Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

Terex Corporation, Westport, CT, USA (Terex), intends to acquire the control over Demag Cranes AG, Düsseldorf, Germany (Demag), by way of a public takeover offer for the acquisition of shares in Demag in accordance with the German Securities Acquisition and Takeover Act.

Terex is a diversified global manufacturer of machinery products headquartered in the United States and publicly listed on the New York Stock Exchange. Terex is focused on providing reliable customer-oriented solutions. It serves customers for a wide range of industries, including construction, infrastructure, quarrying, mining shipping, transportation, refining, energy and utilities industries. Terex’s strategy is focused on developing a portfolio of highly successful niche businesses that enhance its customers' productivity and builds infrastructure that improves the quality of people's lives.

Demag is a German stock corporation. The Demag shares are listed on the Regulated Market of the Frankfurt Stock Exchanges (Prime Standard) as well as in the OTC Market of various regional stock exchanges in Germany and are traded on the electronic trading platform XETRA. Demag focuses its business activities on the development, planning, production, distribution, and marketing of machines, installations, and other trade goods, as well as the provision of services in the area of transport methods and port technology, including cranes, automatic port systems, and similar products as well as their components and related software solutions; the management also includes providing services to companies of the group.