Our Business Landscape and Market Philosophy
Astec Industries, Inc. was founded in 1972 with the vision to apply creative thinking and state-of-the-art technology to traditionally low-tech industries, bolstered by a corporate culture renowned for putting customer service first. Based in Chattanooga, Tennessee, the Astec Industries, Inc. family of companies has become a global leader in the manufacture of equipment for asphalt road building, aggregate processing, oil, gas and water well drilling and wood processing, among others.
Today Astec Industries, Inc. manufactures more than 220 products from rock crushing and screening plants to hot mix asphalt (HMA) facilities, concrete plants, water, gas and oil drilling rigs, geothermal drills, milling machines, asphalt pavers, material transfer vehicles, and wood processing equipment.
Astec's goal is to design, manufacture and provide the most innovative, productive and reliable equipment for the industries we serve, coupled with unparalleled customer service, training, education and support. No other company in the world competes with Astec in all or even most of its product lines. Astec’s innovative products have led to a continuous stream of new patents and are in ever increasing demand. The Astec companies have become leaders in their respective markets by giving Astec customers the means to be more productive and profitable.
Ultimately, our goal is to design and build state-of-the-art equipment which makes it possible for our customers to supply their customers with industry leading results profitably.
For our customers, we will continue to be the most innovative company in our industry offering the world’s most advanced, productive, durable and environmentally friendly products, coupled with training and education, service and support that is far beyond anything offered by our competition.
For our shareholders, we strive to deliver continuous increases in shareholder value through stable long-term growth in earnings per share. To that end, we plan to expand and enhance the scope and profitability of our core business through internal growth and strategic acquisitions.
Our Core Values
- Continuous devotion to meeting the needs of our customers.
- Honesty and integrity in all aspects of business.
- Respect for all individuals.
- Preserving entrepreneurial spirit, innovation, and focus through decentralization.
- Safety, profit and growth as means to ensure success of the company.
Main Customer Base
Astec's global customer industries include:
- Highway Construction
- Civil Construction
- Open Mine and Quarry Operations
- Oil Field Service
- Wood Pellet Production
- Oil and Gas
- Soil Remediation
- Water Well Drilling
- Industrial Sites
Locations Around The World
Our Corporate Structure
On the corporate level, Astec Industries, Inc. (NASDAQ: ASTE) consists of a small group of executive officers and staff who provide strategic direction and coordination, funding and oversight to a family of operating subsidiaries. Each company has its own management team with the industry experience and technical expertise to enable that company to grow and prosper in its target market. Each of the Astec companies has considerable autonomy and flexibility to organize and equip itself in a manner that maximizes its opportunities in its target market.
Benjamin G. Brock
President and Chief Executive Officer
Richard J. Dorris
Executive Vice President and Chief Operating Officer
W. Norman Smith
David C. Silvious
Vice President, Chief Financial Officer and Treasurer
Group President - Infrastructure
Richard A. Patek
Group President - Aggregate and Mining International
Jeffrey J Elliott
Group President - Aggregate and Mining U.S.A.
Jaco van der Merwe
Group President - Energy
Stephen C. Anderson
Vice President of Administration, Corporate Secretary and Director of Investor Relations
Robin A. Leffew
Conflict Minerals Policy
Astec has established a policy governing the use of Conflict Minerals. This policy can be viewed by clicking the link below. Questions about Astec’s policy may be directed to the Astec’s Compliance Officer at (423) 553-5934.