Raimondi Cranes is taking over the tower cranes, self-erecting cranes and rough terrain cranes that Terex manufactures, along with the US support operation in Wilmington, North Carolina, the historic home of American Crane. Founded by Rodolfo Raimondi in 1983, Raimondi Cranes has been owned by Saudi prince Khaled bin Alwaleed bin Talal since 2014. It sold its German crane manufacturing business, Demag (also including the legacy of PPM of France), to Tadano of Japan in 2019. The acquisition not only broadens Raimondi’s tower crane line but adds a limited range of mobile rough terrain cranes to its portfolio. As market leaders in their segments, Terex tower cranes, Terex self-erecting Crane, and Terex rough terrain cranes along with their US-based service hub, will enable Raimondi to take its first major step toward diversification.