Japan's largest crane and aerial work platform manufacturer Tadano has filed for bankruptcy protection for its two German subsidiaries (Tadano Demag) and (Tadano Faun). The company said that "protective protection procedures" will enable it to stabilize the business while maintaining control over the business.
During the three-month restructuring process, Tian Ye hopes to develop a plan to enable companies to survive in the post-epidemic era, characterized by shrinking demand and increased competition, which is worsened by the coronavirus.
In February 2019, Terex announced the sale of its Demag mobile crane business, shocking the entire industry. On August 1, Tadano officially announced the completion of the $215 million acquisition. Terex officially sold the Demag mobile crane business that has been in operation for more than 20 years to Tadano.
