Japanese mobile crane giant Tadano has announced the completion of its $215 million acquisition of the Demag Mobile Cranes business from Terex and has named the new name and leader of the acquired entity.
The acquisition deal was first announced in February and brings together two of the top names in the lifting equipment industry. According to a statement by Tadano, the two brands leverage a long, combined history of manufacturing and lifting experience and, “working together, will push forward, innovate, and contribute to the success of our customers worldwide”.
As a subsidiary of the Tadano Group, the Demag mobile cranes business’s legal entity name will be changed to Tadano Demag GmbH, the Japanese company’s statement said. Furthermore, as of 1 August, Demag is now led by Jens Ennen, who brings a long history of leadership in the mobile crane industry to his new role as CEO of Tadano Demag GmbH.
Koichi Tadano, president and CEO of Tadano Ltd.. said: “The Tadano Group’s strategy is to become the global leader in the lifting equipment industry and the premier choice with our customers. The Demag Mobile Cranes acquisition is one vital step toward achieving that goal. It expands our penetration into many markets throughout the world, adds lattice boom crawler cranes to our overall product line and enhances the capacity range of our all-terrain cranes. By working together, we can better respond to our customers’ needs and give them greater added value than ever before.”
The statement added that in addition to technological and manufacturing excellence, Demag’s mobile cranes give Tadano one of the most complete ranges of lifting equipment solutions available from a single manufacturer. It expands the product line with eight lattice boom crawler crane models with lift capacities from 400-3,200t. Also, Demag’s 15 all-terrain crane models enhance Tadano’s maximum lift capacity in-segment to 1,200t. Post-acquisition, the Tadano Group’s total lifting equipment line now includes more than 80 models, including rough terrain cranes, all-terrain cranes, lattice and telescopic boom crawler cranes, truck cranes and more.
Tadano said it will build synergy with the Demag line to increase efficiencies and drive innovation, uniting and further enhancing the strengths of Demag and Tadano Faun GmbH (TFG), its European subsidiary. With highly complementary offerings between the two brands’ all-terrain product lines, Tadano said it can leverage tremendous synergies throughout the value chain.
“Demag’s dedicated stakeholders, including customers, distributors and suppliers, among others, infuse the company with great value. As our journey with Demag begins, our most immediate goal is ensuring ‘Business as Usual’ for current Demag customers. We are committed to a seamless transition that allows these stakeholders to continue with their important business smoothly and successfully, while we continue on with the Tadano Group Vision of ‘Pursuing Further Excellence for the World and Future’,” Tadano said.