Valmont Industries rises on deal to acquire Australia's HR Products

Valmont Industries

07/07/2023 16:34

** Shares of U.S.-based manufacturer of products and
services for infrastructure and agricultural markets Valmont
Industries  VMI.N  up 1.4% at $286.9
    ** Co to acquire HR Products, a wholesale supplier of
irrigation parts in Australia, for an undisclosed amount  
    ** Adds deal funded with cash on hand; deal expected to
immediately add to earnings with first year rev of about $45 mln
    ** Deal expected to close in Q3 2023
    ** VMI shares down 13.4% YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))