Profile: Astec Industries Inc (ASTE.OQ)

ASTE.OQ on NASDAQ Stock Exchange Global Select Market

42.16USD
9 Jul 2014
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Astec Industries, Inc., incorporated on August 9, 1972, designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. The Company's products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface. The Company manufactures certain equipment and components unrelated to road construction, including equipment for the mining, quarrying, construction and demolition industries; gas and oil drilling rigs; water well and geothermal drilling rigs; industrial heat transfer equipment; whole-tree pulpwood chippers; horizontal grinders, and blower trucks. The Company operates in four segments: Asphalt Group, Aggregate and Mining Group, Mobile Asphalt Paving Group and Underground Group.The Company also manufactures a line of multiple use plants for cement treated base, roller compacted concrete and ready-mix concrete. In April 2014, the Company acquired Telestack Ltd.

The Company's subsidiaries hold 83 United States patents and 40 foreign patents with 73 patent applications pending and have been responsible for many technological and engineering in the industries. The Company's products are marketed both domestically and internationally. In addition to equipment sales, the Company manufactures and sells replacement parts for equipment in each of its product lines and replacement parts for some competitors' equipment. The Company's fifteen manufacturing subsidiaries include Breaker Technology Ltd/Inc., Johnson Crushers International, Inc., Kolberg-Pioneer, Inc., Osborn Engineered Products SA (Pty) Ltd, Astec Mobile Screens, Inc., Telsmith, Inc.,) Astec, Inc., CEI Enterprises, Inc., Heatec, Inc., Astec Underground, Inc., Carlson Paving Products, Inc., Roadtec, Inc., Peterson Pacific Corp., GEFCO, Inc., and Astec Mobile Machinery GmbH.

Asphalt Group

The Asphalt Group segment is made up of three business units: Astec, Inc. (Astec), Heatec, Inc. (Heatec) and CEI Enterprises, Inc. (CEI). These business units design, engineer, manufacture and market a complete line of asphalt plants, concrete mixing plants, wood pellet plants, and related components of each, heating and heat transfer processing equipment and storage tanks for the asphalt paving and other non-related industries. Astec designs, engineers, manufactures and markets a line of portable, stationary and relocatable hot-mix asphalt plants and related components under the ASTEC trademark,as well as a line of concrete mixing plants. An asphalt mixing plant consists of heating and storage equipment for liquid asphalt (manufactured by CEI or Heatec); cold feed bins for blending aggregates; a counter-flow continuous type unit (Astec Double Barrel) for drying, heating and mixing; a baghouse composed of air filters and other pollution control devices; hot storage bins or silos for temporary storage of hot-mix asphalt; and a control house.

The Company’s current generation of portable asphalt plants is marketed as the Six Pack and consists of six or more portable components, which can be disassembled, moved to the construction site and reassembled, thereby reducing relocation expenses. Astec's enhanced version of the Six Pack, known as the Turbo Six Pack, is a portable plant, which is useful in less populated areas where plants must be moved from job-to-job and can be disassembled and erected without the use of cranes. Astec developed a Double Barrel Green System (patent pending), which allows the asphalt mix to be prepared and placed at lower temperatures than conventional systems and operates with a substantial reduction in smoke emissions during paving and load-out. The Company's Astec multi-nozzle device eliminates the need for the expensive additives by mixing a small amount of water and asphalt cement together to create microscopic bubbles that reduce the viscosity of the asphalt mix coating on the rock, thereby allowing the mix to be handled and worked at lower temperatures.

The components in Astec's asphalt mixing plants are fully automated and use both microprocessor-based and programmable logic control systems for efficient operation. The plants are manufactured to meet or exceed federal and state clean air standards. Astec also builds batch type asphalt plants and has developed specialized asphalt recycling equipment for use with its hot-mix asphalt plants. Astec's concrete production equipment is designed to be easy to operate and maintain. Materials are managed with continuous blending using belt scales and variable frequency conveyor drives. Shaft-driven mixers with high-torque folding action deliver a uniform concrete mix. Astec's tower plants, which are designed in modular configurations for either dry or wet arrangements, provide an exciting new alternative in vertical stationary concrete plants.

