The newly named Terex Trucks is committed to its customers, products and dealers, according to the company’s managing director, Paul Douglas, two months after its acquisition by Volvo Construction Equipment (Volvo CE).
In his first public announcement since the acquisition was completed on June 1, Douglas said Terex Trucks would continue to operate as an independent business while at the same time drawing on the resources and expertise of its parent company.
“Our new ‘owned but independent’ status gives us the best of both worlds,” said Douglas. “We retain our organizational structure-with the added benefits that being part of a global leader in the construction equipment industry brings with it.”
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| Paul Dougles, managing director of Terex Trucks, says the truck builder will continue to operate as an independent business while at the same time drawing on the resources and expertise of its new parent company, Volvo Construction Equipment. |
Douglas also used the occasion to clarify the intended future of the company. “The Terex Trucks name will remain for the long term and we remain fully committed to our entire customer base and product range. That means both rigid and articulated haulers will play important roles in the company’s future, and we will continue to support the entire field population with parts and service. We are also committed to retaining our dealer partners, our existing production footprint, and our skilled and committed workforce. With a clear leadership strategy within the construction and mining equipment segments, Volvo CE is proving to be the perfect partner for us.”
Terex Trucks’ new owner also seems happy with its purchase. Andrew Knight, vice president of strategy and business development, said, “Volvo CE has made no secret of its long-standing wish to offer customers a rigid hauler option. Terex Trucks products are well respected in the market and there is a large field population to support its parts business. Both rigids and articulated haulers provide a strong complement to Volvo CE’s product range, and since the deal closed we have had greater insight into the strengths of the business-reinforcing our view that Terex Trucks is a good strategic fit.
“Volvo CE will apply only a ‘light touch’ approach to [Terex Trucks],” Knight explained. “That said, we acquired this business with a very clear vision for the future with a strong desire to grow the business. As such, we will be providing strong support in terms of resources and investment wherever it is required.”
“Volvo CE will apply only a ‘light touch’ approach to [Terex Trucks],” Knight explained. “That said, we acquired this business with a very clear vision for the future with a strong desire to grow the business. As such, we will be providing strong support in terms of resources and investment wherever it is required.”
“Becoming part of Volvo CE is also well timed in terms of market outlook,” added Douglas. “Although the mining sector is currently depressed, the benefits of our new investment and cooperation relationship with Volvo CE looks set to coincide with the cyclical upswing of the segment, further strengthening the acquisition rationale. Terex Trucks as part of Volvo CE provides a mutually beneficial best of both worlds for both companies.”
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| Acquisition of the Terex truck line allows Volvo Construction Equipment to now offer both rigid and articulated dump truck product lines to its customers. |
