Australia’s National Hire Group Posts Strong FY 2007 Increase
Australian rental company National Hire Group last week reported a net profit after tax of AU $19.3 million (about U.S. $15.8 million) for the year ended June 30, up 12.9 percent from $17.1 million for the previous corresponding period. ...
Atlas Copco Strengthens its Presence in the Balkans
Stockholm, Sweden-based Atlas Copco is opening two new customer centers in Croatia and Bosnia-Herzegovina through the acquisition of three construction and mining equipment distributors to support the fast growth in the region. The new customer centers will open Oct. 1. ...
Manitowoc Crane Group to Develop Manufacturing Facility in Slovakia
The Manitowoc Co. last week announced that it has reached an agreement with Valcovna profilov a.s. for the development of a crane manufacturing facility in Saris, Slovakia. The facility, which will be refurbished and re-equipped, will serve as the final manufacturing and assembly site for Grove, Potain, and Manitowoc cranes being delivered to customers in East European markets, particularly in Russia and the CIS....
Skyjack Agrees to Acquire Canadian Telehandler Maker CareLift
Consolidation continued in the aerial industry last week as Skyjack Inc. announced the signing of a share purchase agreement to acquire CareLift Equipment Limited, a telehandler manufacturer in Breslau, Ontario, Canada. ...
Skyjack Strength Holds Up Linamar’s Profits
Linamar Corp., Guelph, Ontario-based manufacturer of precision metallic components, modules and systems for global vehicle markets as well as Skyjack aerial work platforms, reported a small decline in second-quarter profit last week, even though revenues increased. The company earned CD $31.3 million (U.S. $29.1 million) in the quarter, or 45 Canadian cents per share, for the three months ended June 30, compared with a profit of CD $32.3 million (U.S. $30.4 million) for last year’s Q2. ...
Ahern Rentals Increases Volume 30% in Second Quarter
Ahern Rentals second-quarter revenues increased 30 percent from $63.3 million in the second quarter of 2006 to $82.2 million in the period ended June 30. Equipment rentals jumped 24 percent from $56.4 million in Q206 to $70 million in this year’s second quarter. Same branch revenues increased 19 percent year over year for the second quarter, a 10.8-percent hike, and an additional $2.9 million in revenue came from branches that were not yet open in 2006....
Wacker’s Sales, Profits Increase
Wacker Construction Equipment AG last week reported that results for the first half of fiscal 2007 align with budgetary targets, with group sales up 8.1 percent compared with the previous year. The company is expecting further sales and profit growth over the current fiscal year after the merger with Neuson Kramer Baumaschinen AG, based in Linz, Austria, goes ahead this summer....
Red Mountain Machinery Plans Relocation to Riverside County
Heavy equipment rental specialist Red Mountain Machinery last week announced plans to close the Escondido, Calif., facility that has been its headquarters since 1996 and open a new facility in Riverside County. Moving to the Riverside area will allow Red Mountain to extend its service area into the Inland Empire, the high desert area, Palm Springs and Los Angeles, while still allowing it the ability to service its San Diego-area customers....
RSC Holdings Elects Board Member, Expands Board to 12 Directors
The board of directors of RSC Holdings last week announced it has elected Donald Roof as an independent director and member of its audit committee, effective immediately. The appointment of Roof expands the board to 12 members. ...
HERC Opens Renovated Facility in Springfield, Mo.
Hertz Equipment Rental Corp. will celebrate the grand re-opening of its Springfield, Mo., general rental facility Friday, Aug. 24. The event will take place at the store between 11 a.m. and 2 p.m. and will showcase the facility’s renovated 7,000-square-foot showroom and newly expanded product line, which includes small tools, construction equipment and contractors’ supplies....
Ritchie Bros. California Auctions to Feature Equipment Affected by New CARB Regulations
New regulations passed by the California Air Resources Board on July 26, are expected to impact most California-based equipment owners, including those participating in two Ritchie Bros. Auctioneers unreserved industrial auctions in California in the coming month. ...
Australia’s Boom Logistics Posts Higher Revenue, Profits
Australian crane rental company Boom Logistics posted an AU $36.6 million (U.S. $29.2 million) full-year after-tax profit for the previous financial year, an 11 percent year-over-year increase, while revenue rose 38 percent to AU $350 million (about U.S. $279 million). ...
