Gencor Industries manufactures heavy machinery for highway construction, with a focus on asphalt production equipment. Gencor's core product is the hot mix asphalt (HMA) plant — large, custom-built machines that produce the asphalt paving material used to build and resurface roads. Gencor sells these under its H&B brand, which dates to 1894 and which Gencor claims pioneered counter flow drum mix technology, now an industry standard. Gencor also sells asphalt pavers under the Blaw-Knox brand, a name in road paving since 1929 that Gencor acquired from Volvo Construction Equipment in 2020. Supporting products include combustion systems and thermal fluid heat transfer systems. Gencor sells to highway construction and paving contractors through a mix of in-house sales reps and independent dealers. Revenue is driven by the volume and scale of equipment sold, and demand is heavily tied to federal and state highway funding. The business is seasonal — most orders arrive between October and February, and most shipments go out before June. Gencor also carries a large investment portfolio on its balance sheet, a legacy of cash accumulated from synthetic fuel production investments made in 1998 that generated significant cash flows and tax credits through 2010.