maverick
15-12-2007, 07:53 AM
Manufacturing company Terex Corp. said Wednesday it acquired a controlling share of its joint venture Terex Vectra Equipment Ltd., which builds diggers and other construction vehicles in northern India.
Terex (nyse: TEX - news - people ), which boosted its ownership of the venture from 40 percent to 70 percent, did not disclose financial terms of the purchase from its partner, Hong-Kong registered Vectra Ltd.
Terex is involved in crane manufacturing, mining and road building. It had 2006 net sales of $7.6 billion. Its shares rose $1.53 or 2.4 percent to $65.01 in midday trading.
Terex (nyse: TEX - news - people ), which boosted its ownership of the venture from 40 percent to 70 percent, did not disclose financial terms of the purchase from its partner, Hong-Kong registered Vectra Ltd.
Terex is involved in crane manufacturing, mining and road building. It had 2006 net sales of $7.6 billion. Its shares rose $1.53 or 2.4 percent to $65.01 in midday trading.