Aggregate processing and concrete production equipment manufacturer Astec Industries Inc. announced Monday that the company has acquired two producers of concrete batch plants, Concrete Equipment Company Inc. (CON-E-CO) and BMH Systems Inc.
“The addition of these highly regarded brands, along with our existing RexCon brand of concrete products will significantly strengthen our ability to serve customers’ needs – Rock to Road,” the company’s chief executive officer, Barry A. Ruffalo, said in a company release. “By bringing these product lines together, our global customers will have access to the most robust line of concrete products in the infrastructure industry.
In 2019, the combined annualized sales of the two companies totaled $50 million.
“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,” Ruffalo said.
CON-E-CO produces portable and stationery concrete batch plants, mixers, material handling systems, and dust control solutions. BMH Systems offers concrete batch plants, bagging plants, and custom batch plants.