Terex Germany GmbH & Co. KG holds indirectly through Terex Industrial Holding AG an 81.92% stake in Demag Cranes. Both the Supervisory Board of Demag Cranes AG and the partners of Terex Germany GmbH & Co. KG have approved the agreement. It still requires the approval by the Annual General Meeting of Demag Cranes AG, which is scheduled to be held on 16 March 2012.

Under the agreement, Terex Germany GmbH & Co. KG offers to acquire the shares of outside shareholders of Demag Cranes AG in return for cash compensation in the amount of EUR 45.52 per no-par value share pursuant to sec. 305 (1) of the German Stock Corporation Act (AktG). Furthermore, the agreement provides for an annual guaranteed dividend payment to outside shareholders of Demag Cranes for the term of the agreement in the gross amount of EUR 3.33 per non-par share (EUR 3.04 net per non-par share). The payment obligations by Terex Germany GmbH & Co. KG under the domination and profit and loss transfer agreement are secured by a comfort letter issued by Terex Corporation.

The cash compensation corresponds to the volume-weighted average price of Demag Cranes shares as determined by the German Federal Financial Supervisory Authority (BaFin) for the relevant three-month period prior to the announcement on 5 September  2011 of the decision of the Management Board of Demag Cranes AG to enter into negotiations about the signing of a domination and profit and loss transfer agreement with Terex Germany GmbH & Co. KG. This reference share price is higher than the business value per Demag Cranes share of EUR 43.23 as determined in an independent evaluation of Demag Cranes AG performed in accordance with IDW Standard S1 by auditors Ebner Stolz Mönning Bachem. This valuation reflects on the one hand the planning of the Management Board of Demag Cranes AG for the next three years, which is based on the Company’s clear and successful strategy geared to sustained and profitable growth. On the other hand, it takes account of the substantially dimmed global economic environment in recent times, which will also impact on the implementation of this strategy. Europe and other parts of the world are experiencing financial and budgetary crisis that is particularly affecting the European banking system and impairing its ability to extend credit to support economic growth. The International Monetary Fund (IMF) recently revised downward its growth forecast for the global economy for 2012 from 4.0% to 3.3% and for 2013 from 4.5% to 3.9%. The IMF believes economic growth will also slow in emerging economies. Furthermore, the US Federal Reserve has scaled down its growth expectations for the US economy.

Uncertainties about how the economy will develop are making it increasingly difficult to give reliable long-term projections, also with regard to demand for the Demag Cranes Group’s products. It now seems possible that the implementation of strategic subprojects may be a challenge in the medium to long term, with corresponding implications for revenue and earnings performance.

Demag Cranes AG is due to publish its interim report on business performance in the first quarter of financial year 2011/2012 on 7 February 2012. The complete wording of the domination and profit and loss transfer agreement, the joint report by Demag Cranes and Terex on the agreement, and the expert opinion prepared by Ebner Stolz Mönning Bachem will be published with the notice convening the Annual General Meeting on 3 February 2012.

A large number of national and regional, government run and privately managed, CFS’ participated in the competition. Participants were judged on volume growth, operational & financial performance, innovation at work and environmental efficiencies. Mr. K. Mohandas, Secretary, Ministry of Shipping, Government of India presented the awards.

The award recognizes the company’s efforts to promote EXIM trade through the creation of modern facilities and infrastructure; and high levels of efficiency and productivity achieved by the CFS in 2011.

The Chennai CFS registered over 100%  growth in volumes in 2011 compared to 2010. It has also won the 5S Excellence Award from the Confederation of Indian Industries & 5S Model Facility award from ABK ATOS recently. The facility handles all types of commodities including agricultural products, sugar, raw cotton, chemicals, apples and pears in reefers, scrap metal, newsprint, wastepaper, auto parts and appliances.

Inland Services are becoming an increasingly important component of APM Terminals Global Terminal Network, particularly in emerging markets where access to interior population and industrial centers can be limited by infrastructure constraints.

“We are committed to offering clients the best logistics solutions to their inland container activities” commented Subhasis Ghosh, Managing Director of APM Terminals Inland Services South Asia.

APM Terminals Inland Services in South Asia has a team of 280 professionals managing 7 Container Freight Stations, 10 equipment maintenance & repair locations with reefer and dry repair services and transportation solutions in the markets of Mumbai, Chennai and Dadri.

In India, APM Terminals India provides cargo transportation and support services at the ports of Chennai, Nhava Sheva (Mumbai), Pipavav, Tuticorin and Vishakhapatnam as well as inland container depots at Dadri and Loni in Delhi. APM Terminals Mumbai is India’s busiest container terminal and APM Terminals Pipavav is India’s first privately-owned port and the country’s fastest growing port for the past two years.

PSL Limited, a leading pipe and steel producer has secured funding for the 16^th multi-purpose cargo berth at Kandla Port with Axis Bank.  As Lender’s Engineer and an independent strategic consultancy, BMT will carry out robust, structured and defensible technical studies and provide Axis Bank with the assurance that this project can deliver.

These studies will include a detailed cost estimate and on-site inspection.  BMT will also carry out an assessment of the proposed layout of the berth as well as providing port efficiency and advice on the business plan.

Suren Vakil, Managing Director of BMT Consultants India comments: “Our risk, management and operations expertise allows us to investigate the details of the investment, whilst assessing the management processes, supply chain and operational capability of the proposed berth at Kandla Port.  We look forward to working with Axis Bank to help expose and resolve any issues prior to the project moving into the next critical phase of construction.”

The company has been recognised as a preferred consultant for project evaluation and Lender’s Engineer assignments with other financial institutions including IDFC, State of Bank of India and Punjab National Bank.

Sarjak specialises in the transportation of Over Dimensioned Cargo (ODC) in containers or break bulk form by its fleet of hard top, open top, flat rack, super rack and GP containers. Sarjak’s more than 3,000 units of specialist equipment enable the company to handle shipments that cannot fit into normal containers or flat rack units. The main cargoes handled from the region include transformers, boilers, chiller units, pressure vessels, sugar manufacturing plants, oil well equipment, and various engineering goods.

Under the new agreement, GAC India will take care of all Sarjak’s operational and marketing requirements in Delhi and North India area. Currently, 35 containers are moved every month, but that figure is set to increase to 100 containers monthly, from April onwards.

Sunil Kapoor, GAC’s North of India Manager, says the company’s winning combination of local know-how and its strong presence in the north of the country, plus the Group’s global reach and resources, make it the ideal partner to ensure that Sarjak’s clients receive fast, professional service, both in terms of receiving rates and proposals, and efficient handling of the containers and flat racks.

Sarjak’s Senior President, Capt. Rumi Engineer adds: “Meticulous planning and precision handling are key factors in the successful handling of the most unique and challenging of project cargoes. GAC India has a long track record in managing odd and off-size shipments, so we are assured that the cargoes are in good hands.”