SEGUIN,
Texas, Aug. 16, 2024 /PRNewswire/ -- Alamo Group
Inc. (NYSE: ALG) today announced the sale of its Herschel Parts
business to F.P. Bourgalt Tillage Tools Ltd. Herschel Parts, a
manufacturer of high-quality agricultural replacement and wear
parts based in Indianola, Iowa,
was originally acquired by Alamo Group in 1995 and represented a
small part of Alamo Group's Vegetation Management Division.
Chief Executive Officer and President, Jeffery A. Leonard, commented on the sale as
follows, "We are pleased to announce the successful sale of our
small operation in Indianola,
Iowa. This decision reflects our commitment to driving
continuous improvement and profitable growth for Alamo Group.
Herschel is a quality manufacturing operation and we appreciate
their contribution to Alamo Group over the years. We wish Herschel
and its employees continued success in the future and we are
confident the business will thrive under the management of F.P.
Bourgalt Tillage Tools Ltd."
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, forestry equipment and related
after-market parts and services. The Company, founded in 1969, has
approximately 4,050 employees and operates 29 plants in
North America, Europe, Australia and Brazil as of June 30,
2024. The corporate offices of Alamo Group Inc. are located
in Seguin, Texas.
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: adverse economic conditions which could lead to
a reduction in overall market demand, supply chain disruptions,
labor constraints, unanticipated acquisition results, increasing
costs due to inflation, disease outbreaks, geopolitical risks,
including effects of the war in Ukraine and the Middle East, 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.