WESTPORT, Conn. (AP) — Machinery products maker Terex is selling its Brazilian roadbuilding operations and some mobile roadbuilding product lines in the U.S. to the Fayat Group.
Terms were not disclosed.
The transaction includes asphalt plants and pavers made in Brazil and assets for the asphalt paver, reclaimer stabilizer and material transfer product lines currently manufactured in Oklahoma City.
Terex Corp. said Monday that it will take approximately $15 million in charges during the fourth quarter related to the assets being sold and the remaining Oklahoma City roadbuilding assets.
Terex said it plans to continue manufacturing operations in Oklahoma City for its other product lines.
The deal is expected to close in the first quarter.
Shares of Terex, which is based in Westport, Conn., fell 31 cents to $33.20 in afternoon trading after rising as high as $33.71 earlier in the day, its highest since April 2011.