In this work we focus on improving language models' understanding for asset maintenance to guide the engineer's decisions and minimize asset downtime. Given a set of tasks expressed in natural language for Industry 4.0 domain, each associated with queries related to a specific asset, we want to recommend relevant items and generalize to queries of similar assets. A task may involve identifying relevant sensors given a query about an asset's failure mode. Our approach begins with gathering a qualitative, expert-vetted knowledge base to construct nine asset-specific task datasets. To create more contextually informed embeddings, we augment the input tasks using Large Language Models (LLMs), providing concise descriptions of the entities involved in the queries. This embedding model is then integrated with a Reasoning and Acting agent (ReAct), which serves as a powerful tool for answering complex user queries that require multi-step reasoning, planning, and knowledge inference. Through ablation studies, we demonstrate that: (a) LLM query augmentation improves the quality of embeddings, (b) Contrastive loss and other methods that avoid in-batch negatives are superior for datasets with queries related to many items, and (c) It is crucial to balance positive and negative in-batch samples. After training and testing on our dataset, we observe a substantial improvement: HIT@1 increases by +54.2%, MAP@100 by +50.1%, and NDCG@10 by +54.7%, averaged across all tasks and models. Additionally, we empirically demonstrate the model's planning and tool invocation capabilities when answering complex questions related to industrial asset maintenance, showcasing its effectiveness in supporting Subject Matter Experts (SMEs) in their day-to-day operations.