For many years now, Georgia's Port of Savannah (referred to as the port or Garden City Terminal — GCT) has been experiencing a massive growth in business that is seeing more ships dock to unload and receive a variety of goods. To ensure that the container terminal can meet current and future demands, the two-phase, $220.5 million Georgia Ports Authority's (GPA) Mason Mega Rail Terminal (MMRT) was launched on March 27, 2018.
Terex Corporation (NYSE: TEX) today announced that it has completed the sale of its Material Handling and Port Solutions business (“MHPS”) to Konecranes Plc (Helsinki KCR1V.HE) (“Konecranes”) for $595 million and €200 million in cash and 19.6 million newly issued class B shares representing a 25% interest in Konecranes.
Konecranes is to acquire the Demag overhead and Gottwald port crane division of Terex as the two agree to end all merger talks. Terex has agreed to sell its industrial and port crane services business – largely the Demag overhead crane and Gottwald port cranes business - to Finland's Konecranes.
NEW YORK (AP) — Crane maker Terex is merging with Finnish rival Konecranes in an all-stock deal that creates a company with a combined $10 billion in 2014 revenue. The new company will be called Konecranes Terex PLC and have "significant" headquarters in Westport, Connecticut, and Finland.