(By Balaseshan) Astec Industries Inc. (NASDAQ:ASTE), a manufacturer of specialized equipment for building, said it has promoted Norman Smith to President and Operating Chief, effective August 22.
In connection with Smith's promotion, Don Brock resigned from the role of President of Astec Industries, but he will continue to serve as its Chief Executive Officer.
Smith, who served as the company's director since 1982 and is a founder of Astec Industries, had served as the Group Vice President-Asphalt since 1998 and as President of Astec Inc. from 1994 to 2006 and President of Heatec Inc. from 1977 to 1994.
The company also promoted Benjamin Brock to Group Vice President – Asphalt, effective August 22. In addition, Brock is now responsible for Astec Australia Pty Ltd., which reports results in the Other Group of Astec Industries.
Benjamin Brock was appointed President of Astec Inc. in 2006. From 2003 to 2006 he held the position of Vice President-Sales of Astec Inc. and General Manager of CEI Enterprises Inc. from 1997 to 2002.
Additionally, Astec Industries promoted Richard Dorris to Group Vice President – Energy, effective August 22. He was appointed President of Heatec Inc. in 2004.
From 1999 to 2004, Dorris held the positions of National Accounts Manager and Director of Projects for Astec Inc. When Astec Inc. acquired Esstee Manufacturing Co. in 1999, Dorris was President of Esstee, a position he had held since 1990.
ASTE is trading up 0.39% at $30.63 on Wednesday. The stock has been trading between $26.48 and $40.68 for the past 52 weeks.