Fayat acquires US asphalt plant manufacturer
08 July 2024
France-based construction company Fayat Group has acquired a controlling interest in US-based Asphalt Drum Mixers (ADM), an asphalt plant and component manufacturer.
Financials for the purchase were not available.
Fayat said acquiring a majority share of ADM would help 鈥渆xpand its strategic position in North America鈥 along with its current brands 鈥 Bomag, Dynapac, and Secmair 鈥 that already operate in the US asphalt sector.
ADM will join Fayat鈥檚 present brands 鈥 Ermont and Marini 鈥 within its mixing plants business unit.
鈥淔ayat further strengthens its strategic position in the road construction and maintenance equipment segment,鈥 said the company.
Family-owned prior to the majority purchase, Fayat said the two operating families will remain as minority investors with current ADM present, Mike Devin, remaining as president.
Jean-Claude Fayat, president of Fayat Group, said, 鈥淎DM is a key player in the road construction equipment market in North America, with a highly recognised brand. We will leverage its expertise and technologies together with our existing portfolio to continuously develop equipment that closely addresses our customers鈥 needs.鈥
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