February 2012, Vol. 67 No. 2
Business
Toro Company Acquires Astec Product Lines
The Toro Company announced Feb. 10 that it has acquired Astec Underground’s equipment lines of vibratory plows, trenchers and horizontal directional drills for the underground utilities market at an undisclosed price.
The Toro Company defined the purchase in part as a decision to expand its business in the underground market. “This acquisition helps further grow Toro’s product presence in the landscape and ground engaging markets, along with providing access to a new category close to our core businesses,” said Rick Rodier, general manager of Toro’s Sitework Systems Business. “The underground utilities space represents a market in which we don’t compete today, but one we believe provides great opportunity to drive global share growth in these new categories.”
The lines Toro is acquiring do not include Astec’s Trencor product line. All the products in question are manufactured at the Astec Underground facility in Loudon, Tennessee.
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