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ASTEC INDUSTRIES, INC. ANNOUNCES COMMON STOCK OFFERING

 CHATTANOOGA, Tenn., June 8 /PRNewswire/ -- Astec Industries, Inc. (NASDAQ-NMS: ASTE) today announced a public offering of 1.3 million shares of common stock.
 Of the 1.3 million shares of common stock, the company is offering 1 million shares of common stock and two selling shareholders are offering 300,000 shares of common stock. Astec Industries will have approximately 4.7 million shares of common stock outstanding following the offering.
 The net proceeds to the company from the offering will be used to reduce indebtedness and for general corporate purposes.
 The manager of the offering is Raymond James & Associates, Inc. The company has granted the underwriters a 30-day option to purchase up to 195,000 additional shares of common stock to cover over-allotments, if any.
 Astec Industries, Inc., a manufacturer of asphalt mixing plants, paving equipment, heat transfer equipment, aggregate crushing equipment, excavating and trenching equipment, asphalt recycling equipment, and soil remediation equipment, is traded over-the-counter and is reported on the NASDAQ National Market System under the symbol ASTE.
 -0- 6/8/93
 /CONTACT: Albert E. Guth, senior vice president of Astec Industries, 615-867-4210/
 (ASTE)


CO: Astec Industries, Inc. ST: Tennessee IN: SU: OFR

RA-BN -- AT004 -- 6501 06/08/93 11:19 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
Words:203
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