DOVER-FOXCROFT – Barrett Paving Materials Inc. of Dover-Foxcroft and Bangor has been sold to Pike Industries, based in Belmont, N.H.

About 50 of the former Barrett employees at the two plants have been retained by Pike, and more are expected to be hired as the workload increases, said Bob Robillard, regional manager, on Monday.

Robillard said Pike took ownership of the company on Monday.

Pike, which is the largest paving contractor in New England, also owns 11 other asphalt plants in Maine, he said. The company is affiliated with Old Castle Materials, based in Washington, D.C.

“We expect this to work out really well,” Robillard said of the purchase.

Robillard said the company would honor all contracts that Barrett Paving Materials Inc. had with communities, businesses and individuals.

Typically, the company operates within a 30- to 35-mile radius of each asphalt plant, according to Robillard.