INNOVATION AND CUSTOMER FOCUS

ASTEC INDUSTRIES'S RECENT ACQUISITION OF TERRASOURCE PROVIDES THE COMPANY WITH GREATER RESOURCES TO HELP MINERS IN AUSTRALIA.

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Astec Industries has entered into a definitive agreement to acquire TerraSource Global for $US245 million ($379 million) in a strategic move poised to enhance its materials solutions segment and fuel global growth, including in the Australian mining market.

TerraSource is known for its robust portfolio in crushing, screening, feeding and material handling offerings. The company's equipment has been crucial for many coal mining operations, trusted by companies such as Arch Coal, Peabody and Drummond.

Its solutions offer power-efficient crushing and high-capacity sizing in challenging mining environments, helping to ensure reliable, low-maintenance operations that enhance productivity and reduce downtime.

With features like uniform feeding, precise material control and efficient material transfer, TerraSource's equipment significantly contributes to the efficiency and effectiveness of coal mining operations.

Astec president and chief executive officer Jaco van der Merwe said the acquisition aligns with Astec's long-term vision and customer-centric values.