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Bandit Industries is partnering with Richardson Service 1991 Inc., serving nearly all of South Carolina, expanding their dealer network in the southern U.S.

Richardson Service 1991, based in Conway, gives Bandit’s South Carolina customers a local option for parts, service, rentals and sales for Bandit hand-fed wood chippers and stump grinders. They’re located at 2667 U.S. 378 in Conway, in eastern South Carolina.

Richardson Service started out as a small local repair shop and has since grown to include a large rental fleet of construction, forestry, and compact equipment. With the growth, they improved all aspects of its repair facility to offer their customers the best service in the area.

Published in the June 2017 Edition of American Recycler News

Speedemissions, Inc., a vehicle emissions testing and safety inspections company operating 22 stores in the Atlanta and St. Louis markets, has closed an Asset Purchase Agreement with Auto Recycling of Montgomery (ARM), an Alabama corporation, pursuant to which the company agreed to purchase certain assets of ARM, including land, buildings, equipment and inventory previously used by ARM in an auto recycling operation which ceased operations in June of 2014.

With the Asset Purchase Agreement, Speedemissions intends to create an auto salvage business operation at the existing location in Montgomery, Alabama but expects it will take approximately 60 days to hire employees and put the necessary business systems in place before sales operations can commence.

As part of an overall strategic initiative, Speedemissions has formed a wholly-owned subsidiary for the purpose of seeking future acquisitions within the auto recycling industry, subject to capital availability, in addition to its existing vehicle emission testing business operations.

Published in the June 2017 Edition of American Recycler News

Federal Signal Corporation, a leader in environmental and safety solutions, has executed a definitive agreement to acquire Truck Bodies and Equipment International (TBEI), a U.S. manufacturer of dump truck bodies and trailers, for $270 million, subject to post-closing adjustments.

This represents a multiple of 7.2x TBEI’s EBITDA for the 12 month period ending March 31, 2017, before accounting for synergies.

The acquisition will enable the company to strengthen its market position as a specialty vehicle manufacturer in maintenance and infrastructure markets.

This transaction will also allow the company to leverage its expertise in building chassis-based vehicles, significantly expand its exposure to higher growth industrial end-markets and balance the mix of revenues it generates from municipal and industrial markets. The transaction is expected to be immediately accretive to the company’s margins and earnings per share, excluding transaction costs and before giving effect to anticipated synergies.

Published in the June 2017 Edition of American Recycler News

The Association of Equipment Manufacturers (AEM) has elected Grant Godbersen, vice president manufacturing of GOMACO Corp., to the AEM board of directors, and has elected Susanne Cobey, president and chief executive officer of Eagle Crusher Company, and Mary Erholtz, vice president marketing of Superior Industries, to the AEM CE sector board, to fill unexpired terms.

AEM is the North American based trade group representing off-road equipment manufacturers and suppliers.

AEM officers and directors work on behalf of all member companies to provide strategic direction and guidance for Association action in areas including public policy, market data and exhibitions, as well as technical, safety and regulatory issues and education/training.

Published in the June 2017 Edition of American Recycler News

Noranda and Concord Resources have entered into a long term, exclusive off take agreement for smelter grade alumina produced at Noranda’s alumina refinery in Gramercy, Louisiana, and a related third party marketing arrangement for bauxite produced at Noranda’s mining facility in St. Ann, Jamaica.

The agreement runs through 2024.

Published in the June 2017 Edition of American Recycler News

The Timken Company has named Jason K. Rebucci president of PT Tech, LLC. Timken recently acquired the assets of PT Tech, Inc., adding engineered clutches, brakes, power take-off units and other torque management devices to Timken’s growing portfolio of mechanical power transmission products. Rebucci reports to Hans Landin, vice president – mechanical power transmission.

Based in Sharon Center, Ohio, PT Tech has served an established original equipment customer base primarily in North American mining, aggregate, metals manufacturing, road-working, and wood recycling industries since 1978.

Rebucci joined Timken in 2003 as a co-op engineer before being hired full time as a product engineer. He served in subsequent roles of increasing responsibility in manufacturing, engineering and sales prior to his most recent assignment as global purchasing manager for bearing elements.

Rebucci will be working at the PT Tech facility located in Sharon Center, Ohio.

Published in the June 2017 Edition of American Recycler News