Astec Industries, Inc. designs, engineers, manufactures, markets and services equipment and components used primarily in asphalt and concrete road building and related construction activities. The company also provides industrial automation controls and telematics platforms as well as equipment for the mining, quarrying, construction, demolition, land clearing, energy, hydroelectric, recycling and port and rail yard industries. Additionally it offers industrial heat transfer equipment, commercial whole tree pulpwood chippers, horizontal grinders, blower trucks, commercial and industrial burners, and combustion control systems. Astec operates manufacturing sites and sales service offices in the United States, Canada, Brazil, China, India, South Africa, the United Kingdom, Australia, Chile, Thailand, Sweden and other countries serving a global customer base.

Revenue is generated primarily from the sale of equipment replacement parts and aftermarket service and support. The company sells asphalt plants, concrete plants and related components, industrial automation controls, telematics platforms, and a broad range of machinery for mining, quarrying, construction, demolition, land clearing, energy, hydroelectric, recycling and port and rail yard operations. It also provides parts for its own equipment and for some competitors' equipment and offers installation, maintenance, training, and technical assistance to customers. The aftermarket business contributes a significant portion of total sales because customers rely on Astec for spare parts, wear items, and component upgrades throughout the equipment life cycle.

The company operates through the following segments: Infrastructure Solutions and Materials Solutions.

• Infrastructure Solutions: This segment designs, engineers, manufactures and markets a complete line of asphalt plants, concrete plants and their related components and ancillary equipment, including industrial automation controls and telematics platforms, as well as asphalt road construction equipment, industrial thermal systems, land clearing, recycling and other heavy equipment. Product offerings include batch and drum mix asphalt plants, stationary and portable concrete plants, fuel and liquid asphalt storage tanks, thermal fluid heaters, polymer plants, heat recovery units, asphalt pavers, material transfer vehicles, milling machines, wood chippers, grinders, blower trucks, and trailers.

• Materials Solutions: This segment designs and manufactures heavy equipment used in aggregate and minerals processing operations and provides servicing rebuilding and parts supply for crushers, screens, washing plants, material handling systems and rock breaker equipment. The product line includes jaw crushers, horizontal shaft impactors, vertical shaft impactors, cone crushers, heavy duty mining application crushers, incline screens, horizontal screens, high frequency screens, multi frequency screens, dewatering screens, washing plants, classifying plants, fines recovery systems, water clarification systems, radial and telescoping conveyors, truck unloaders, hopper feeders, pugmills, ship loaders and unloaders, bulk reception feeders, rock breaker systems, hydraulic breakers, compactors, and pulverizers.

The Infrastructure Solutions and Materials Solutions segments operate in highly competitive and fragmented markets where firms compete on product performance innovation range service and price. The Infrastructure Solutions segment faces competitors such as Asphalt Drum Mixers LLC, Fayat Group, Diamond Z Morbark LLC, Alamo Group, Asphalt Equipment Company Inc. dba ALmix, Doppstadt, Stephens Manufacturing Company, Ammann Group, Dynapac (part of Fayat Group), Tigercat Industries, Bandit Industries, Inc., EDGE Innovate, LTD, The Vince Hagan Company, Benninghoven (part of Wirtgen Group, a John Deere Company), ERIE Strayer Company, Vogele (part of Wirtgen Group, a John Deere Company), Bomag (part of Fayat Group), Gencor Industries, Inc., Weiler Inc., Caterpillar Paving Products (part of Caterpillar, Inc.), LeeBoy (part of Fayat Group), Wirtgen Group (a John Deere Company), and CMI Roadbuilding Inc. The Materials Solutions segment competes with CDE Group, Masaba, Inc., Terex Corporation, Conn-Weld Industries, LLC, McCloskey International (part of Metso Corporation), Thor Manufacturing Ltd., Deister Machine Company, Inc., McLanahan Corporation, The Weir Group PLC, Epiroc, Metso Corporation, Wirtgen Group (a John Deere Company), EDGE Innovate, LTD, Sandvik Group, FLSmidth & Co A/S, and Superior Industries, Inc. Competitive advantages stem from Astec’s long history of innovation spanning over fifty years, an extensive product portfolio that covers every stage of road building and material processing, a strong aftermarket parts business that provides recurring revenue, the development of a digital ecosystem featuring the Astec Signal platform for equipment monitoring and data analytics, a global manufacturing footprint with facilities in North America South America Europe Asia and Africa, and a clear focus on sustainability through warm mix asphalt technology alternative fuel compatible burners and compliance with EPA Tier 4 Final and European Stage V emissions standards.

The company serves asphalt and concrete producers, highway and heavy equipment contractors, utility contractors, sand and gravel producers, construction, demolition, recycling and crushing contractors, forestry and environmental recycling contractors, mine and quarry operators, port and inland terminal authorities, power stations, and domestic and foreign government agencies. In addition, Astec supplies equipment to mining companies, quarry operators, hydroelectric facilities, recycling centers, land clearing contractors, and forestry businesses. Its aftermarket parts are sold to equipment owners, repair shops, and distributors worldwide.