Toromont Announces Record 1Q Earnings of $14.3 Million
Toronto-based Toromont Industries Ltd., the parent company of Battlefield Equipment Rentals, last week reported record financial results for the first quarter of 2007. Net earnings were CA $14.3 million (about U.S. $12.8 million) or $0.22 per share (U.S. $0.19), up 22 percent from CA $11.7 million (U.S. $10.5 million) or $0.18 per share (U.S. $0.16) reported in the first quarter of 2006. ...
Rental Service Referenced 54 Million Times Annually in Yellow Pages
The Yellow Pages Association last week announced that the “Rental Service” Yellow Pages heading ranks 42nd out of more than 4,000 headings and generates more than 54 million references annually. ...
Flashco Signs 5-year NASCAR Supply Agreement
Bakersfield, Calif-based Flashco Inc. recently signed a five-year commitment to become the official contractor supply and equipment rental company of Kern County’s new NASCAR raceway. ...
Lavendon Acquires Rise Hire
Lavendon Group, a high-reach equipment rental specialist based in Lutterworth, Leicestershire, England, last week announced it bought Cambridgeshire-based Rise Hire for £1.1m cash (about U.S. $2.2 million). The acquisition will enter Lavendon into the van-mounted powered access market. ...
Terex Announces First-quarter Income of $113.8 Million
Westport, Conn.-based Terex Corp. last week announced income from continuing operations for the first quarter of 2007 of $113.8 million, or $1.09 per share, compared to income from continuing operations of $76.9 million, or $0.75 per share, for the first quarter of 2006. ...
Atlas Copco Reports Record Earnings and Accelerated Growth
Stockholm, Sweden-based Atlas Copco last week announced record profitability and continued strong demand from the mining, construction, manufacturing and process industries, in all geographical areas. First-quarter 2007 revenues were SEK 13.39 billion (about U.S. $1.99 billion), a 12-percent increase from SEK 11.95 billion (U.S. $1.78 billion) in the same period in 2006. Operating profit was SEK 2.54 billion (U.S. $377.8 million), a 21-percent increase from SEK 2.10 billion (U.S. $311.7 million) in the year-ago period....
Gehl Co. Reports Record 1Q07 Net Income and EPS; Raises Full-year Outlook
Gehl Co. last week reported record first-quarter income from continuing operations of $6.5 million, or $0.52 per diluted share, for the quarter ended March 31, compared with income from continuing operations of $6.4 million, or $0.51 per diluted share, for the first quarter of 2006. ...
Ingersoll Rand Announces 2007 1Q Earnings of $0.70 Per Share
Hamilton, Bermuda-based Ingersoll-Rand Co., a leading diversified industrial firm, last week announced first-quarter 2007 net earnings of $217.5 million, or diluted earnings per share of $0.70, compared with $253.2 million, or EPS of $0.76 in the same period a year ago. First-quarter net earnings included $216.5 million, or EPS of $0.70 from continuing operations, as well as $1.0 million of income equal to EPS of $0.0, from discontinued operations related to the Road Development business. ...
Caterpillar Posts 7% 1Q07 Sales and Revenue Increase
Peoria, Ill.-based Caterpillar Inc. last week reported record first-quarter profit per share of $1.23, a $0.03 per share improvement from the first quarter of 2006. These results came despite severe weakness in two important North American industries. Sales and revenues of $10.01 billion were also a first-quarter record and were up 7 percent, or $624 million, from $9.39 billion in last year's first quarter....
United Rentals’ Growth Plans to Continue, Hicks Says
United Rentals intends to invest more than $900 million in capital in 2007, CEO Wayland Hicks told RER in a recent interview. Although the interview was granted before United Rentals’ recent announcement that the company is exploring strategic alternatives and that Hicks will retire in June, company officials this week told RER that the company’s growth plans have not changed and that United Rentals is going forward with “business as usual.” ...
Ahern to Build 20-Story High Rise
Don Ahern, CEO of Las Vegas-based Ahern Rentals, recently received unanimous city council approval to build a high-rise office building adjacent to a 9.5-acre Ahern Rentals rental center on the northwest edge of downtown Las Vegas....
