Terex Announces Equity Investment In Apptronik

(RTTNews) - Terex Corp. (TEX) has made an equity investment in Apptronik, Inc., an Austin-based company specializing in the development of mobile robotic systems. Apptronik was founded in 2016 out of the Human Centered Robotics Lab at the University of Texas at Austin.

"Multiple trends are converging to drive adoption of human-centered robots in everyday applications and Apptronik is well positioned to capitalize on this emerging trend," said Terex CEO John Garrison, Jr.

Also, the companies have entered into a co-development agreement to work together to create potential robotic applications for Terex products.