Oklahoma Firm Buys Former Terex Plant In Waverly

Local economic development officials are hoping to get details on future plans for the former Terex Corporation crane manufacturing plant in Waverly next week.

According to public records, Oklahoma-based CMI Investments purchased the entire 49-acre site for $2.85 million just before the end of the year. A deed transfer document filed with the Bremer County Recorder's Office shows the sale was finalized on Dec. 21, 2016.

The site includes four buildings and is located along Iowa Highway 3 on the east edge of Waverly.

The Terex manufacturing complex was left vacant in July when the company closed the plant and announced the lay-off of 175 employees, 100 of them immediately.