Industry Watch
Published in: Pacific Builder and Engineer
Date: 3/6/2006
Westport, Conn. – Terex Corp. has completed the acquisition of Halco Holdings Limited, including its subsidiaries Halco Drilling International, Halco America, Halco Drilling Equipment in Australia, and Halco Drilling in Ireland.
Halco designs, manufactures and distributes down-the-hole drill bits and hammers for drills. The Halco business will be operated in conjunction with the TEREX Reedrill operations of Terex. TEREX Reedrill is a manufacturer of drilling equipment for the mining, construction and utility industries.
New Philadelphia, Ohio – Alamo Group Inc. has acquired Gradall from JLG Industries Inc., which had owned the company since 1999.
Alamo becomes the ninth owner of Gradall excavators. Distinguished by their telescoping, tilting booms, Gradall excavators are known for their abilities to handle mass excavation, grading and sloping, demolition, and waterway cleanup.
Alamo Group is involved in the design, manufacture, distribution, and service of equipment for right-of-way maintenance and agriculture. Products include tractor and truck-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements, front-end loaders, backhoes, and related aftermarket parts and service.
Purchase price was $39.4 million, subject to adjustments, according to terms of the Asset Purchase Agreement, and is being funded by Alamo’s expanded line of credit. The sale includes the 430,000-square-foot Gradall manufacturing facility in New Philadelphia and all related equipment, machinery, tooling, and intellectual property.
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