Astec To Acquire Concrete Equipment Providers Con-E-Co, BMH Systems

Astec Industries Inc. announced the acquisition of two full-line concrete batch plant manufacturers serving customers around the world. It acquired Concrete Equipment Company Inc. (Con-E-Co) and BMH Systems Inc., which had combined annualized sales in 2019 of approximately $50 million. The acquisitions were funded with cash on hand and will be immediately accretive to EPS. Terms of the transactions were not disclosed.

“We are very pleased to welcome Con-E-Co and BMH Systems to Astec,” said Barry A. Ruffalo, CEO, Astec, Chattanooga, Tenn. “The addition of these highly regarded brands, along with our existing RexCon brand of concrete products will significantly strengthen our ability to serve our customers’ needs – rock to road. By bringing these product lines together, our global customers will have access to the most robust line of concrete products in the infrastructure industry.

“Both organizations are an excellent cultural fit with Astec, as they are customer focused, innovative and performance-oriented. These acquisitions also reflect our disciplined capital allocation process, and we maintain significant financial flexibility as we continue to effectively manage our operations in this unprecedented environment.”

Con-E-Co, headquartered in Blair, Neb., engineers, manufactures and supports a portable and stationary concrete batch plants, mixers, material handling systems and dust control. The company was part of Oshkosh Corp.

Astec said the complementary brands and product lines will enable it to better compete in the concrete market while leveraging sales and purchasing across the combined organizations.

BMH Systems, headquartered in Montreal, Quebec, Canada, specializes in concrete batch plants, bagging plants and custom batch plants to service the needs of infrastructure projects globally.

The integration of the BMH Systems product lines into Astec is expected to provide a comprehensive concrete plant offering in North America, enhance engineering expertise, create cost synergy opportunities and deliver a strong platform to promote additional asphalt plant sales in the Canadian market.

Related Articles

Weichai Westport Secures Chinese Certification
China’s CV Markets Grew In Q2: ACT
Westport To Combine Businesses In India
Eaton Expands Clutch Actuator Reman Program
Blue Bird Ramps Up Electric Bus Production
JCB Gets Share Of $660 Million DLA Contract
CIMAC Sets Up Strategy Group For Digitalization
Silent Boats in Paris

Latest News

New Particle Number Analyzer From Sensors
Weichai Westport Secures Chinese Certification
Speakers Announced For OHR Global Webinar
Training Academy On Heat Exchange
New President At Blachford Acoustics Group NA
Cat G3412 Natural Gas Gen-Set
McColl Named CEO Of Continental Hydraulics
Gotting New CEO At Wandfluh Of America
Atlas Copco’s ZenergiZe Energy Storage Systems

Magazine Issue Archive

Diesel Progress – September 2020
Diesel Progress – August 2020
Diesel Progress International July-August 2020
Diesel Progress – July 2020
Diesel Progress – June 2020
Diesel Progress International May-June 2020
Diesel Progress – May 2020
Diesel Progress – April 2020
Diesel Progress International March-April 2020
Diesel Progress – March 2020

Login

Forgotten Password?

Haven’t got an account? Click here to register.