Heatec designs, engineers, manufactures and markets a range of thermal fluid heaters, process heaters, waste heat recovery equipment, liquid storage systems and polymer and rubber blending systems under the HEATEC trademark. For the construction industry, Heatec manufactures a line of asphalt heating and storage equipment to serve the hot-mix asphalt industry and water heaters for concrete plants. In addition, Heatec builds a range of industrial heaters to fit a range of applications, including heating equipment for marine vessels, roofing material plants, refineries, oil sands, energy related processing, chemical processing, rubber plants and the agribusiness. CEI designs, engineers, manufactures and markets thermal fluid heaters, storage tanks, hot-mix asphalt plants, rubberized asphalt and polymer blending systems under the CEI trademark. CEI designs and builds heaters with outputs up to 10,000,000 BTU's per hour and portable, vertical and stationary storage tanks up to 40,000 gallons in capacity. CEI's hot-mix plants are built for domestic and international use and employ parallel and counter flow designs with capacities up to 180 tons per hour. CEI is a supplier of crumb rubber blending plants in the United States.

The Company competes with Terex Corporation, Gencor Industries, Inc., ADM, Almix, Ammann, Parker, Cifali, Speco, Gencor Industries, Inc., American Heating, Pearson Heating Systems, Reliable Asphalt Products, Meeker, Sigma Thermal, Fulton Thermal Corporation and Vapor Power International.

Aggregate and Mining Group

The Company's Aggregate and Mining Group is consists of seven business units focused on the aggregate, metallic mining, quarrying and recycling markets. These business units are Telsmith, Inc. (Telsmith), Kolberg-Pioneer, Inc. (KPI), Astec Mobile Screens, Inc. (AMS), Johnson Crushers International, Inc. (JCI), Breaker Technology Ltd/Breaker Technology Inc. (BTI), Osborn Engineered Products, SA (Pty) Ltd (Osborn) and Astec Agregados E Mineracao Do Brasil LTDA (Astec Brazil). Telsmith's core products are jaw, cone and impact crushers, as well as vibrating feeders and inclined and horizontal screens. Telsmith also provides consulting and engineering services to provide complete turnkey processing systems. Both portable and modular plant systems are available in production ranges from 300 total petroleum hydrocarbons (tph) to 1500 total petroleum hydrocarbons.

KPI designs, engineers, manufactures and supports a line of aggregate processing equipment for the sand and gravel, mining, quarrying, concrete and asphalt recycling markets under the KPI-JCI product brand name. This equipment, along with the line of portable and stationary aggregate and ore processing products from JCI and the related screen products from AMS, are all jointly marketed through an extensive network of KPI-JCI and AMS dealers. KPI products include a line of primary, secondary, tertiary and quaternary crushers, including jaw, horizontal shaft impactor, vertical shaft impactor and roll crushers. KPI rock crushers are used by mining, quarrying and sand and gravel producers to crush oversized aggregate to salable size, in addition to their use for recycled concrete and asphalt. Equipment furnished by KPI can be purchased as individual components, as portable plants for flexibility or as completely engineered systems for both portable and stationary applications. KPI is offering a newly expanded Global Trax line of these track-mounted crushers to focus more specifically on the global market and meet the needs for that type of equipment in more countries.

KPI sand classifying and washing equipment is designed to clean, separate and re-blend deposits to meet the size specifications for critical applications. KPI products include fine and coarse material washers, log washers, blade mills and sand classifying tanks. KPI also offers additional portable and stationary plants to handle the growing needs in specialty sands and fines recovery. Screening plants are available in both stationary and portable models and are complemented by a line of radial stacking and overland belt conveyors. KPI conveying equipment is designed to move or store aggregate and other bulk materials in radial cone-shaped or windrow stockpiles. JCI designs, engineers, manufactures and distributes portable and stationary aggregate and ore processing equipment. This equipment is used in the aggregate, mining and recycling industries. JCI's principal products are cone crushers, three-shaft horizontal screens, portable plants, track-mounted plants and replacement parts for competitive equipment. JCI offers re-manufactured cone crushers and screens from its service repair facility.

