Terex Corporation has completed the sale of its Material Handling and Port Solutions Business (MHPS) to Konecranes Plc for USD 595 million, with Euro 200 million in cash. Addtionally 19.6 million newly issued class B shares represent a 25 per cent interest in Konecranes. According to John L. Garrison, President and CEO of Terex, the Konecranes-MHPS combination would be a value addition to all the stakeholders of Konecranes-MHPS. The sale of MHPS to Konecranes, according to Garrison, will deliver significant value to Konecranes customers, team members and shareholders. For Terex, it will a journey towards becoming a more focused, high performance enterprise. Sources claim that the sale of MHPS will help Terex to reduce debt as well as the interest expense. The final transaction consideration is subject to post-closing adjustments for cash, debt and working capital.