![Astec Leadership At Nasdaq Opening Bell[35]](https://img.forconstructionpros.com/files/base/acbm/fcp/image/2022/08/Astec_Leadership_at_Nasdaq_opening_bell_35_.62f2ac0c93d46.png?auto=format%2Ccompress&fit=crop&h=288&q=70&w=512)
In an era of business and technology so often bogged down in a steady churn of start-up culture, where new companies appear, rise to the top and then, just as quickly seem to evaporate overnight. A company that can put even a decade or more behind its name instills a modicum of confidence. Even still, the COVID-19 pandemic and other waves of change in the world have bore witness to the end of even well established, well-known company names. So, today, as Astec rings the NASDAQ opening bell to commemorate their historic fifty years in the industry, it's difficult to adequately name the real achievement that it is.
A Humble Start
The company was born from a kitchen round table discussion amongst friends, the encapsulation of an American boot-strap story. A group of people with an idea to create something new out of virtually nothing. Founded on August 9, 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 CEO of Astec. “We carry his spirit of innovation and commitment to customers forward as we evolve our operations to work more efficiently and drive more value through our rock to road portfolio of products.”
What started from such humble beginnings has now exists as one of the forefront leaders of the industry. Astec now manufacturers more than one hundred products in the markets of asphalt roadbuilding, aggregate processing and even concrete production. Five people, fifty years ago today, has become an expansive team of over four-thousand individuals. A network of sales and manufacturing operations stationed here in the United States and abroad.
Continuing a Legacy
It is one thing to reach this level of success and longevity, stand back and appreciate it for what it is. It is another thing entirely to recognize its impact and decide to dedicate enormous resources to ensure that legacy lives on even beyond the confines of the company or entity itself. However, as part of their fifty year celebration, that is exactly what Astec aims to do by committing one-million dollars to the Dr. J Don Brock Astec Industries, Inc. Memorial Scholarship Endowment, established at the University of Tennessee Foundation. This award will go exclusively to the decedents (children or grandchildren) of current Astec employees. The endowment was set in place for the explicit furthering of the study of science, technology, engineering, and math (STEM) program.
“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 Ruffalo. “I can’t think of a better way to honor his legacy than encouraging the next generation of innovators at Astec.”
To learn more about the history of Astec, watch the company’s 50th Anniversary Celebration video.
For more information, visit astecindustries.com and connect with us on LinkedIn, Facebook, Instagram, YouTube and Twitter.
