SEGUIN, Texas,
June 26, 2017
/PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced
that it has completed the previously announced acquisition of Old
Dominion Brush Company, Inc. located in Richmond, Virginia. Old Dominion manufactures and sells replacement
brooms for street sweepers and leaf vacuum equipment primarily sold
to municipalities, contractors and commercial landscape
markets. They reported unaudited sales of approximately
$27.7 million for the year ending
December 31, 2016.
Ron Robinson, Alamo Group's
President and Chief Executive Officer commented, "We are pleased to
have Old Dominion as part of the Alamo
Group. This is a well-known and well-respected brand whose
products are complementary to our existing range of infrastructure
maintenance equipment and parts. And, we are also glad that
Tim and Duke Brizzolara will
continue to run the company and bring their considerable expertise
and knowledge to aid in Old Dominion's
ongoing development. The company will become part of
Alamo's Industrial
Division.
About Alamo Group
Alamo Group is a leader in the design, manufacture,
distribution and service of high quality equipment for
infrastructure maintenance, agriculture and other applications. Our
products include truck and tractor mounted mowing and other
vegetation maintenance equipment, street sweepers, snow removal
equipment, excavators, vacuum trucks, other industrial equipment,
agricultural implements and related after-market parts and
services. The Company, founded in 1969, has approximately 2,970
employees and operates 24 plants in North
America, Europe,
Australia and Brazil as of March
31, 2017. The corporate offices of Alamo Group Inc.
are located in Seguin, Texas and
the headquarters for the Company's European operations are located
in Salford Priors, England.
Forward Looking Statements
This release contains forward-looking statements that
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties, which
may cause the Company's actual results in future periods to differ
materially from forecasted results. Among those factors which could
cause actual results to differ materially are the following: market
demand, competition, weather, seasonality, currency-related issues,
and other risk factors listed from time to time in the Company's
SEC reports. The Company does not undertake any obligation to
update the information contained herein, which speaks only as of
this date.
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SOURCE Alamo Group Inc.