Additionally, Blue River will take over all of Tatra’s external debt, which totals approximately $22 million.
Terex had previously identified Tatra, a Czech-based manufacturer of heavy duty on and off road trucks, as a non-core operation. The buyer, Blue River s.r.o., is a Czech-based consortium of four international private investors, led by Ronald Adams, originally from Texas and a member of the Tatra supervisory board, which until recently was chaired by Fil Filipov.
“Terex’s management team regularly evaluates current operations and future opportunities to determine the most appropriate allocation of resources,”
said Ronald M. DeFeo, Terex’s chairman and chief executive officer.
“After detailed analysis, Tatra was identified as non-core and we commenced a process to realize maximum value for our investment. Tatra’s employees build terrific products, but our shareholders expect management to focus resources on opportunities that best fit the overall goals of the Company, and Tatra no longer fit with Terex’s strategy.”