Construction Equipment Theft Recoveries Rise 18 Percent
Westwood, Mass.-based LoJack Corp. last week announced the results of its sixth annual Construction Equipment Theft Study in a report that provides information on the growing problem of equipment theft, which, the company says, costs construction companies up to $1 billion per year in lost assets. ...
Rental Industry Veteran Dan Suchan Joins MMD Equipment
Swedesboro, N.J.-based MMD Equipment announced last week that Dan Suchan has been appointed to vice president of national accounts. Suchan will be responsible for developing relationships with key national rental companies and marketing MMD’s line of construction-related products to those customers. ...
RSC Announces Winner Of Ford Pickup Truck
Frank Zwolinski, president of Wirtz, Va.-based Oakenshield Development Co., a full-service building and contracting firm, is the winner of RSC Equipment Rental’s “Tell Us How You Feel — To Get Behind The Wheel” contest for a new Ford pickup truck....
Crane Giant Tat Hong Launches Chinese Joint Rental Venture
Tat Hong Holdings, an international crane rental specialist based in Singapore and listed on the Singapore Stock Exchange, last week announced a joint venture in China. Tat Hong is allying with Zhong-Jian Zhenghe Construction Machinery to launch a tower crane rental business in China....
Malaysian Equipment Company to Start Chinese Rental Branch
UMW Corp., a Malaysian equipment company, last week said it received a certificate of approval from the Shanghai Foreign Investment Committee to incorporate a rental and fleet management company known as Vision Fleet Equipment Leasing Shanghai....
Facelift Access Opens Birmingham Branch
United Kingdom access rental company Facelift Access Hire recently opened a branch in Birmingham, England. Facelift managing director Gordon Leicester said the company had looked for a presence in the Midlands area of England for some time....
Home Depot CEO Nardelli Resigns
Bob Nardelli last week resigned abruptly as chairman and CEO of The Home Depot after a six-year tenure during which, despite large profits, Home Depot stock dropped 12 percent....
HERC Opens Seattle Branch; Analysts Urge “Buy”
Hertz Equipment Rental Corp. last week opened a new aerial services location in Seattle. It’s the Park Ridge, N.J.-based company’s first aerial services facility in the state....
Manitowoc Crane Group to Purchase Carrydeck Product Line
Manitowoc Crane Group last week agreed to purchase Marine Travelift’s Shuttlelift Carrydeck line of industrial cranes. Crane Group and Marine Travelift executives said the move is beneficial for both companies....
Cramo Acquires Norwegian Rental Company
Cramo AS, the Norwegian wholly-owned subsidiary of Helsinki, Finland-based Cramo Plc, last week acquired Norwegian rental company Hamar Liftutleie AS, strengthening its position in the Norwegian rental market, particularly in the area near Ostlandet. Hamar Liftutleie expects revenues of close to U.S. $20 million in 2006....
Indian Equipment Market in Strong Growth Mode, Study Says
India’s infrastructure equipment industry is expected to reach $4.2 billion by 2010, compared to about $1.95 billion in 2004, according to a joint study by the Confederation of Indian Industry and KPMG....
Private Equity Group Agrees to Acquire United Rentals’ Traffic Control Business
United Rentals this week announced it has signed a definitive agreement to sell its traffic control business to HTS Acquisition Inc., an entity newly formed by affiliates of private equity investors Wynnchurch Capital Partners and Oak Hill Special Opportunities Fund, L.P...
Finning Forecasts Continued Growth
Finning International officials last week said the company will conclude a record year in 2006 and expects even better performance in 2007, led by strong economic conditions in Western Canada as well as South American markets....
Cramo Acquires Top Lithuanian Aerial Rental Company
Cramo PLC, formerly known as Rakentajain Konevuokraamo Oyj, last week acquired UAB Aukstumines Sistemos, the leading Lithuanian access platform rental company. AS specializes in renting aerial work platforms to construction, installation companies and general industry, from three branches in Lithuania....
Hirequip Shareholders Approve Sale
Hirequip Shareholders met last week to approve the sale of New Zealand’s largest rental company to Pacific Equipment Solutions, an associate of Japanese private equity fund Nikko Principal Investments. Nikko shareholders recently met to approve the transaction....
Jenne Britell Appointed to United Rentals Board
United Rentals last week announced that Jenne Britell joined the company’s board of directors. Britell is chairman and CEO of Structured Ventures, advisors to private equity and venture capital firms. She has served in this capacity since 2001. ...
Aggreko Names Pool to Western U.S. Post
Aggreko LLC, the world’s leading supplier of rental power, temperature control and oil-free compressed air, last week named Bruce Pool west business unit vice president, reporting directly to Aggreko president George Walker. Pool will be responsible for the western half of the North American business and Aggreko Cooling Tower Services....
Genie Launches New Fleet Services Program
Genie Industries last week announced the launch of its new Fleet Services program, which expands on the level of service provided by the former Genie Access Services program....
Former Rental Center Owner and TRA President Joins On-Board Communications
Jim Reagan, former president of the Texas Rental Association and former owner of Taylor Rental in Mesquite, Texas, has joined On-Board Communications as national rental account manager to grow the company’s newly launched products and services for managing, protecting and tracking rental equipment....
U.K.’s Lavendon Posts 23 Percent Volume Jump
British aerial rental company Lavendon Group PLC last week said its full-year performance is ahead of the company’s expectations and it expects even further progress in 2007. ...
Deutz Launches Joint Venture In China
Deutz Ag and FAW Jiefang Automotive Co., which is based in Changchun, China, a wholly owned subsidiary of China First Automobile Works Group Corp., last week signed a contract to set up a joint venture to manufacture and sell diesel engines. ...
Blastrac Launches South Pacific Division
Blastrac Global recently marked a new, expanded presence in Australia, New Zealand and surrounding island nations with the formation of Blastrac South Pacific. ...
Ritchie Bros. Announces Record-breaking 2006 Gross Auction Sales
Vancouver, British Columbia-based Ritchie Bros. Auctioneers last week announced the conclusion of its 2006 auction calendar with a preliminary estimate of $2.7 billion in gross auction sales for the year, a 30-percent increase compared to last year's result. ...
Sunbelt Rentals Posts Strong Earnings for the First Half of the Fiscal Year
Sunbelt Rentals recently reported strong results in the six-month period ended Oct. 31, 2006, with revenues increasing by 46.8 percent to $597 million....
JLG Ships First Cat-Branded Telehandlers to Cashman
The first telehandlers manufactured by JLG Industries and branded with the Caterpillar name were recently delivered to Las Vegas-based dealership Cashman Equipment. JLG and Caterpillar reached an agreement in October 2005 for the McConnellsburg, Pa.-based aerial equipment manufacturer to produce telehandlers for Caterpillar to bring to market under its own brand....
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