Terex Corporation announced today that it has agreed to make a $1.2 million equity investment into FleetEdge, a B2B fleet management system focused on providing business intelligence for users of construction equipment.
"This investment will allow Terex to develop a presence in fleet management services," said Ronald M. DeFeo, Terex’s chairman and chief executive officer. "We recently announced the launching of EarthKing, an independent and unbiased Internet marketplace for the construction and mining equipment industry. FleetEdge provides EarthKing with a fleet management system that is custom configured for our customers’ equipment fleets, designed to be easily implemented, maintained and managed from anywhere in the world with an Internet connection. FleetEdge’s complete service provides the business intelligence to help fleet managers tackle one of the most challenging aspects of their business, equipment management. We are particularly pleased with the FleetEdge partnership because it allows users of construction and mining equipment to reduce their cost of ownership throughout the product life cycle."
