Astec Industries buys RexCon

For a price of US$26 million, US-based equipment producer Astec Industries has acquired RexCon, a full-line concrete batch plant manufacturer based in the US.

Benjamin Brock, CEO of Astec Industries, said, “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.”

Said to have a reputation for innovative technology and dependable products, RexCon was believed by Brock to be a good match for Astec Industries, both culturally and in terms of its business approach.

He said, “We thank the owners, Jake Jacobs and Mike Redmond, for their collaborative efforts in finalising 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.”