SEGUIN, Texas, June 6, 2017 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced that it has completed the previously announced acquisition of Santa Izabel Agro Industria, Ltda. ("Santa Izabel") in Brazil.
Santa Izabel designs, manufactures and markets a variety of agricultural implements and trailers sold throughout Brazil. They have been serving this market for more than 60 years.
Ron Robinson, Alamo Group's President and Chief Executive Officer commented, "We are pleased to complete this acquisition and have Santa Izabel as part of the Alamo Group. They have a well-respected brand in the Brazilian agricultural market, which is one of the world's largest. And, we feel the timing is good as the market in Brazil is showing signs of rebounding from the declines of the last several years. Santa Izabel's excellent manufacturing facilities will also offer synergistic opportunities with Alamo's existing Herder operation in Brazil."
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.