Astec Enters into Definitive Agreement to Acquire CWMF Corporation
Astec Industries, Inc. (NASDAQ: ASTE) (“Astec” or “Company”) today announced the signing of a definitive agreement to acquire CWMF Corporation (“CWMF”). CWMF (https://cwmfcorp.com/) is a manufacturer of portable and stationary asphalt plant equipment and parts with annual revenues of approximately $50 million. The distribution of CWMF products is primarily concentrated in the Midwest, South-Central and Great Lakes regions of the United States.
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About Astec
Since 1972, Astec Industries, Inc. has been connecting communities by providing innovative rock to road solutions for our customers. United by our purpose – Built to Connect – Astec is a leading global manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Operations are divided into two primary business segments. Infrastructure Solutions includes road building, asphalt and concrete plants, thermal and storage solutions. Materials Solutions includes aggregate and other material processing solutions. For more information, follow us on social media.