Terex To Sell Genie Ahead Of REV Group Merger

Dubai (PlantAndEquipment.com) - Terex Corporation has announced intentions to sell its Genie aerial equipment division as part of a larger goal to restructure operations and concentrate on less cyclical sectors.

The move comes as part of a planned merger with REV Group, a specialist vehicle manufacturer located in the United States that produces fire trucks, ambulances, and terminal tractors.

Genie, one of Terex's most recognizable brands, manufactures aerial work platforms and material lifts for use in construction and industrial applications. The segment recorded a 13% year-on-year sales decrease in the third quarter of 2025, causing Terex to consider a full sale or spinoff.

In the Middle East and Africa, Genie is distributed by dealers including Galadari Trucks & Heavy Equipment (UAE), MEDCO Ltd. (Saudi Arabia), Bahrah Trading Company (Kuwait), Khudairi Group (Iraq), Orascom Trading (Egypt), and Concord Access Solutions (South Africa). It remains to be seen how the planned divestment will affect these regional partners and service networks.

The planned Genie divestment follows a series of portfolio adjustments, including Terex’s recent agreement to sell its tower and rough-terrain crane business to Raimondi Cranes, an Italy-based crane manufacturer owned by UAE’s Arada Group. The deal reflects Terex’s ongoing efforts to concentrate on less cyclical product segments.

Terex's sale of Genie comes after a series of portfolio modifications, including the divestiture of its crane business and the acquisition of Environmental Solutions Group. The company stated that the reorganization is intended to establish a more diverse industrial business with consistent demand and long-term development potential.

The merger with REV Group, which is slated to completion in the first half of 2026, will be accomplished via a share swap.

Terex shareholders would own around 58% of the merged firm, while REV stockholders will possess roughly 42%. The new company will continue to trade on the New York Stock Exchange under the symbol "TEX" and will focus on the emergency, utilities, trash, environmental, and materials processing sectors.