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CLARK ANNOUNCES AGREEMENT TO SELL ITS FORKLIFT TRUCK BUSINESS

 CLARK ANNOUNCES AGREEMENT TO SELL ITS FORKLIFT TRUCK BUSINESS
 SOUTH BEND, Ind., May 28 /PRNewswire/ -- Clark Equipment Co. (NYSE: CKL) today announced that it has signed a definitive agreement to sell its material handling business to Terex Corp. (NYSE: TEX), a Green Bay, Wis.-based manufacturer of transportation and construction equipment.
 The aggregate price for the stock purchase will be approximately $95 million. The transaction has been approved by both the Clark and Terex boards of directors and is subject to governmental notification. The sale is expected to close within 60 days. The announcement was made by Leo J. McKernan, Clark chairman and chief executive officer.
 Commenting on the sale, McKernan said, "We believe this transaction is very positive for all parties. We're particularly pleased that Clark's material handling business is being purchased by Terex, a company with both an understanding and appreciation of the needs of a strong dealer network, which has always been one of this business's greatest strengths."
 Clark's material handling business has three plants, 1,400 employees and 210 dealers worldwide. Terex Corp. businesses include Terex Equipment Limited, Koehring Cranes & Excavators, Unit Rig, Northwest Engineering and Mark Industries. Terex and its affiliates also control more than 50 percent of Fruehauf Trailer Corp. (NYSE: FTC), the world's leading manufacturer of truck trailers.
 Clark Equipment Co.'s business is the design, manufacture and sale of skid-steer loaders, construction machinery, transmissions for on- highway vehicles, and axles and transmissions for off-highway equipment.
 -0- 5/28/92
 /CONTACT: Joseph Fimbianti of Clark Equipment, 219-239-0176/
 (CKL TEX) CO: Clark Equipment Co.; Terex Corp. ST: Indiana, Wisconsin IN: SU: TNM


GK -- NY032 -- 4654 05/28/92 10:37 EDT
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Publication:PR Newswire
Date:May 28, 1992
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