Demag Cranes & Components Corp is a subsidiary of Germany-based Demag Cranes AG. Demag Cranes AG is a supplier of industrial cranes, crane components, harbour cranes and port automation technology. Services, in particular maintenance and refurbishment services, are another key element of the Group’s business activities. In financial year 2008/2009, the Group, with some 6,000 employees, generated revenue of EUR 1.05 billion.
Since August 2011, Terex Corporation in the United States has held a majority share in Terex MHPS GmbH (former Demag Cranes AG), which forms its fifth segment Material Handling & Port Solutions. Through Material Handling & Port Solutions, Terex Corporation is one of the world’s leading suppliers of industrial cranes, crane components and services under the Demag brand, as well as port technology with a broad range of manual, semi-automated and automated solutions under the Terex® and Terex® Gottwald brands.