Terex Corp., Westport, Conn., announced that it has acquired 33 percent of privately-held Recom S.r.l. and simultaneously entered into a long-term agreement to acquire the rest of the company. Located in Belluno, Italy, Recom designs and manufactures luffing-jib tower cranes that are distributed exclusively by Terex.
“This investment helps ensure long-term stability for an important part of our tower crane product portfolio, and reflects our commitment to strengthen and build our tower crane business,” said Rick Nichols, president of Terex Cranes. “Recom has a demonstrated culture of innovation that will contribute to our new product development, and we are pleased to make this commitment to the company and its team members with whom we have worked for several years.”