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Equipment manufacturer Terex Corp. announced May 16 that it is ending its plan to merge with Konecranes, and will instead sell its material-handling and port solutions [MHPS] unit to the Finnish-based company for $1.3 billion.

With his unusual role change, equipment executive Brad Allen is shifting his business focus from high above to ground level.

ENR’s 20-city average cost indexes, wages and materials prices. Historical data and details for ENR’s 20 cities can be found at ENR.com/economics

From its humble beginnings in 1967, when construction teams were mustered at the owner’s home, to being ranked 254th on ENR’s Top 400 Contractors list in 2015, Indianapolis contractor Bowen Engineering Corp. has grown strategically while playing to its strengths.

As uncertainty keeps contractors relying on rental equipment, aerial-work platform use is growing, says a new study by the International Powered Access Federation.