India, Nov. 12 -- Thursday, Astec Industries, Inc. (ASTE) announced an agreement to sell its road construction equipment business, including the Roadtec and Carlson brands, to Komatsu America Corp., a subsidiary of Komatsu Ltd., for $75 million.
Under the deal, the company expects to realize approximately $65 million in total expected cash proceeds and tax benefits associated with the sale.
The proceeds are expected to strengthen Astec's balance sheet and provide additional financial flexibility to invest in its core businesses and pursue strategic acquisitions, the company stated.
The divestiture is also estimated to enable Astec to further prioritize investment in its core asphalt, aggregates and concrete platforms, as well as growth o...