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.
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News Provided by COMTEX
Company: Astec Industries, Inc. (ASTE)
Related terms: acquisition, business, canada, construction, industrial, machinery, manufacturer, plant
