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Valmont Industries, Inc.
VMI, a leading global provider of engineered products and services for
infrastructure, mechanized irrigation equipment for agriculture, announced
today that it has acquired privately-held Locker Group Holdings Pty Ltd., a
market leader in Australia and Asia for the manufacture of perforated and
expanded metal for the non-residential market, industrial flooring and
handrails for the access systems market, and screening media for applications
in the industrial and mining sectors. Locker Group has annual sales of
approximately $80 million and operates five manufacturing locations across the
region. After consideration for transaction costs, the Company expects the
acquisition to be slightly accretive to 2013 earnings.
"The acquisition of Locker Group enhances Valmont's position in the access
systems market while further adding complementary exposure in the perforated
and expanded metal products markets," said Vik Bansal, Group President of
Valmont's Global Engineered Infrastructure Products Segment.
"Valmont is the perfect fit for the Locker Group. We look forward to
leveraging our product and marketing teams and expanding our opportunities for
growth in the vital Asia-Pacific region," added Ed Sill, CEO of Locker.
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