Key Developments: Astec Industries Inc (ASTE.O)
34.71USD
23 May 2013
$0.07 (+0.20%)
$34.64
$34.34
$34.92
$34.14
33,320
73,583
$36.99
$26.09
Latest Key Developments (Source: Significant Developments)
Astec Industries Inc Announces Declaration Of Quarterly Dividend
Astec Industries Inc announced that its Board of Directors, at their April 25, 2013 meeting, has declared a $0.10 per share cash dividend on the outstanding common stock of the Company, payable to the shareholders of record as of the close of business on May 13, 2013, to be paid on or after May 30, 2013. Full Article
Astec Industries Inc Announces Management Change-Form 8-K
Astec Industries Inc reported in its Form 8-K that on March 4, 2013, the Company announced that its Board of Directors has established a leadership succession plan pursuant to which it intends to transition the position of Chief Executive Officer (CEO) and President to Benjamin G. Brock and the position of Chief Operating Officer and Executive Vice President to Richard J. Dorris. Pursuant to the succession plan, Dr. J. Don Brock, who currently serves as the Company’s Chief Executive Officer (CEO), will continue to lead the Company as the Executive Chairman of the Company’s Board of Directors. In addition, W. Norman Smith, who currently serves as the Company’s President and Chief Operating Officer, will transition to the role of Vice-Chairman of the Company’s Board of Directors. Full Article
Astec Industries Inc Declares Special One-Time Dividend
Astec Industries Inc announced that the Board of Directors declared a special one-time dividend of $1.00 per share to be paid on December 12, 2012 to shareholders of record as of November 20, 2012. Full Article
The Toro Company Acquires Utility Trenchers, Vibratory Plows And Directional Drills From Astec Industries, Inc.'s Astec Underground, Inc.
The Toro Company announced that it has acquired certain utility and underground product assets of Astec Underground, Inc., a wholly owned subsidiary of Astec Industries, Inc. Terms of the transaction were not disclosed. Through the acquisition, Toro has acquired Astec Underground’s equipment line of vibratory plows, trenchers and horizontal directional drills for the underground utilities market. Typically used in the installation, repair and replacement of utilities with minimal impact on surrounding landscapes or structures, these products are designed for power distribution, telecommunications, utility companies, and landscape and irrigation contractors. The products Toro is acquiring, which does not include Astec’s Trencor product line, are manufactured at the Astec Underground facility in Loudon, Tennessee. Full Article
Astec Industries, Inc. To Acquire GEFCO And STECO
Astec Industries, Inc. announced that it has entered into a definitive agreement to acquire substantially all of the assets and certain liabilities of the GEFCO and STECO divisions of Blue Tee Corp. GEFCO (formerly known as George E. Failing Company) is a manufacturer of portable drilling rigs and related equipment for the water well, environmental, groundwater monitoring, construction, mining and shallow oil & gas exploration and production industries. The transaction is expected to close during the fourth calendar quarter. The total purchase price for the acquisition is approximately $26 million but is subject to certain closing adjustments. Full Article
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