Astec mark five decades in business
Company celebrates 50 years of manufacturing heavy equipment that connects the world
ASTEC Industries Inc. are celebrating 50 years of designing and manufacturing heavy equipment used to build the infrastructure that connects the world. Founded on 9 August 1972 by Dr J. Don Brock, along with friends Norm Smith, Al Guth, Gail Mize, and Mike Uchytil, the company has grown into a global, billion-dollar manufacturer of equipment for road building and construction-related projects.
‘Dr Brock was an inventor and entrepreneur, and under his leadership Astec revolutionized the industry with iconic products like the Double Barrel Drum Asphalt Plant and the Shuttle Buggy Material Transfer Vehicle,’ said Barry Ruffalo, president and chief executive officer of Astec. ‘We carry forward his spirit of innovation and commitment to customers as we evolve our operations to work more efficiently and drive more value through our rock-to-road portfolio of products.’
Today, Astec are one-stop-shop manufacturers of more than 100 products for asphalt road building, aggregate processing, and concrete production, employing more than 4,000 people with sales and manufacturing operations located around the world.
As part of their celebrations and to honour the legacy of their founder, Astec are committing US$1 million to the Dr J. Don Brock Astec Industries Inc. Memorial Scholarship Endowment established at the University of Tennessee Foundation Inc. Awarded to children and grandchildren of current employees, the scholarship endowment is designed to encourage the study of science, technology, engineering, and maths (STEM).
‘Dr Brock had more than 100 patents to his name. He had a passion for learning, but he also had a reputation for being a great teacher,’ explained Mr Ruffalo. ‘I can’t think of a better way to honour his legacy than encouraging the next generation of innovators at Astec.’
To commemorate the 50th anniversary milestone, company leaders rang the Nasdaq opening bell and will hold celebrations throughout the month with their thousands of employees worldwide.