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Astec Industries acquires Industrial Mechanical & Integration

Oct 05, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: Astec Industries, Inc. (ASTE)

Astec Industries, Inc. has acquired Industrial Mechanical & Integration, a Canada-based designer and manufacturer of automated industrial machinery and tools.

Astec Industries is a US-based manufacturer of specialized equipment for building, utility, and related construction activities. 

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Completed: 2009-09-30

Deal Participants 

Target (Company)   Industrial Mechanical & Integration
Acquirer (Company) Astec Industries, Inc.

Deal Rationale

With this acquisition, Astec Industries will provide a one stop solution to customers desiring to own a pellet plant that can process material from round wood all the way to the finished product. It will also allow Astec Industries to grow the renewable fuel portion of its business.

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: Astec Industries, Inc. (ASTE)


Related terms: acquisition, business, canada, construction, industrial, machinery, manufacturer, plant

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