Portable plants combine various configurations of cone crushers, horizontal screens, combo screens and conveyors, mounted on tow away chassis. Track plants combine various configurations of cone crushers, horizontal screens, incline screens and conveyors, mounted on track chassis. AMS designs, engineers, manufactures and markets mobile screening plants, portable and stationary screen structures and vibrating screens designed for the recycle, crushed stone, sand and gravel, industrial and general construction industries. These screening plants include the AMS Vari-Vibe and Duo-Vibe high frequency screens and a new multi-frequency screen. The AMS high frequency screens are used for chip sizing, sand removal and sizing recycled asphalt where conventional screens are not ideally suited.

BTl designs, engineers, manufactures and markets a complete line of stationary rockbreaker systems for the mining, quarry and recycling industries and it provides large-scale stationary rockbreakers for open pit mining, as well as mid-sized stationary rock breakers for underground applications. BTl also designs, engineers, manufactures and markets a line of four wheel drive articulated production and utility vehicles for underground mining. In addition to supplying equipment for the mining and quarry industries, BTl also designs, manufactures and markets a line of hydraulic breakers, compactors and demolition attachments for the North American construction and demolition markets. Osborn maintains designs, engineers, manufactures and markets a line of bulk material handling and minerals processing equipment. This equipment is used in the aggregate, mining, metallurgical and recycling industries.

The Company competes with Metso, Cedarapids, Powerscreen and Finlay, Pegson, Jacques, subsidiaries of Terex Corporation, Deister, F. L. Smith, McLanahan and Sandvik.

Mobile Asphalt Paving Group

The Mobile Asphalt Paving Group is consists of Roadtec, Inc. (Roadtec), Carlson Paving Products, Inc. (Carlson) and Astec Mobile Machinery GmbH (Astec Mobile Machinery). Roadtec designs, engineers, manufactures and markets asphalt pavers, material transfer vehicles, milling machines and a line of asphalt reclaiming and soil stabilizing machinery. Carlson designs, engineers and manufactures asphalt paver screeds that attach to the asphalt paver to control the width and depth of the asphalt as it is applied to the roadbed. Carlson also manufactures windrow pickup machines which transfer hot mix asphalt from the road bed into the paver's hopper and a heavy duty commercial class 8 feet. asphalt paver designed for parking lots, residential and other secondary roads. Astec Mobile Machinery serves as a distributor for Roadtec's products in Europe and also designs, manufactures and markets screeds primarily for road construction markets outside the United States, as well as a small road widener attachment.

Roadtec's Shuttle Buggy is a mobile, self-propelled material transfer vehicle, which allows continuous paving by separating truck unloading from the paving process while remixing the asphalt. Asphalt pavers are used in the application of hot-mix asphalt to the road surface. Roadtec manufactures milling machines designed to remove old asphalt from the road surface before new asphalt mix is applied. Roadtec's milling machine lines, for jobs, are manufactured with a simplified control system, conveyors, direct drives and a range of horsepower and cutting capabilities to provide versatility in product application. Astec Mobile Machinery is functioning primarily as a distributor for Roadtec products in Europe. In additionally, it designs and manufactures screeds and a small road widener attachment designed to meet the needs of the European market.

The Company competes with Weiler, Caterpillar Paving Products, Inc., Volvo Construction Equipment, CMI Corporation, Vogele America, Dynapac, Wirtgen, CMI, Caterpillar, Bomag, Dynapac and Volvo.

Underground Group

The Underground Group consist of three manufacturing companies, Astec Underground, Inc. (Astec Underground), American Augers, Inc. (American Augers) and GEFCO, Inc. (GEFCO). GEFCO designs, engineers and manufactures a line of drilling rigs for the oil and gas, geothermal and water well industries, as well as its line of King Oil tools. Astec Underground produce high pressure diesel powered pump trailers used for fracking and cleaning oil and gas wells, in addition to the four track surface miner. Astec Underground also serves as a contract manufacturer for other companies, both inside and outside the Astec family of companies. Astec Underground's four track surface miner is a maneuverable 1,650-horsepower miner that can cut through rock ten feet wide and up to 26 inches deep in a single pass.

The Company competes with Versa Drill, Schramm, Atlas Copco, National Oil Well, Blohm & Vos, Oil Country, BVM, NOV/Rolligon, Stewart & Stevenson and Dragon.

Company Address

Astec Industries Inc

1725 Shepherd Road
CHATTANOOGA   TN   37421
P: +1423.8995898
F: +1423.8994456

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