Gencor Industries, Inc. signed an agreement to acquire the Blaw-Knox paver business and associated assets from Volvo Construction Equipment North America, Inc.
July 30, 2020
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Gencor Industries, Inc. (NasdaqGM:GENC) signed an agreement to acquire the Blaw-Knox paver business and associated assets from Volvo Construction Equipment North America, Inc. on July 31, 2020. The Blaw-Knox business, name, and associated assets will transfer to Gencor, including the manufacturing production line currently located at Shippensburg Pennsylvania. Gencor is expected to continue marketing and servicing the Blaw-Knox paver line through selected Volvo CE dealers. The deal is expected to be finalized in Gencor’s first quarter of fiscal 2021. KPMG AB, Investment Banking Arm and KPMG Corporate Finance LLC acted as financial advisors to Volvo Construction Equipment North America, Inc.
Gencor Industries, Inc. is a diversified heavy machinery manufacturer for the production of highway construction materials and equipment and environmental control machinery and equipment used in a variety of applications. The Company's products include asphalt pavers, hot mix asphalt plants, combustion systems and fluid heat transfer systems. The Company also manufactures related asphalt plant equipment, including hot-mix storage silos, fabric filtration systems, cold feed bins and other plant components. Its Hetherington and Berner (H&B) product line is an asphalt plant line. It manufactures combustion systems, which are large burners that can transform solid, liquid or gaseous fuels into usable energy, or burn multiple fuels, alternately or simultaneously. The Company manufactures asphalt pavers under the Blaw-Knox brand. It manufactures the Hy-Way Heat and Beverley lines of thermal fluid heat transfer systems and specialty storage tanks for various industry uses.
Gencor Industries, Inc. signed an agreement to acquire the Blaw-Knox paver business and associated assets from Volvo Construction Equipment North America, Inc.
GENCOR INDUSTRIES, INC. 