Oct. 23, 2009
ARMSTRONG, Iowa -- Art's Way Manufacturing has signed a letter of intent to acquire the manure spreader product line of Roda Manufacturing, Inc., Hull, Iowa.
The product line includes:
The acquisition is anticipated to close not later than January 5, 2010.
J. Ward McConnell Jr., chairman of the board, said, "This product line acquisition candidate absolutely fits Art's Ways business model, which has the objective of completing strategic and vertical acquisitions that allows us to expand our product line, improve our niche manufacturing leadership position, build our asset base for revenue growth and increase shareholder value. I know our dealers will be very excited to be able to offer this outstanding line of manure spreaders to their customers."
Art's Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers. After market, service parts are also an important part of the Company's business. We have two wholly owned subsidiaries. Art's Way Vessels Inc. manufactures pressurized tanks and vessels; Art's Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.
SOURCE: Art's Way Manufacturing Inc. via PR Newswire.
