Heatec Revenue and Competitors

Heatec manufactures and markets a broad line of asphalt heating and storage equipment. In recent years Heatec successfully diversified into new markets totally unrelated to the HMA industry. Today you will find Heatec products at chemical plants, at oil-and-gas refineries, on off shore platforms and on barges. You will also find them at power generation plants, wood product manufacturers, food producers, textile factories, pharmaceutical companies, roofing manufacturers and others. Heatec refers to its non-asphalt products as "industrial" products. These have produced substantial increases in corporate sales over the past few years. Today, almost 50% of Heatec's production is for industrial applications not related to the hot mix industry. Heatec industrial products include heaters, vaporizers, and heat recovery units. The heaters are either horizontal or vertical and have either helical coils or serpentine coils. Heater and vaporizer sizes range from 0.7 to 75 million Btu/hour. Industrial products also include pump skids, storage tanks and expansion tanks. Heatec products for the HMA industry include helical coil heaters, direct-fired heaters, vertical storage tanks and horizontal storage tanks. Tank capacities range from 5,000 gallons (18,927 liters) to 35,000 gallons (132,000 liters). The company has expanded its asphalt product line to include terminal heaters, shipping containers, booster heaters, barrel melters, etc. Relatively new products include systems for mixing asphalt with polymers and ground tire rubber and storing the mixtures. The company was formed in 1972 to repair and service asphalt heaters that everyone called "the Chattanooga Heater." The first couple of years also included much design and fabrication work for storage tanks that were components of Astec batch plants and drum plants. Astec Industries bought the company in 1977 and it became known officially as Heatec. Heatec then focused on building heaters and storage tanks to support the Astec product line of hot-mix batch plants and drum-mix plants. Along the way, Heatec earned a solid reputation for listening carefully to what its customers have to say, instead of simply telling them what they need. Having an open mind has become a corporate characteristic at Heatec. Innovation and problem solving have become a way of life. Heatec has achieved several important "firsts": First US manufacturer to build special shipping containers for asphalt storage. First to design and manufacture special rubber and polymer-blending systems for asphalt terminals and the HMA industry. And, first with space-saving vertical tanks for storing liquid asphalt at hot mix asphalt producer plants. Heatec's willingness to tackle a wide variety of heating and storage applications has added immeasurably to its technology experience for nearly two and a half decades. That in turn has led to sales of Heatec products in many parts of the world. Moreover, that experience plus a willingness to explore new innovations will undoubtedly fuel Heatec's growth in future years.