Astec Industries, Inc. to Acquire Dillman Equipment, Inc.
06 8월 2008 - 4:30AM
PR Newswire (US)
CHATTANOOGA, Tenn., Aug. 5 /PRNewswire-FirstCall/ -- Astec
Industries, Inc. (NASDAQ:ASTE) today announced that it has entered
into a definitive agreement to acquire Dillman Equipment, Inc.
("Dillman"), a manufacturer of asphalt plant equipment,
headquartered in Prairie du Chien, Wisconsin. Incorporated in 1994,
Dillman is a leading manufacturer of asphalt plant equipment. The
company supplies the asphalt industry with asphalt plant equipment
that includes asphalt storage silos, DuoDrum(TM) counterflow drum
plants, cold feed systems, recycle systems, baghouses, dust silos,
air pollution control systems, portable asphalt plants, drag slats,
transfer conveyors, plant controls, control houses, silos, asphalt
storage tanks, parts, and field services. The company will continue
its manufacturing operations in Prairie du Chien, Wisconsin as a
division of Astec, Inc. The transaction is expected to close during
the fourth calendar quarter. Dr. J. Don Brock, Chairman and Chief
Executive Officer, said, "We are pleased to announce the
acquisition of Dillman Equipment, Inc. Astec management has known
the Dillman family for many years as respected manufacturers. The
expansion of Astec's manufacturing capacity, the addition of a
proven product line, and a location well-positioned to service both
Dillman and Astec customers are among the principal benefits of the
acquisition. The manufacturing capacity will be beneficial to
Astec's increasing international sales. Dillman has a culture
similar to Astec and we are pleased to be able to expand our
operations into other areas of the country via this transaction.
Brian Dillman will continue employment with the Dillman Division
team." To find out more about Dillman go to
http://www.dillmanequipment.com/ . Astec Industries, Inc. is a
manufacturer of specialized equipment for building and restoring
the world's infrastructure. Astec's manufacturing operations are
divided into four business segments: aggregate processing and
mining equipment; asphalt production equipment; mobile asphalt
paving equipment; and underground boring, directional drilling and
trenching equipment. Astec also has a company engaged in the wood
chipping and grinding industry. The information contained in this
press release contains "forward-looking statements" (within the
meaning of the Private Securities Litigation Reform Act of 1995)
regarding the future performance of the Company, including
statements about future performance of Dillman and improvements to
existing Dillman business operations. These forward-looking
statements reflect management's expectations and are based upon
currently available information, and the Company undertakes no
obligation to update or revise such statements. These statements
are not guarantees of performance and are inherently subject to
risks and uncertainties, many of which cannot be predicted or
anticipated. Future events and actual results, financial or
otherwise, could differ materially from those expressed in or
implied by the forward-looking statements. DATASOURCE: Astec
Industries, Inc. CONTACT: J. Don Brock, Chairman of the Board &
C.E.O., +1-423-867-4210, Fax: +1-423-867-4127, , or F. McKamy Hall,
Vice President and Chief Financial Officer, +1-423-899-5898, Fax:
+1-423-899-4456, , or Stephen C. Anderson, Director of Investor
Relations, +1-423-899-5898, Fax: +1-423-899-4456, , all of Astec
Industries, Inc. Web site: http://www.astecindustries.com/
http://www.dillmanequipment.com/
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