MEMBER COMPANY NEWS RELEASES
Shaver Manufacturing Acquired by HCC, Inc.
Ed Parsons, president of Shaver Manufacturing Co., Graettinger, IA, has announced the sale of the company to HCC, Inc., Mendota, IL.
Founded in 1944, Shaver is a leading manufacturer of agricultural equipment and landscape products. The company designs and manufactures a broad range of high quality post drivers and trailer drivers, post hole diggers, stump grinders and log splitters for multiple industries.
Parsons said, "After many years of successful ownership of the business the sale to HCC will facilitate my retirement, but more importantly the customers, community and employees will continue to be well served by the new owner."
The acquisition of Shaver further diversifies HCC's portfolio of companies and leverages it's competencies as a manufacturer of innovative and high quality agricultural harvesting equipment and farm equipment products. HCC is an employee-owned company founded in 1883.
Carl McNair, chairman of HCC, added, "We are extremely pleased to have Shaver join the HCC family of companies. The Shaver products are an excellent addition to our growing base of innovative products and markets that we serve. They are also a great complement to the ownership culture we have here at HCC." Shaver production facilities will remain in Graettinger, Iowa.
Des Moines, Iowa-based BCC Advisers acted as the financial adviser on this transaction and represented the seller.
HCC has more than 100 years of harvesting innovations, and has recently expanded its agricultural product line and entered into the vertical tillage market. Since the company's early days of Hume pickup reels and Hart-Carter products, HCC has been an innovator in the combine industry. Today, HCC is a major supplier of reels, sieves, and chaffers, and other innovative products for the combine industry.
Posted 10-29-08
Bellota Opens A New Manufacturing Facility In The U.S.
Bellota Agrisolutions, the world's leading agricultural manufacturer of components and solutions for soil preparation and seeding machinery, is opening a new U.S. manufacturing facility in Milan, IL. This new facility is expected to be fully operational in the 4th quarter of 2008.
Bellota is a family owned Spanish corporation and a key supplier to many of the worlds largest agricultural machinery manufacturers. Due to the high demand of farm machinery and components in the agricultural market, Bellota decided to establish this new facility to support the growing needs of North American customers. It will substantially reduce lead times and improve customer service levels.
Additionally, Bellota is celebrating their 100th year anniversary as a manufacturing group and for the past 30 years they have been providing the highest quality disc blades, seeding disc and coulters to the North American agricultural market. With their new U.S. facility, Bellota will continue to provide the same high quality blades as in the past but now these blades will be proudly made in the U.S.A.
Posted 10-21-08
NEWS RELEASES
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