Terex Corporation announced that it has acquired an additional 51percent of the outstanding common shares of the Czech Republic company Tatra a.s., an internationally recognized manufacturer of on/off-road heavy-duty vehicles for commercial and military applications with 2002 revenues of approximately $138 million. The acquisition brings Terex’s total ownership in Tatra to approximately 71percent. Terex purchased the additional shares from SDC International Inc.

"We view Tatra as an integral part of our ongoing military strategy," commented Ronald M. DeFeo, chairman and chief executive officer of Terex. "We knew when we initially invested in Tatra as a minority shareholder that the company needed to be restructured. Tatra needed greater working capital funding in the near term than prior ownership was able to provide, which has led to our recent decision to acquire the additional equity. The acquisition announced today makes Terex the controlling shareholder of Tatra, which was a requirement for Terex providing Tatra with the additional working capital funding necessary to take the restructuring actions required. While the current Tatra Board of Directors and Supervisory Board will not change, Fil Filipov will become the chairman of the supervisory board. Mr. Filipov will also continue as President of Terex Cranes.

"In addition to the military opportunity, we also see Tatra as an excellent low cost engineering and fabrication resource, and as an entree to developing markets that many of our businesses can capitalize on," said DeFeo.

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