Terex Enters Agreement to Acquire Controlling Interest of Ritz do Brazil

Terex Enters Agreement to Acquire Controlling Interest of Ritz do Brazil

Company to acquire majority stake in national leader of hot line tools and utility equipment.

Terex Corporation, a diversified global manufacturer of infrastructure and construction equipment, has entered an agreement to acquire a controlling interest in the business of Ritz do Brazil S.A. Ritz produces equipment for the construction and maintenance of energized power lines up to 800kV. This transaction will represent a growth opportunity for both Ritz and Terex, increasing the global presence of both companies in a growth product category, while also strengthening Ritz’s access to parts distribution and aftermarket support.

With headquarters in Belo Horizonte and an industrial plant in Betim, Minas Gerais, the Ritz product line includes truck-mounted single aerial devices and a broad range of tools and solutions for work on energized power lines. “Ritz has been in business since 1960 and is a trusted name in the industry,” said Garry White, Vice President & General Manager of Terex Utilities. “The acquisition is a natural extension of the Terex Utilities business and represents exciting growth opportunities for both companies.”

“This is also a further demonstration of the Terex commitment to growth in the Latin American region,” added Jacob Thomas, President of Terex Latin America. “We are very excited about the growth in our customer base, channel partners, product portfolio, and manufacturing footprint that will result from this acquisition.”

With approximately 700 employees, Ritz serves Brazil’s largest electrical utility companies. In addition, Ritz equipment is exported to approximately 60 countries. “We will continue on the successful path Ritz has taken, searching for synergies, and growing the business through product technology transfer and investment in lean production," notes White.

Emil Ritz Jr, Director-president of Ritz, is also very excited about this move. “With the union of both companies, we shall extend our strength and competitiveness in the market. We shall benefit from the expertise and experience of one of the largest global producers of construction and infrastructure equipment and machines.”

About Terex:
Terex Corporation is a diversified global manufacturer operating in four business segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, and Terex Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, energy, refining, and utility industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. More information on Terex can be found at www.terex.com.

Terex Corporation
North America Contact Information:
Joe Caywood, 605-882-5501
Marketing Manager – Terex Utilities
Fax: 605-882-1842
Email: joe.caywood@terex.com
or
Latin America Contact Information:
Daniela Lemes, + 55 11 4082-5610
Terex Latin America
Email: daniela.lemes@terex.com