Terex joint venture in Russia

Terex Corporation, an American-based diversified global manufacturer of heavy equipment, has completed the formation of a joint venture with Russian Machines.

The joint venture will manufacture, market and sell certain Terex products and all Russian Machines construction and road-building products in Russia, as well as distribute certain products manufactured by Terex and exported into Russia.

Terex intends to develop its presence in developing countries, with Steve Filipov, Terex鈥檚 president of developing markets, saying the company is looking to develop local business models to suit these markets.

Terex Corporation is a diversified global manufacturer reporting in five business segments: Aerial Work Platforms, Construction, Cranes, Material Handling & Port Solutions and Materials Processing.

Russian Machines, part of Basic Element Company, is a major corporation with industrial production that includes rail industry, aircraft OEM, military vehicles and road construction machinery with enterprises located in 14 regions of Russia.

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