| From: richardred | 10/2/2017 10:53:18 AM | | | | | | Added to ASTE on today's weakness with today's Proceeding Proceeds. Took some profits in ROSE & SPAR.
Astec Industries, Inc. Announces Acquisition of RexCon LLC
October 02, 2017 06:30 ET | Source: Astec Industries, Inc.
CHATTANOOGA, Tenn., Oct. 02, 2017 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (Nasdaq: ASTE) today announced the acquisition of substantially all of the assets and liabilities of RexCon LLC, one of the leading full-line concrete batch plant manufacturers in the U.S. 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, Chief Executive Officer of Astec Industries, Inc.
Mr. 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 finalizing 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.”
Investor Conference Call and Web Simulcast
Astec will conduct a conference call on Monday, October 2, 2017, at 9:00 A.M. Eastern Time to review and to provide additional detail regarding this announcement, as well as the substantial design upgrades to pellet plants to achieve full production also announced this morning. The number to call for this interactive teleconference is (877) 407-9210. International callers should dial (201) 689-8049. Please reference Astec Industries.
The Company will also provide an online Web simulcast and rebroadcast of the conference call. The live broadcast of Astec’s conference call will be available online at the Company’s website: www.astecindustries.com/conferencecalls. An archived webcast will be available for 90 days at www.astecindustries.com.
A replay of the conference call will be available through midnight on Monday, October 16, 2017 by dialing (877) 481-4010, or (919) 882-2331 for international callers, Conference ID #20494. A transcript of the conference call will be made available under the Investor Relations section of the Astec Industries, Inc. website within 5 business days after the call.
About RexCon
RexCon LLC is a U.S. manufacturer of high-quality stationary and portable, central mix and ready mix concrete batch plants, concrete mixers, and concrete paving equipment. RexCon specializes in providing portable, high-production concrete equipment to contractors and producers worldwide in a totally integrated turnkey production system, including customized site layout and design engineering, batch plants, mixers, water heaters and chillers, ice production and delivery systems, material handling conveyors, gensets and power distribution, cement silos and screws, central dust collection, aggregate heating and cooling systems, batch automation controls, and batch office trailers. Top-of-the-Line componentry coupled with firsthand experience producing and paving concrete results in superior equipment. More information on RexCon and its products can be found at www.rexcon.com.
About Astec Industries, Inc.
Astec Industries, Inc. is a manufacturer of specialized equipment for asphalt road building; aggregate processing; oil, gas and water well drilling; and wood processing. Astec’s manufacturing operations are divided into three primary business segments: road building and related equipment (Infrastructure Group); aggregate processing and mining equipment (Aggregate and Mining Group); and equipment for the extraction, production and combustion of fuels, biomass production, and water drilling equipment (Energy Group).
Forward-Looking Statements
The information contained in this press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) regarding the future performance of the Company, including statements about the effects on the Company from the future performance of acquired businesses, low oil prices, the global mining slow down, the strong U.S. Dollar, and the impact of a long-term highway bill in the United States. These forward-looking statements reflect management’s expectations and are based upon currently available information, and the Company undertakes no obligation to update or revise such statements. These statements are not guarantees of performance and are inherently subject to risks and uncertainties, many of which cannot be predicted or anticipated. Future events and actual results, financial or otherwise, could differ materially from those expressed in or implied by the forward-looking statements. Important factors that could cause future events or actual results to differ materially include: factors listed from time to time in the Company’s reports filed with the Securities and Exchange Commission, including but not limited to the Company’s annual report on Form 10-K for the year ended December 31, 2016.
For Additional Information Contact:
Benjamin G. Brock
Chief Executive Officer
Phone: (423) 867-4210
Fax: (423) 867-4127
E-mail: bbrock@astecindustries.com
or
David C. Silvious
Vice President and Chief Financial Officer
Phone: (423) 899-5898
Fax: (423) 899-4456
E-mail: dsilvious@astecindustries.com
or
Stephen C. Anderson
Vice President, Director of Investor Relations & Corporate Secretary
Phone: (423) 899-5898
Fax: (423) 899-4456
E-mail: sanderson@astecindustries.com
globenewswire.com |
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| To: The Ox who wrote (4389) | 10/3/2017 11:48:14 AM | | From: richardred | | | | Sold out of KEQU today on the new 52 week high. It may have more to run, but as stocks move higher I'm inclined to pick more turnaround potential plays with good prospects that haven't moved, and more value orientated stocks that haven't moved or have declined. The where are they going to be a year out theme. IMO CTG is such a stock. I added to CTG with some proceeds today. PR today-They brought back an old veteran for healthcare sales.
