Terex snaps up German wheeled loader maker

Terex has announced the acquisition of Kaelble, the German wheeled loader manufacturer for an undisclosed sum.

Established in 1894, Kaelble produces a range of machines with capacities from 2.8m3 to 5.4m3.

Colin Robertson, president of Terex Construction said: "This acquisition allows us to extend our current wheeled loader range and penetrate markets such as Germany."

The Terex Corporation has acquired a number of well known construction brands in recent times and has grown 32% every year since 1995, according to Ron DeFeo, chairman and ceo.

"We're looking at 50% growth within the next two years without any more acquisitions," he said.