Astec Industries, Inc. Announces Acquisition of RexCon LLC
CHATTANOOGA, Tenn. (October 2, 2017) – Astec Industries, Inc. (Nasdaq: ASTE) today announced the acquisition of substantially all of the assets and liabilities of RexCon LLC, one of the leading full-line concrete batch plant manufacturers in the U.S. The aggregate purchase price for the assets is $26 million, which was funded through cash on hand.
Astec Industries, Inc. Announces Substantial Design Upgrades To Pellet Plants To Achieve Full Production
CHATTANOOGA, Tenn. (October 2, 2017) – Astec Industries, Inc. (Nasdaq: ASTE) today announced it initiated significant design upgrades to its customers’ Georgia and Arkansas wood pellet plants to meet full production rates. The additional investment is expected to negatively impact Astec’s third quarter earnings by $0.54 to $0.58 per share.