Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, July 14, 2023

Article Excerpt

VALMONT INDUSTRIES INC., $277.52, symbol VMI on New York, is a leader in designing and manufacturing highly engineered products and services for the global infrastructure and agriculture markets. Its infrastructure products include light standards, traffic lights, sign structures, bridge structures, mass transit poles, etc. Large-scale agriculture outfits use the company’s irrigation equipment and services to improve farm productivity while conserving freshwater resources. In addition, the company provides coating services that protect steel and other metal products against corrosion. That extends the usable life of these metals, which cuts the user’s long-term costs. As well, its telecommunications product line offers wireless communication structures and components, and its renewable energy product line sells solar tracking solutions. On July 7, 2023, the company announced that it would acquire HR Products, an Australian wholesale supplier of irrigation parts. The acquisition will let Valmont expand its presence in Australia’s large agriculture industry. HR Products was founded in Perth, Australia, in 1979. It sells various irrigation products to Australian farmers…