New shareholders for Fantuzzi?

Italy’s Industrie Meccaniche Cimolai SpA has taken over the crane and heavy equipment fabrication and load-out facilities at Monfalcone, in north east Italy, that were formerly owned by Fantuzzi Noell group and were used to fabricate and ship out large Reggiane rail-mounted and mobile harbour cranes.

As this issue was going to press, Terex Corp stated that its public tender offer for Demag Cranes AG had been accepted for at least 14M shares, corresponding to around 67% of the total.

Terex Port Equipment (TPE), the division of Terex cranes that is responsible for the former Fantuzzi Noell group businesses, has reorganised the troubled Italian operations and restored profitability.

US-based Manitex International, Inc, a specialist provider of boom trucks, RT cranes and FLTs, has gained a European foothold and some complementary products by agreeing to operate the CVS Ferrari SpA container handling business.

Terex Port Equipment (TPE), the division of Terex Cranes responsible for the whole of the former Fantuzzi Noell product line and Terex PPM reach stackers, has moved quickly to consolidate and further strengthen its position in Brazil.

A much-expected restructuring of the Italian business units has been announced, along with a new “Terex” branding strategy for all the former Fantuzzi-Noell lines.