Oshkosh strengthens its mix
By Bob Freund
OSHKOSH, Wis. --Oshkosh Truck Corp. is strengthening the mix of its concrete business by buying a specialized company that makes portable concrete plants.
Parent company Oshkosh Truck Corp. announced Friday an agreement by its McNeilus Cos. subsidiary to buy Concrete Equipment Co. of Blair, Neb., and its subsidiary Audubon Manufacturing Corp. Financial terms were not disclosed. The deal should close early in November, Oshkosh said in a written release.
Privately held Concrete Equipment, also known as Con-E-Co, produces several types of concrete batch plants, which typically are used as a source for concrete on large jobs, such as road construction and major buildings. They are portable and assembled on site. The company also makes and markets some materials handling and dust control systems connected to concrete manufacturing.
McNeilus' main business is concrete mixer trucks, but the Dodge Center firm also has made mobile batch plants.
Concrete equipment will operate as a wholly owned subsidiary of Oshkosh Truck within its concrete placement division. The acquisition is being pursued through McNeilus, the company said.
Oshkosh plans to finance the transaction through available credit. The company said it expects to provide additional financial details on Thursday, when it holds its quarterly earnings conference call with investors and Wall Street analysts.
A company spokeswoman was not available to provide further details early this morning.