SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
(As Amended)
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 9, 1996
ASTEC INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Tennessee
(State or other jurisdiction of incorporation)
0-14714
(Commission File Number)
62-0873631
(IRS Employer Identification No.)
4101 Jerome Avenue
Chattanooga, Tennessee 37407
(Address of Principal Executive Offices)
(423) 867-4210
(Registrant's telephone number, including area code)
Page 1 of 7 Pages
The Exhibit Index is located on Page 5.
Item 5. Other Events.
Astec Industries, Inc. (the "Company") has determined
that it will no longer fund the operations of Astec-Europa GmbH,
its wholly owned subsidiary engaged in the manufacture and sale
of asphalt plants and certain related equipment in Hasselroth,
Germany, as the result of operating losses incurred by Astec-
Europa during the period ended December 31, 1995. Given the
current negative net worth of Astec-Europa, on February 9, 1996
its management was required by German law to file a request for
bankruptcy in Germany.
A copy of the press release issued by the Company with
respect to this event is filed herewith as Exhibit 21 and is
incorporated herein by reference. This press release corrects the
net income and earnings per share information for the period
ended December 31, 1995 previously disclosed by the Company in
its press release of February 20, 1996.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
21 Press Release, dated February 28, 1996.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
ASTEC INDUSTRIES, INC.
Date: March 14, 1996 By: /s/ J. Don Brock
President and Chairman
of the Board
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
Exhibits TO CURRENT REPORT ON FORM 8-K/A
Dated February 9, 1996
(As Amended)
ASTEC INDUSTRIES, INC.
<PAGE>
INDEX TO EXHIBITS Sequential
Exhibit Page No.
21 Press Release, dated February 28, 1996.
<PAGE>
EXHIBIT 21
Form of Press Release
For Additional Information Contact: Albert E. Guth, Sr. Vice President
Phone: (423) 867-4210
ASTEC INDUSTRIES INC. ANNOUNCES 1995 CHANGE IN NET INCOME
Chattanooga, Tennessee, February 28, 1996. Astec Industries, Inc.
(OTC) today announced it has increased net income for the year ended
December 31, 1995 to $4,560,000 from $2,340,000 as previously
reported on February 20, 1996. This change increases earnings to $.45
per share from $.23 per share for the year. The addition of $2,220,000
also increases the earnings as previously reported for the quarter ended
June 30, 1995, increasing net income to $4,730,000 from $2,510,000 as
previously reported on July 24, 1995. As a result of additional financial
analysis of the sale of Wibau-Astec it was discovered that the gain on
the sale of Wibau-Astec was understated.
The Company will file the appropriate reports with the Securities and
Exchange Commission and with NASDAQ.
Astec Industries, Inc., a manufacturer of asphalt mixing plants, paving
equipment, heat transfer equipment, aggregate crushing equipment,
excavating and trenching equipment, asphalt recycling equipment, and
soil remediation equipment is traded over-the-counter and is reported
on the NASDAQ National Market under the symbol ASTE.
