Trends Analysis
Private Equity Group Acquires Essex Crane Rental
Hyde Park Acquisition Corp. recently announced that it has entered into a definitive agreement to acquire privately held Essex Crane Rental Corp., which owns the largest specialized fleet of lattice-boom crawler cranes and attachments in North America....
Headline News
From The Editor
It has been an eventful week in the rental industry. Private equity firm Platinum Equity Capital has reached an agreement to acquire Maxim Crane Rental, the second-largest crane rental company to be acquired by a private equity firm in the past month....
Burris Revenues Boost H&E’s First Quarter Increase
H&E Equipment Services increased 17.2 percent to $245.8 million in first-quarter revenue, compared with $209.7 million in the first quarter last year. The company’s recent acquisition of J.W. Burress in the mid-Atlantic region contributed $27.6 million of the $36.1 increase. EBITDA jumped 7.8 percent to $56.4 million compared with $52.3 million in the same period last year, with Mid-Atlantic contributing $1.4 million....
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International News
Ramirent’s Stock Drops on Lower-than-Expected Q1
The stock price of Helsinki, Finland-based Ramirent, which operates in 13 countries including the Scandinavian and Baltic countries, Russia and Urkaine, last week dropped 24 percent to €8.36 (about U.S. $12.93) after the company said meeting its earnings forecast would be a challenge. The company said that construction has slowed in Estonia, Latvia and Hungary....
AEM’s ConExpo Russia Set for September
In September, the Association of Equipment Manufacturers will launch its first ConExpo Russia trade show. Exhibitors include ALTEC, Amkodor, ASTEC, Caterpillar, Donetskii Excavator, JCB, JLG, Komatsu, Kominvest AKMT, Link-Belt Cranes, Manitou, Manitowoc, New Holland, Kobelco, Pogruzchik, Terex, Trimble, Vermeer and Volvo....
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Wall Street Beat
Burris Revenues Boost H&E’s First Quarter Increase
H&E Equipment Services increased 17.2 percent to $245.8 million in first-quarter revenue, compared with $209.7 million in the first quarter last year. The company’s recent acquisition of J.W. Burress in the mid-Atlantic region contributed $27.6 million of the $36.1 increase. EBITDA jumped 7.8 percent to $56.4 million compared with $52.3 million in the same period last year, with Mid-Atlantic contributing $1.4 million....
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Supply Side
Silber to Retire From Doosan Infracore
Doosan Infracore has confirmed the retirement of Larry Silber, president of Doosan Infracore Portable Power. Silber’s retirement is effective June 1....
Terex Names Laura Kiernan Director of Investor Relations
Terex Corp. last week appointed Laura Kiernan director, investor relations. Kiernan will have responsibility for all Terex Corp. investor communications and succeeds Tom Gelston who has been promoted to vice president of business development....
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RER & The Environment
New York-Based Rental Company Invests in Biofuel Burning Generators
In a move to compliment the Regional Greenhouse Gas Initiative (RGGI) New York-based On Site Energy Co. has invested heavily in Tier 3-certified green equipment and is making most of it’s current rental fleet more emission friendly with biodiesel fuels. ...
Caterpillar Announces New Electric-Drive Track-Type Tractor
Peoria, Ill.-based Caterpillar Inc. last week announced it is unveiling the first innovative AC electric-drive track-type tractor in the industry. The revolutionary electric-drive system developed for track-type tractors gives the D7E balance of power, efficiency, control and maneuverability. The machine will be showcased at ConExpo 2008 March 11-15 in Las Vegas....
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Bricks & Clicks
Bil-Jax Adds eStore to its Website
Bil-Jax Inc., a leading scaffolding manufacturer to the rental industry, recently added an eStore to its website, www.biljax.com. The new e-store offers dealer merchandise such as banners, point-of-purchase items, apparel and sales literature....
Sunbelt Rentals Launches New Website
Sunbelt Rentals last week launched a state-of-the-art website, www.sunbeltrentals.com, designed to set a new standard in the rental industry....
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