Terex acquires ASV

By Lisa Kerner

Charlotte, N.C., March 4 - Terex Corp. completed its $488 million acquisition of A.S.V., Inc., the company announced on Tuesday.

ASV will operate as a wholly owned subsidiary as part of Terex Construction.

Terex completed its $18-per-share tender offer for ASV on Feb. 25.

"With ASV as a proven leader in compact track loader technology combining the global reach of Terex, we see a real opportunity for expanding ASV product sales," Terex president Robert Isaman said in a company news release.

ASV, based in Grand Rapids, Minn., manufactures compact rubber track loaders and related accessories, undercarriages and traction products.

Terex is a diversified manufacturer located in Westport, Conn.

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