P.S. Goal accomplished, making a good profit by waiting long enough. Some don't, and then it's decision time. To hold longer or let go.
Message 31008890 |
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| To: richardred who wrote (4571) | 10/3/2017 11:58:06 AM | | From: The Ox | | | | Excellent thought process, richard. A lot of great trades are based on buying weakness this year and understanding that next year will be much better. Lousy comps this year can lead to amazing comps next year (and so on).
One of my better calls was on GOL - Brazilian Airlines at the end of 2015/early 2016. Delta was putting money into the company to support their "troubled times", right before the Olympics were coming and also during a time of political problems. Naturally, I'm picking out an amazing move but I wrote in late 2015 that the play was going to pan out, roughly a year down the road.
Message 30264055
More on GOL, which I think will be a very good story next year but may have lots of difficulties between now and then.....from Zack/Yahoo
Revenue passenger kilometers or RPK at Gol Linhas in Aug 2015 declined 2% year over year to 3.1 billion. International RPK climbed 3.5% while domestic RPK declined 2.8%. Available seat kilometers (ASK) declined 0.3% year over year mainly due to the 0.6% fall in domestic capacity. On the international front, ASK improved 2.2%. Domestic load factor (percentage of filled seats) declined 170 basis points (bps) to 76.1%, while the metric improved 100 bps to 72.9% on the international front. In the first eight months of 2015, GOL’s consolidated RPK has improved 5.3% while capacity has been up 3%. Load factor improved to 78% from 76.3% with traffic growth outpacing the rise in capacity. Meanwhile, Moody’s Investors Service, the rating arm of Moody’s Corp., downgraded the company’s outlook to negative from positive in view of currency headwinds and weak domestic demand.
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| To: The Ox who wrote (4572) | 10/3/2017 12:06:38 PM | | From: richardred | | | | The best investment strategy in the markets, and I've said this many times before. Make money any way you can that works for you.
P.S. Recycled posts on Style of individual investing. My new style of today is more swing and option trading.
>I stay within my area of expertise, electronics and in particular the semiconductor industry, I have done quite well independent of investment style.
>Mine is boring and easy, stay long - but not for too long, learned that the hard way.
That is your style then. If we can learn from are mistakes than we are better for it. For me, I made some big kills early on in my investing years. To protect assets and lower risk. It was time for a portfolio and diversity (discipline). Every individual investor that can accept personal responsibility has to start somewhere. It's my opinion that once a individual investor achieves what they consider scale. If you have also decided your going to be an investor for the long term. A diversified portfolio is a must.
I am a skier, not recently though. Just because I can make it down a double diamond trail at Killington. Doesn't make me an expert. However, I can still have style in doing it. Once an individual investor has a portfolio. IMO- Your success or mistakes will determine how outside your own discipline you will venture.
RR
Message 23043257
Because of change, mistakes and strive for improvement. There is always something more to learn from others, (myself included).
That is why I have said many times before. " Listen to what others have to say, but do what you think is right yourself."
Many here at SI have there own investing styles. Many much better strategies, and styles than I. I try and stick to what has worked for me over the years (my own style). While adapting in over the years, styles and strategies, from others I have liked.
GITY-Good investing to you, and others here.
P.S. I'll see if I can stay out of the cellar. <G>
Rick
Message 23042083 |
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| To: The Ox who wrote (4575) | 10/3/2017 12:27:24 PM | | From: richardred | | | | >I agree but it's helpful to "find an edge".
I posted a few old keepers after I edited. So far for me anyway. An added newer strategy has help me to adapt to markets with better returns. |
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