FOR IMMEDIATE RELEASE: Statement Following Astec’s December 4 Announcement of Definitive Agreement to Acquire CWMF Corporation
WAITE PARK, Minn. — On Thursday, December 4, 2025, Astec Industries, Inc. announced that it has entered into a definitive agreement to acquire CWMF Corporation. Today, CWMF is sharing additional perspective on the agreement and what it means for the company’s employees, customers, and future. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.
Founded in 1988, CWMF has built its reputation on quality craftsmanship, durable design, and dependable equipment manufactured by skilled tradespeople in central Minnesota. As demand for CWMF’s product lines has grown, the company has continued expanding its operations, capabilities, and workforce to support customers across North America.
By joining Astec’s family of industry-leading brands, CWMF will strengthen the combined organization’s ability to serve asphalt producers with a broader range of equipment and support resources.
A Message from CWMF President, Carmie Mick
“CWMF has always been focused on building a strong future for our employees, our customers, and the industry we serve. With no third generation stepping in, we knew the next chapter of growth would require a larger platform—one capable of supporting the momentum our team has created.
Partnering with Astec provides exactly that. Their scale, resources, and commitment to the industry ensure long-term stability and opportunity for our people, while strengthening the support we can offer our customers. This decision allows CWMF to enter its next chapter from a position of strength, and I am proud of what our team has built to get us here.”
Continuity for Customers and Employees
Following the closing, CWMF’s operations will integrate into the Astec organization, with both teams working collaboratively to ensure a smooth, well-supported transition for employees, customers, and suppliers.
About CWMF Corporation
CWMF Corporation is a U.S. manufacturer of portable and stationary asphalt plant equipment, including drum mixers, baghouses, RAP crushers, scalping screens, and complete plant components. Built in Minnesota, CWMF equipment is known for durability, craftsmanship, and practical design for producers across North America. Contact us with questions or media inquiries.
About Astec Industries
Astec Industries, Inc. (Nasdaq: ASTE) is a manufacturer of specialized equipment for asphalt roadbuilding, aggregate processing, and related infrastructure markets. With operations across North America and globally, Astec delivers advanced solutions that help producers achieve safety, sustainability, and performance goals.