Toromont Acquires Canada’s Sunrise Rentals
Toromont Industries, parent company of Stoney Creek, Ontario-based Battlefield Equipment Rentals, last month agreed to purchase the assets of Sunrise Rentals, Timmins, Ontario. Battlefield, which operates Cat Rental Stores in Ontario, Manitoba and Newfoundland, assumed control of the company March 7. ...
Equipro Opens Las Vegas Branch
Equipro, a wholly owned subsidiary of Wacker Corp. dedicated to equipment repair, last week announced its newest location in Las Vegas. Equipro focuses on providing owners of light construction equipment with high-quality repair service, fast turnaround times and professional on-site support through a nationwide service alliance of OEM partners, which include ICS, Mi-T-M, MK Diamond, Sullair, Lincoln Electric and Wacker....
Ritchie Bros. Opens New Facilities in the U.S. and Canada
Vancouver, British Columbia-based Ritchie Bros. Auctioneers recently announced the results of two large unreserved auctions. The largest was a two-day grand opening auction at the company's new Columbus, Ohio, auction facility, with buyers purchasing more than U.S. $29 million in gross auction sales. The other large auction, held at the newly built 20-acre auction facility in Saskatoon, Saskatchewan, is believed to be Canada's largest-ever unreserved agricultural auction, with more than CA $14 million (more than U.S. $12 million) worth of agricultural equipment and real estate sold....
Grand Re-opening of HERC Modesto Draws More Than 600
Hertz Equipment Rental Corp. celebrated the grand re-opening of its Modesto, Calif., general rental facility on Friday, April 13. The event, which drew more than 600 people, showcased the facility’s showroom and newly expanded product line, which includes small tools, equipment and contractors’ supplies....
B.C. Rental Company Burns
Cowichan Rentals, a rental center in Duncan, B.C., Canada, was destroyed by a fire last week that also devastated a marine store and an automotive business, Canada.com reported....
Alberta’s CERF More Than Doubles ’06 Revenue
The Canadian Equipment Rental Fund, doing business as 4-Way Rentals, more than doubled revenue in 2006, the company reported last week. Total revenue jumped from CD $4.7 million (more than U.S. $4.1 million) to $10.2 million (about U.S. $9.1 million). The company increased net income by 289 percent from CD $588,000 to CD $2.3 million. ...
Spider Provides Access to the New World of Coca-Cola®
Excel Electrical Technologies and Uni-Sky Corp. hired Tukwila, Wash.-based Spider to provide necessary access for the large, glass Coke® bottle stationed as a focal point to the anticipated New World of Coca-Cola® museum being built in Atlanta....
Sunbelt Rentals Names National Director of Safety, Regional VPs
Sunbelt Rentals last week announced the promotion of Jeff Stachowiak to the newly created position of national director of safety. ...
Spider Hires Great Lakes Region Area Director
Spider, a division of SafeWorks llc recently hired Randy Aylor as area director for the Great Lakes region....
Wacker Plans Springtime IPO in Germany
Wacker Construction Equipment AG is planning an initial public offering of its stock on the Frankfurt Stock Exchange this spring. Wacker said the IPO proceeds will be channeled predominantly into expanding its rental business in Central Europe and increasing production capacity in the compact equipment sector....
London Calling: A-Plant Prepares for ’12 Olympics
British rental company A-Plant has restructured its branch network in and around London in preparation for construction work on 2012 Olympics venues....
Vp’s Hire Station Acquires Cool Customers
United Kingdom rental company Vp PLC said its tool and safety equipment rental business Hire Station has acquired Cool Customers Ltd and its holding company for about 1 million pounds (about U.S. $2 million). ...
New Zealand’s Hirepool Adds Senior Managers
Hirepool Ltd., New Zealand’s largest rental company, recently named John Gibson and Eli McCowatt business relationship managers. Gibson is a 26-year veteran of the hire equipment industry, having worked with McEwen’s Hire, Hirequip and Projex....
United Rentals to Explore Strategic Alternatives; Hicks to Retire in June
United Rentals last week announced that its board of directors has authorized a process to explore a broad range of strategic alternatives to maximize shareholder value, including a possible sale of the company. United has retained UBS Investment Bank and Credit Suisse to act as financial advisors in the process....
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