Terex acquires CBI

Terex Material Processing, a business segment of Terex Corp., Westport, Connecticut, has acquired the equipment company Continental Biomass Industries Inc. (CBI), Newton, New Hampshire. With the acquisition, Terex says it has significantly expanded its Terex Environmental Equipment (TEE) product line, which serves the wood, biomass and recycling industries.

In making the deal, Terex says the acquisition adds dimensions to its TEE business that would otherwise have taken years to develop. The acquisition will add customization and specialty product capabilities that enable TEE to serve even the most demanding requirements of customers worldwide, the company explains.

Kieran Hegarty, president of Terex Materials Processing, says, “Wood processing, biomass fuel production and recycling are strong and growing industries that are driven by increasing global demand for environmentally responsible solutions to waste disposal and alternative energy. We see a real opportunity to bring value to customers in these industries by providing equipment that combines the know-how of CBI and TEE with our existing materials processing expertise.”

CBI, which has been in business since 1988, says it has a long history in the wood, biomass and recycling markets and brings an experienced team that will drive specialized product and project sales on a global basis. CBI also offers a portfolio of products that when combined with Terex products and products in development will be able to form the basis for a line of standard products that can be sold and supported through distributors.

At the same time, Terex’s experience and established distribution relationships will enable quick development of a distributor network that will sell and support standard products on a worldwide basis.

Following the acquisition, TEE will serve customers through three distinct sales and support channels:
 

Anders Ragnarsson, owner and founder of CBI, will continue as the managing director of the CBI product line. “Terex is the perfect partner to take the CBI brand to the next level, combining Terex’s global talent and well-established distribution channels with CBI’s strong product development, service and custom design and build capabilities,” Anders says.

In addition to managing CBI, Anders will support Tony Devlin, TEE’s worldwide business director, in developing TEE into a market leader in the wood, biomass and recycling industries.

According to Devlin, “Terex Materials Processing has a long history of providing application-specific equipment that converts complex materials into more useful, more valuable and less waste intensive outputs. We’re excited to build on that heritage as we further expand into the recycling, biomass and wood processing industries, and we look forward to adding value to these industries by serving our new customers to a very high standard.”