HOUSTON (dpa-AFX) - Arcosa, Inc. (ACA) has entered into a definitive agreement to acquire Ameron Pole Products, LLC from NOV Inc. (NOV) for $180 million in cash. Ameron is a manufacturer of highly engineered, premium concrete and steel poles for a broad range of infrastructure applications, including lighting, traffic, electric distribution, and small-cell telecom. It has four manufacturing facilities strategically located in Alabama, California, and Oklahoma.
Arcosa expects to fund the $180 million purchase price with a combination of cash on-hand and borrowings available under its revolving credit facility.
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