Caterpillar Forms Alliance with Exodus Machines to Supply Material Handlers
Caterpillar recently formed an alliance agreement with Exodus Machines for the design and supply of material handlers to be sold and supported exclusively by Cat dealers. The Exodus machines will be available immediately in North America and will complement Caterpillar’s current line of wheel and track material handlers greater than 25 metric tons. The products will carry the Exodus brand name but will transition to the Cat brand in 2013....
GE Capital Survey Shows Dealer Optimism for 2012
Construction equipment dealers are predicting improving business conditions in 2012, with about 40 percent of respondents expecting sales to increase 3 to 5 percent this year, according to a survey conducted by GE Capital Dealer Finance. About 25 percent of respondents expect sales to jump 6 to 8 percent, while 77 percent said the best time to increase inventory is within the first half of 2012....
CNH Posts 25 Percent Net Sales Increase in 2011
CNH Global posted a net sales increase of 25 percent for the year 2011 to $18.1 billion, compared with 14.5 billion in 2010. For the fourth quarter, sales jumped 27 percent from $3.76 billion in Q410 to $4.77 billion in the recently concluded quarter....
Hertz Expects 14-Percent Increase in its U.S. Equipment Rental Operations in 2012
Hertz Global Holdings predicted 9 to 10 percent worldwide revenue growth for its equipment rental basis during a presentation at the Deutsche Bank Global Auto Industry Conference. The company clarified that the 9- to 10-percent growth will be driven by an estimated 14-percent increase in its U.S. operations....
Manitou, Yanmar Enter Marketing, Manufacturing Compact Equipment Alliance
Manitou Group, a world leader in material handling and compact equipment, and Yanmar Co., a global manufacturer of diesel engines and a broad range of compact equipment, have formed a strategic alliance to launch a line of compact excavators manufactured by Yanmar under the Gehl and Mustang brands for the North American sales region. The two companies have had a successful long-standing partnership including the use of Yanmar engines in Gehl- and Mustang-branded compacted equipment manufactured by Manitou in the United States....
JLG External Sales Jump 73.8 Percent in Fiscal First Quarter
JLG’s access equipment sales to external customers jumped 73.8 percent to $505.1 million for the first quarter of fiscal 2012 compared to the prior year’s fiscal first quarter. The company posted double-digit sales increases in all regions of the world and across all product lines. JLG’s results were driven by replacement of aged equipment in North America and parts of Europe as well as economic growth and increased product adoption in emerging markets....
Volvo Rents Adds Acquisitions in California, Puerto Rico
SHIPPENSBURG, Pa. Volvo Rents has acquired SoCal Rental-Equip Rent, a single-location construction equipment rental company in Glendora, Calif., east...
Former Airline Executive Stewart Joins Acme Lift Co. as CFO
MESA, Ariz. Acme Lift Co., the world's largest strictly wholesale rental company, last week appointed Scott Stewart, former financial executive with US...
IPAF Launches AWP Incident Database; Reports Record Training in 2011
CUMBRIA, U.K. The International Powered Access Federation has begun a systematic project to collect worldwide data on fatal accidents involving aerial...
HERC Acquires Northern California's DW Pumps
PARK RIDGE, N.J. Hertz Equipment Rental Corp. has acquired DW Pumps, a pump rental specialist based in San Leandro, Calif. Founded in 2003, DW Pumps also...
Construction Equipment Manufacturers Expect Double-Digit Increases in 2011
MILWAUKEE Construction equipment manufacturers anticipate overall business in 2011 to finish with double-digit increases compared with 2010 in the United...
National Trench Safety Expands to Sacramento
HOUSTON National Trench Safety, a Houston-based company specializing in the rental and sales of trench and traffic safety equipment, as well as OSHA-compliant...
Atlas Copco Quality Air Division Appoints Wasel President
STOCKHOLM, Sweden Horst Wasel, currently president of the Specialty Rental division within Atlas Copco Compressor Technique, was appointed president of...
