Manufacturing 2023: ASHLEY B. SMITH
CHAIRMAN, PRESIDENT AND CEO, SMITH-MIDLAND, MIDLAND
Smith, the third generation of his family to lead the precast concrete company, became CEO in 2018 and board chairman in 2022. The Fauquier County business was started by his grandfather, David G. Smith, in 1960 as Smith-Cattleguard, named for its concrete cattleguard innovation.
By 1995, Smith-Midland was a publicly traded company. Today, the company has manufacturing facilities in North and South Carolina, as well as subsidiaries Concrete Safety Systems, which rents concrete highway barriers, and Easi-Set Worldwide, which licenses Smith-Midland products.
Smith previously served as vice president of sales for Smith-Midland in Virginia and managing director of Easi-Set Industries. He has also served as vice president of Smith-Midland in Delaware since 1990 and as a director since 1994.
In fiscal year 2022, the company reported $50.1 million in revenue, just below 2021’s revenue of $50.6 million, but its fourth quarter results were much higher, with 45% improvement in revenue compared with the same quarter in 2021. Smith-Midland received a record $8.6 million contract for a North Carolina Department of Transportation project late last year.
Smith is a member of the board for Bridgewater College, his alma mater.