Terex & Gaz Group announce Russian manufacturing & sales J.V.

[IBH]

GAZ Group, part of Oleg Deripaska's Basic Element, and Terex Corporation (NYSE:TEX) today announced they have entered into an agreement to form a joint venture company for the manufacture of construction and roadbuilding equipment in Russia. Under the agreement, the joint venture will manufacture, market and sell certain Terex and all GAZ Group construction and roadbuilding products in Russia, as well as distribute construction and roadbuilding products manufactured by Terex and exported into Russia. The joint venture will also sell certain construction and roadbuilding products of GAZ Group for export.

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