Gencor Industries, Inc.
−Removed: and its subsidiaries (the “Company,” “Gencor,” “we,” “us” or “our”) is a leading manufacturer of heavy machinery used in the production of highway construction materials and environmental control equipment.
−Removed: The Company’s products are manufactured in the United States.
−Removed: The Company’s products are sold through a combination of Company sales representatives and independent dealers and agents located throughout the world.
−Removed: The Company designs, manufactures and sells machinery and related equipment used primarily for the production of asphalt and highway construction materials.
−Removed: The Company’s principal core products include asphalt plants, combustion systems and fluid heat transfer systems.
+Added: and its subsidiaries (the “Company,” “Gencor,” “we,” “us” or “our”) is a leading manufacturer of heavy machinery used in the production of highway construction equipment and materials and environmental control equipment.
+Added: The Company’s products are manufactured in the United States and sold through a combination of Company sales representatives and independent dealers and agents located throughout the world.
+Added: The Company designs, manufactures and sells machinery and related equipment used primarily for the production of asphalt and highway construction equipment and materials.
+Added: The Company’s principal core products include asphalt pavers, hot mix asphalt plants, combustion systems, and fluid heat transfer systems.
The Company believes that its technical and design capabilities and environmentally friendly process technology have enabled it to become a leading producer of hot mix asphalt plants and related components in North America.
2 unchanged sentences
Traditionally, the Company’s customers do not purchase new equipment during the summer and fall months to avoid disrupting their peak season for highway construction and repair work.
−Removed: The majority of orders for the Company’s asphalt plants are typically received between October and February, with a significant volume of shipments occurring prior to June.
+Added: The majority of orders for the Company’s asphalt plants and pavers are typically received between October and February, with a significant volume of shipments occurring prior to June.
The principal factors driving demand for the Company’s products are the level of federal and state funding for domestic highway construction and repair, the replacement of existing plants, and a trend towards efficient, larger plants.
3 unchanged sentences
In 1985, the Company began a series of acquisitions into related fields starting with the Beverley Group Ltd.
−Removed: (“Beverley”) in the United Kingdom (the “UK”).
−Removed: Hy-Way Heat Company, Inc.
−Removed: (“Hy-Way Heat”) and the Bituma Group were acquired in 1986.
+Added: (“Beverley”) in the United Kingdom.
+Added: Heat Company, Inc.
+Added: Heat”) and the Bituma Group were acquired in 1986.
In 1987, the Company changed its name to Gencor Industries, Inc.
1 unchanged sentence
and its subsidiaries in 1988.
−Removed: In 1998, the Company entered into agreements with Carbontronics, LLC (“CLLC”) pursuant to which the Company designed, manufactured, sold and installed four synthetic fuel production plants.
+Added: In 1998, the Company entered into agreements with Carbontronics, LLC, pursuant to which the Company designed, manufactured, sold and installed four synthetic fuel production plants.
In addition to payment for the plants, the Company received membership interests in two synthetic fuel entities.
4 unchanged sentences
Gencor’s ownership in the two synthetic fuel entities ended in 2013.
−Removed: In October 2020, the Company acquired the Blaw-Knox paver business from Volvo Construction Equipment North America, LLC (“Volvo CE”).
−Removed: The acquisition expands the Company’s product offerings by adding highway class asphalt pavers to its asphalt plant and related equipment products.
−Removed: Operations will continue with Blaw-Knox’s in place management and workforce.
+Added: On October 1, 2020, the Company acquired the Blaw-Knox assets from Volvo Construction Equipment North America, LLC (“Volvo CE”).
+Added: The acquisition expanded the Company’s product offerings by adding highway class asphalt pavers to its asphalt plant and related equipment products.
Asphalt Plants
13 unchanged sentences
Fluid Heat Transfer Systems
−Removed: The Company’s General Combustion subsidiary manufactures the Hy-Way Heat and Beverley lines of thermal fluid heat transfer systems and specialty storage tanks for a wide array of industry uses.
+Added: The Company’s General Combustion subsidiary manufactures the Hy-Way
+Added: Heat and Beverley lines of thermal fluid heat transfer systems and specialty storage tanks for a wide array of industry uses.
Thermal fluid heat transfer systems are similar to boilers, but use high temperature oil instead of water.
15 unchanged sentences
The Company may augment internal production by outsourcing some of its production when demand for its products exceeds its manufacturing capacity.
−Removed: The Company is concentrated in the manufacturing of asphalt plants and related components, which is typically subject to a seasonal slow-down during the third and fourth quarters of the calendar year.
+Added: The Company is concentrated in the manufacturing of asphalt pavers, asphalt plants and related components, which is typically subject to a seasonal slow-down during the third and fourth quarters of the calendar year.
The markets for the Company’s products are highly competitive.
The industry remains fairly concentrated, with a small number of companies competing for the majority of the Company’s product lines.
−Removed: The principal competitive factors include quality, price, delivery, and technology.
+Added: The principal competitive factors include quality, price, delivery, availability, and technology.
The Company believes it manufactures the highest quality and heaviest equipment in the industry.
9 unchanged sentences
Licenses, Patents and Trademarks
−Removed: The Company held numerous patents covering technology and applications related to various products, equipment and systems, and numerous trademarks and trade names registered with the U.S.
+Added: The Company holds numerous patents covering technology and applications related to various products, equipment and systems, and numerous trademarks and trade names registered with the U.S.
Patent and Trademark Office and in various foreign countries.
22 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.