Astec Industries, Inc. (Astec) designs, engineers, manufactures and markets equipment and components used primarily in road building, utility and related construction activities, as well as other products. Astec’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface. The Company also manufactures certain equipment and components unrelated to road construction, including trenching, auger boring, directional drilling, gas and oil drilling rigs, industrial heat transfer equipment, whole-tree pulpwood chippers, horizontal grinders and blower trucks. Astec operates in four business segments: Asphalt Group, Aggregate and Mining Group, Mobile Asphalt Paving Group and Underground Group. In February 2012, The Toro Company acquired certain utility and underground product assets of Astec Underground, Inc., a wholly owned subsidiary of the Company.