Astec bullish for year ahead

Ben Brock, CEO of Astec Industries, painted a picture of strong financial performance for the firm at CONEXPO-CON/AGG 2017. He said that 2016 was a good year for the group due to the most recent highway bill and commented: “It gave our customers the confidence to place orders.”
March 9, 2017 Read time: 2 mins
Astec CEO Ben Brock explained how the firm sees a strong year ahead

Ben Brock, CEO of 681 Astec Industries, painted a picture of strong financial performance for the firm at CONEXPO-CON/AGG 2017. He said that 2016 was a good year for the group due to the most recent highway bill and commented: “It gave our customers the confidence to place orders.”

At present the company is heavily reliant on its US business though, which accounted for 82% of its sales in 2016. Brock commented that the strength of the US currency makes it harder to compete overseas at present. But he believes that overseas orders will grow and commented, “We are maintaining our sales and support network worldwide.”

Brock added: “We see growth opportunities in 2017 and our infrastructure customers are seeing a good market.”

Brock believes the company is in a very strong position financially as it has no debt and is actively looking for further acquisitions that would complement its portfolio. One of the most recent additions to the group is 3242 Telestack, which manufactures portable conveyors that slot in well alongside the existing crushing and screening lines. However, Brock did not say from which areas the firm is looking to develop its range.

The firm is also continuing to invest in research and development for its 19 subsidiaries and is introducing an array of new products from all of its different operations.

For more information on companies in this article

Related Content

  • BOMAG is launching new road construction machines
    October 6, 2015
    German firm BOMAG continues to grow its presence in the road construction equipment sector. In the 10 years since BOMAG was purchased by the French Fayat Group, BOMAG has broadened its product range beyond being a leader in the compaction sector and invested heavily in its manufacturing facilities. It has also forged strong links with its Italian sister company Marini, the asphalt plant manufacturer, with the two jointly developing a wide array of asphalt road construction technologies. BOMAG recently he
    Read More
  • Hill & Smith reports strong financial performance
    November 18, 2016
    Hill & Smith Holdings reports a healthy performance for the period 1 July 2016 to 31 October 2016. The firm’s board says that trading has continued to be encouraging and that it expects Group trading performance for the current financial year to be at the top end of market expectations. The group’s results will also benefit from the positive translational impact on its overseas earnings from the recent weakness in Sterling.
    Read More
  • SANY occupies a strong position in China as well as worldwide
    January 6, 2017
    SANY president Wenbo Xiang is confident for the firm’s future as a major international player - Mike Woof reports One of China’s biggest and most powerful companies, the SANY Group is looking to further expansion.
    Read More
  • SANY occupies a strong position in China as well as worldwide
    November 12, 2014
    SANY president Wenbo Xiang is confident for the firm’s future as a major international player - Mike Woof reports One of China’s biggest and most powerful companies, the SANY Group is looking to further expansion.
    Read More

Highlighted Content