Astec Inc expanding with acquisition

Astec Industries has acquired the assets and liabilities of RexCon, leading full-line concrete batch plant manufacturers in the US. The aggregate purchase price for the assets is $26 million, which was funded through cash on hand.
October 5, 2017 Read time: 1 min
681 Astec Industries has acquired the assets and liabilities of RexCon, leading full-line concrete batch plant manufacturers in the US. The aggregate purchase price for the assets is $26 million, which was funded through cash on hand.


“We are very pleased to welcome RexCon to the Astec Industries family of companies. The acquisition of RexCon reflects our stated strategy to drive focused growth, both organically and through acquisitions of strong companies, that serve the infrastructure, aggregate and mining, and energy industries,” commented Benjamin G Brock, CEO of Astec Industries.

Brock concluded, “RexCon is a successful, profitable company with a reputation for innovative technology and dependable quality products. We are a match culturally and in our approach to business.  We thank the owners, Jake Jacobs and Mike Redmond, for their collaborative efforts in finalising this transaction, and we are pleased that they will continue to run and work to grow RexCon, as a part of Astec Industries, joining our Energy Group.”

Materials

For more information on companies in this article

Related Content

  • Record first quarter for CEMEX
    April 29, 2025
    A record first quarter result for CEMEX.
    Read More
  • Wacker Neuson bullish with strong results
    March 18, 2019
    Wacker Neuson is bullish with its latest financial results, showing record revenue for fiscal 2018 with. The firm saw double-digit growth in group revenue to reach €1.7065 billion, a jump of 11%. The firm benefited from even faster EBIT growth to reach €159.7 million, a jump of 22%, while EBIT margin improved to 9.4%. The firm’s new strategy includes initiatives reduce complexity while its revenue is expected to grow by 4-8% in 2019 The Wacker Neuson Group says that business grew across all regions and bus
    Read More
  • David Beatenbough talks about LiuGong’s achievements and its ambitions.
    January 6, 2017
    The year 2012 has been a milestone for Chinese construction equipment manufacturer LiuGong. In January it announced completion of the purchase of Polish company HSW (Huta Stalowa Wola) and its distribution subsidiary Dressta, LiuGong’s first outright acquisition outside its domestic market. HSW produces bulldozers and other crawler machines, while LiuGong is ranked as the largest wheel loader manufacturer in the world, and is also said to be among the world’s fastest growing CE companies.
    Read More
  • David Beatenbough talks about LiuGong’s achievements and its ambitions.
    April 2, 2012
    The year 2012 has been a milestone for Chinese construction equipment manufacturer LiuGong. In January it announced completion of the purchase of Polish company HSW (Huta Stalowa Wola) and its distribution subsidiary Dressta, LiuGong’s first outright acquisition outside its domestic market. HSW produces bulldozers and other crawler machines, while LiuGong is ranked as the largest wheel loader manufacturer in the world, and is also said to be among the world’s fastest growing CE companies.
    Read More

Highlighted Content