US acquisition sees Astec relocate JR’s Welding to Chattanooga
11 August 2008
Astec Industries has entered into a definitive agreement to acquire the assets and key personnel of JR’s Welding Inc, an Ohio, US based rebuilder and manufacturer of asphalt milling drums and cutter housings. The transaction is expected to be completed during the third quarter of 2008, although no financial details have yet been given.
JR’s Welding supplies the proprietary wear components for asphalt milling machines and, as part of the agreement, the company will relocate to Chattanooga, Tennessee.
Jeff Richmond, president of Roadtec, a division of Astec, said, “We are extremely pleased to announce the addition of JR’s Welding product offering to the Roadtec customer base. This will allow Roadtec to further our efforts in competitive rebuilds of milling drums. “
“The recent expansion and increased capacity of both Chattanooga Roadtec facilities and the addition of our new robotic drum welder are the perfect compliment to the JR’s Welding acquisition. The Roadtec management have known the Rule family for many years as respected manufacturers and they have been a good supplier to both Roadtec and to competitive users of all makes of milling machines,” continued Mr. Richmond.
John Irvine, Roadtec vice president of sales and marketing said, “JR’s Welding provides a strategic fit for our existing customers to provide new market share growth in new equipment sales and rebuild sales at Roadtec. We are pleased to be able to expand our customer reach into the competitive wear parts industry.”STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
CONNECT WITH THE TEAM
