Issue link: http://read.dmtmag.com/i/276196
In the meantime, we are developing and improving our equipment for the energy and mining business. We have successfully sold a number of our 500K oil and gas drilling rigs, pump trailers, hot water heaters for fracking, and thermal oil heaters for natural gas pro- cessing. On the renewable side of the energy business, we have completed installation of the first line of a large wood pellet plant for FRAM Renewable Fuels in Hazlehurst, Georgia. The plant was started at the end of the year and the customer has given us the order for two additional lines to go with the plant. We are optimistic we will sell additional pellet plants in 2014, based on the performance of this new facility. In the mining segment, we are constructing a manu- facturing facility to fabricate crushing and screening equipment in Brazil. This plant should be operational during the second half of 2014. We are also developing the T-Series cone crushers at Telsmith, Inc. The large 900 horsepower unit is finished and is being proto- typed at this time. We see growth in track mounted crushers and screens, both in units we sell through our Aggregate and Mining Group and unit machines we sell to other OEM's to mount on their track chassis. These highly mobile units are changing the landscape of crushing equipment in the United States as well as other countries around the world. To our surprise, these units are also being used in many mining appli- cations, particularly for opening new sites and for maintaining leases on existing sites. Through our R&D efforts in the asphalt side of the business, we have developed equipment that will allow our customers to produce up to 70% recycled material through our existing Double Barrel facilities. We have also developed a new 100% recycle plant. Carlson Paving Products, Inc. has successfully designed and marketed a line of commercial pavers and is grow- ing that business. Roadtec, Inc. is expanding in the European market with its product lines, and we con- tinue to introduce new products from our domestic companies into the Australian market. Astec Australia sold its first major crushing plant during 2013 into the mining market there. We are investing in our international sales effort in all of our companies. We also remain diligent with our focus groups, lean manufacturing, and safety initiatives. Per our previously announced succession plan, I stepped down as CEO of the Company effective January 1, 2014. I remain with the Company as Chairman of the Board. In my new role, I will mentor our new CEO and COO while continuing to be active in our R&D and sales efforts. Our new President and CEO is Benjamin G. Brock (Ben), who has been with the Company for over 20 years, most recently as President of the Astec, Inc. operation and as Group President of the Asphalt Group. Also changing roles as a result of our succession planning is W. Norman Smith (Norm). Norm stepped down as President and Chief Operating Officer of the Company. Norm is now Vice Chairman of the Board. In his new role, he will remain Group President of Mobile Asphalt Paving and continue to be active in sales. Our new Executive Vice President and COO is Richard J. Dorris (Rick) who has been in the asphalt equipment industry for over 30 years, and previously served as President of Heatec, Inc. and Group President of the Energy Group. With the succession of these two men, along with retirements in other areas, we now have five recently appointed presidents effective January 1, 2014. We are extremely pleased that all of the new subsidiary pres- idents, as well as our new CEO and COO, have come from within the Company. Over the last forty years, it has been my desire to not only grow the Company, but to also grow the management team. It is extremely rewarding to see us have succession plans in place where we can promote from within our existing orga- nization. This group of individuals will continue to maintain our core values and focus on the growth of our companies through innovative and new product development, coupled with industry leading customer service. We believe that our new executive manage- ment team is well-seasoned and prepared to take the Company to the next level. The skills that Norm and Astec Industries, Inc. | 03