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RSSArt's Way to Acquire Manure Spreader Product Line of Roda Manufacturing
ARMSTRONG, Iowa (Oct. 23, 2009) — Art's Way Manufacturing, Inc. (Nasdaq: ARTW), a leading manufacturer and distributor of niche agricultural machinery, equipment and services, is pleased to announce the Company has signed a letter of intent to acquire the manure spreader product line of Roda Manufacturing, Inc., Hull, Iowa.
The product line includes:
• The H Series — a non-commercial, high quality, low maintenance pull-type manure spreader that comes in 400, 600 and 800 bushels;
• The V Series — a commercial spreader with removable vertical beaters, adjustable apron speed and a reversible apron.
• The HV Series — combines the best of both the H and V Series. Rugged, reliable and available in 20-, 22- and 24-foot box length with either horizontal or vertical beater options. It also features a durable one-piece frame design and a triple apron.
The acquisition is anticipated to close not later than January 5, 2010.
J. Ward McConnell, Jr., Chairman of the Board, said, "This product line acquisition candidate absolutely fits Art's Ways business model, which has the objective of completing strategic and vertical acquisitions that allows us to expand our product line, improve our niche manufacturing leadership position, build our asset base for revenue growth and increase shareholder value. I know our dealers will be very excited to be able to offer this outstanding line of manure spreaders to their customers."
For more about Roda Manufacturing, go to www.rodamfg.com.
Source: PR Newswire
