Terex Corp., Westport, Conn., on Dec. 20 agreed to sell its mining equipment business to South Milwaukee, Wis.-based Bucyrus International Inc. for $1.3 billion in cash. Them firm plans to use some of the proceeds to buy companies “beaten down by the recession,” says Chairman and CEO Ron DeFeo. If the deal closes by the end of next quarter as planned, Bucyrus would provide a wider global footprint in mining, which Terex lacks. Terex would have had to invest $150 million to $200 million “in order to take this business to the next level,” says DeFeo. The move positions Terex
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.