FORM 8 - K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 7, 1994
Astec Industries, Inc.
(Exact name of registrant as specified in its charter)
Tennessee 0-14714 62-0873631
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
4101 Jerome Avenue, Chattanooga, Tennessee 37407
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (615) 867-4210
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On November 7, 1994, Astec Industries, Inc. (Astec) acquired the remaining
50% ownership interest in Wibau-Astec Maschinenfabrik GmbH of Grandau,
Germany (Wibau-Astec) from Putzmeister-Werk Maschinenfabrik GmbH of
Stuttgart, Germany (Putzmeister) in a stock purchase transaction. As a
result of the transaction, Astec now owns 100% of the outstanding stock of
Wibau-Astec. Astec had previously acquired a 50% ownership interest in
Wibau-Astec from Putzmeister in July, 1993. Astec paid
cash of approximately $67,000 or 100,000 DM (Deutche Marks) for the remaining
50% of the Wibau-Astec stock and guaranteed Wibau-Astec debt of approximately
$3,500,000 or 5,800,000 DM.
The assets of the Wibau-Astec business consist primarily of inventories,
receivables,manufacturing machinery and equipment, computer equipment and
software and office equipment used in manufacturing asphalt plants, their
components and parts. The registrant intends to use the Wibau-Astec
assets to produce mainly replacement parts.
The purchase price was determined as a result of arm's-length negotiations
between Astec and Putzmeister. Astec used working capital to effect this
acquisition.
J. Don Brock, Chairman of the Board and President of Astec, was serving as a
member of the shareholders committee of Wibau-Astec at the time of the
transaction.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired:
No financial statements are available at this time. The required
financial statements will be filed under cover of Form 8
within the 60 day period required by Form 8-K.
(b) Pro forma financial information:
No pro forma financial information is available at this time. The
required pro forma financial information will be filed under cover of
Form 8 within the 60 day period required by Form 8-K.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Astec Industries, Inc.
Date 12-06-94
/S/ J. Don Brock
Chairman of the Board and President
