The Charles Machine Works Inc. formally welcomed American Augers’ employees into the CMW family of companies at the celebration held Dec. 3, at the West Salem, Ohio, facilities. Rick Johnson, CMW’s chief operating officer, presented the opening remarks and introduced Tiffany Sewell- Howard, CMW’s chief executive officer. Sewell-Howard shared CMW’s excitement at this most recent addition to the CMW family and announced David Hammond, formerly VP of operations, would lead American Augers as general manager.
On Nov. 1, it was announced that CMW entered into a formal agreement with Astec Industries Inc. to purchase American Augers and certain Trencor products for a cash purchase price of $55 million. This acquisition will be finalized before the end of the year.
“For the past several years, we’ve focused on our vision of becoming the CMW family of companies, the authority in the underground construction business. This addition is a great step toward that vision,” explained Sewell-Howard.
“The strength of the American Augers team was a determining factor in our decision to acquire the company. Going forward, we will look at how we can leverage the entire CMW family of companies to help these brands be even more successful.”
“The addition of American Augers and Trencor product lines,” Sewell-Howard explained, “expands CMW’s presence in the underground construction industry by providing additional capabilities for installing underground pipe and cable and entry into new markets.