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CHATTANOOGA, Tenn., Dec. 18 -- Astec Industries, Inc. (Nasdaq: ASTE) today announced that, effective January 1, 2007, J.
Neal Ferry, the Company's Executive Vice President and Group Vice
President, Aggregate and Mining, would assume the additional role of
Chief Operating Officer. Mr. Ferry brings considerable experience to
this position, having served as the Company's Executive Vice President
since January 2005, and Group Vice President, Aggregate and Mining
since May 2006. Prior to joining the Company, Mr. Ferry held numerous
positions in field operations, and corporate positions in purchasing,
equipment sales, and equipment maintenance management for Peter Kiewit
Sons, Inc. since 1971.
Commenting on the announcement, the
Company's Chairman of the Board, President and Chief Executive Officer,
Dr. J. Don Brock, said, "I am pleased with Mr. Ferry's appointment as
the Company's Chief Operating Officer. Neal brings a very strong
knowledge of construction equipment, is a strong leader and has
demonstrated his management ability. We have wanted
to create and fill this position for some time in order to allow me to
focus my efforts on further innovation, growth opportunities and
strategic initiatives."
Astec Industries, Inc. is a manufacturer of specialized
equipment for building and restoring the world's infrastructure.
Astec's manufacturing operations are divided into four business
segments: aggregate processing and mining equipment; asphalt production
equipment; mobile asphalt paving equipment; and underground boring,
directional drilling and trenching equipment.
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