Canadian Concrete Contractor Wins Wacker Neuson’s Trowel Challenge Competition at World of Concrete
More than 150 trowel operators participated in this year’s Wacker Neuson trowel challenge competition at the World of Concrete. The winning operator was Darin Wiebe of Extreme Concrete, Linden, Alberta, Canada. His combined winning time was 67.429 seconds....
Case Names Triple Threat Rodeo Champion at WOC
Case Construction Equipment last week crowned Octavio Miranda, of Ancaster, Ontario, Canada, the champion of its Triple Threat Rodeo series, following a day-long competition among 59 pre-qualified equipment operators from the United States and Canada at the 2012 World of Concrete show in Las Vegas. The event, which was also a fundraiser for Habitat for Humanity, included prizes with a total value of nearly $140,000....
Caterpillar Grows 2011 Revenues 41 Percent, Improves Profit 83 Percent From 2010
Caterpillar Inc. last week reported record-breaking 2011 sales and revenues of $60.14 billion, an increase of 41 percent from $42.59 billion in 2010. Profit in 2011 was $4.93 billion, an 83-percent increase from $2.70 billion in 2010. Profit per share of $7.40 was up 78 percent from $4.15 in 2010. Excluding the impact of the acquisition of Bucyrus International, 2011 profit was $7.79 per share, up 88 percent from a year ago....
Hertz Seeking More Acquisitions, Frissora Says
Hertz Global Holdings might buy as many as eight equipment rental companies this year to help minimize the company’s reliance on its car-rental business, CEO Mark Frissora said this week. Bloomberg News is reporting that Hertz is looking at equipment rental companies in the oil and gas exploration markets, pump and power generation and entertainment industries....
United-RSC Acquisition Passes U.S. Antitrust Waiting Period
United Rentals said this week that the U.S. antitrust waiting period related to its acquisition of RSC Holdings has expired without objections. The expiration of the waiting period satisfies one of the requirements for the deal to close....
Solar Light Tower Rental Specialist Launched in Pennsylvania
Newly formed Sunbeam Rentals has been established to provide full-service rentals to industries interested in the Progress Solar series of light towers for portable outdoor lighting applications. The Progress Solar light tower resembles a traditional portable diesel light tower but is powered by solar energy instead of diesel fuel....
Icahn’s Proposal to Sell JLG Not Supported at Oshkosh
Oshkosh Corp. said the company believes that at least 12 of the 13 Oshkosh director nominees have been elected to the company’s board of directors. However, the Wall Street Journal reports, investor Carl Icahn opposed the retention of the company’s management team, stating that its acquisition of aerial work platform manufacturer has hurt the company’s stock price....
Altec Chippers Enter Consumer Rental Market via Home Depot
Altec Industries last week announced a strategic partnership with Compact Power Equipment Centers to offer Altec chippers in Home Depot Tool Rental stores across the United States and Canada. Since 2008, CPEC has provided customers with towable rental equipment for a variety of projects, which now includes Altec’s DC610 chipper....
United Rentals Tops Wall Street Expectations with Strong Fourth-Quarter and Full-Year Increases
United Rentals topped Wall Street expectations with $746 million in fourth-quarter revenue, a 24.5-percent year-over-year increase compared with $597 million for the fourth quarter of 2010. Rental revenue jumped 18.5 percent to $589 million for the quarter, compared with $497 million a year ago....
National Trench Safety Expands to Las Vegas
National Trench Safety, a Houston-based company specializing in rental and sales of trench and traffic safety equipment, as well as OSHA-compliant training classes, has opened a new branch operation in Las Vegas....
Hertz Acquires Cinelease, Grip and Lighting Rental Company
Hertz Entertainment Services, a division of Hertz Global Holdings, has acquired Cinelease, a U.S. market leader in lighting and grip rentals to the television industry. Lighting and grip rental revenues generated by the U.S. television and motion picture industry are estimated at $600 million annually. The company estimates that Cinelease will deliver about $50 million of new revenues during 2012 as the company is integrated into HES....
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