Multi-National Cramo Grows Volume, Profits in First Half
Cramo’s consolidated sales and EBITA in the first half of 2007 increased in all market areas, totaling €223.7 million (about U.S. $300 million), up from €180.3 million for the same period last year, a 24-percent jump. Sales of continuing operations, not including the Dutch business operations that were divested in April, grew 26.7 percent, with organic growth accounting for 24.5 percent. Sales were boosted by favorable market conditions, positive price development, a higher rental utilization rate, and successful equipment investments in the company’s main market areas....
Ramirent First Half Volume Jumps 30 Percent
Vantaa, Finland-based multi-national rental company Ramirent increased net volume for the first six months of 2007 to €288.6 (about U.S. $389.2 million), a 30.1-percent increase compared to the first six months of last year when volume totaled €221.8 million....
H&E Q2 Revenue Jumps While Margins Drop
H&E Equipment Services last week posted a record 15.1 percent second-quarter revenue increase to $233.1 million, compared to $202.5 million in last year’s second quarter. EBITDA increased 2.5 percent to $57.6 million compared to $56.2 million for the year-ago period. ...
Tanfield Finalizes Snorkel Purchase; Designates it Primary N.A. Brand
Tanfield has finalized its $100 million acquisition of Snorkel International and plans to make the Snorkel brand its primary aerial work platform brand in North America. Snorkel last week announced that eight former UpRight models will be re-branded as Snorkel units, including electric scissorlifts, mast and articulated boom lifts targeted at the construction and industrial maintenance sectors, as well as its rough-terrain scissorlifts....
Finning Enjoys Record Q2 Revenues, Strong Earnings
Finning International last week reported CD $1.5 billion (about U.S. $1.41 billion) in revenue for the second quarter of 2007, a 25.7-percent increase over the second quarter of 2006. Earnings from continuing operations before interest and taxes were CD $123.1 million in the second quarter, a 39.6-percent jump from last year’s second quarter total of $88.2 million. Second-quarter net income from continuing operations was $75.3 million or $0.42 per diluted share, a 35.5-percent year-over-year leap....
Source Capital Completes $41.5 Million Recapitalization of Aerial Access
Source Capital last week completed a $41.5 million recapitalization of its portfolio company Aerial Access Equipment, an aerial rental company based in Baton Rouge, La. Plainfield Asset Management LLC of Greenwich, Conn., provided the financing. ...
Huber Brothers Acquire Elms Equipment Rental
Alan Huber, president of Elms Equipment Rental, Brawley, Calif., last week announced that he and his brother Mark Huber have purchased the company. As part of the transaction, they also consolidated ownership of a related entity Quintet Leasing, and purchased the assets of EEL Inc., a related company....
Godwin Pumps Opens Portland, Ore., Rental Branch
Bridgeport, N.J.-based Godwin Pumps, manufacturer and rental supplier of the Dri-Prime automatic self-priming pump, recently opened a new rental facility in the Portland, Ore.-based suburb of Hubbard....
Equipro Opens Boston-Area Branch
Equipro, a subsidiary of Wacker, recently opened a new franchise in Norfolk, Mass., a suburb of Boston. ...
Stafford Promotes Crane Sales Expert Jones
Stafford Equipment recently named Wally Jones senior vice president, crane sales. Jones, based out of Stafford’s Ashland, Va., location, joined the company in 2005 when Stafford acquired Atlantic Coast Crane....
Lewis Crane & Hoist Tabs GM
Lewis Equipment Co., based in Grand Prairie, Texas, last week named Dave Beck general manager of Lewis Crane & Hoist....
Penn-Jersey Takes Over Dealership Responsibility in New Jersey, East Penn.
Penn-Jersey Machinery, the authorized Volvo Construction Equipment dealer in New Jersey and eastern Pennsylvania, has reached an agreement to assume the sales and marketing of road machinery products formerly marketed by Binder Machinery Co. Binder is a Komatsu and Ingersoll Rand dealer based in South Plainfield, N.J....
Ahern Rentals Announces Earnings Call
Ahern Rentals last week announced it will hold a conference call at 10 a.m. Pacific time on Wednesday, Aug. 15, to discuss the company’s quarterly report on Form 10-Q for the fiscal quarter ended June 30, which the company expects to file with the Securities and Exchange Commission on Aug. 14. ...
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