, /PRNewswire/ — Hillenbrand, Inc. (NYSE: HI) announced today that, in conjunction with its majority-stake joint venture partner, it has completed the divestiture of its minority stake interest in TerraSource Holdings (TerraSource) to Astec Industries, in a transaction with a total purchase price of approximately $245 million.
Hillenbrand received approximately $115 million from the transaction which is being used to pay down debt.
About Hillenbrand
Hillenbrand (NYSE: HI) is a global industrial company that provides highly-engineered, mission-critical processing equipment and solutions to customers around the world. Our portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. Guided by our Purpose — Shape What Matters For Tomorrow™ — we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our people, our customers, and our communities. To learn more, visit: www.Hillenbrand.com.
SOURCE Hillenbrand
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