Astec Industries, Inc., recently received a $122.5 million of a pellet plant order for Highland Pellets along with a related deposit. Also, the company received the rest of the contracted payment on the first $30 million order, which they announced in August 2015.
With the new contract, Astec Industries will build additional equipment for the first production line of this multi-line wood pellet plant facility. The details of the entire order will be discussed in the company’s first-quarter earnings release.
As for other opportunities from pellets plants, the Hazlehurst wood pellet plant, lines one and two are now running at full capacity and met the production target in the startup phase. Line three is near the testing phase and nearly installed. The order for all three lines totaled $60 million.
As the company reported, backlogs recorded $348 million at the end of January 2016, going 11% up compared to December 2015. The 2016 revenues will be supported by group sales activities and new product development in all groups.
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