Last year, the company sold its mining division to Bucyrus International Inc. for $1.3 billion. Caterpillar Inc. then quickly scooped up Bucyrus for $8.6 billion, in a deal set to close this summer.

Moving away from construction takes Terex further from its roots, which go back more than 100 years.

General Motors spun off its Euclid division in 1970, creating “Terex,” an amalgamation of the Latin “terra” (earth) and “rex” (king). The King of the Dirt began in 1909 as the Armington Electric Hoist Co. and built some of the first scrapers and off-road trucks. It changed its name to Euclid in 1931.