extraordinary general meeting of Terex Material Handling & Port Solutions AG which is expected to take place before the end of 2013.
About Terex Material Handling & Port Solutions
Through its Material Handling & Port Solutions business segment, Terex Corporation is one of the world’s leading suppliers of industrial cranes, crane components and services under the Demag brand, as well as port technology with a broad range of manual, semi-automated and automated solutions under the Terex® and Terex® Gottwald brands. Terex Material Handling & Port Solutions manufactures in 16 countries on five continents and operates a sales and service network in more than 60 countries.
Terex Corporation is a diversified, globally active manufacturer of machinery and equipment. A core activity of Terex Corporation is the provision of reliable, customer-driven solutions for many applications, including the construction, infrastructure, shipping, transportation, quarrying, mining, refining, energy, utility and manufacturing industries. Terex reports in five business segments: Aerial Work Platforms, Construction, Cranes, Material Handling & Port Solutions and Materials Processing. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. More information can be found at www.terex.com.
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Conditions for forward-looking statements
This press release contains forward-looking statements relating to the business, financial performance and earnings of Terex Material Handling & Port Solutions AG and its subsidiaries and associates. Forward-looking statements are based on current plans, estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate and which in general are beyond the control of Terex Material Handling & Port Solutions AG. Consequently, actual developments as well as actual earnings and performance may differ materially from those which are explicitly or implicitly assumed in the forward-looking statements. Terex Material Handling & Port Solutions AG does not intend or accept any obligation to publish updates of these forward-looking statements.