Maxim Amends Dutch Auction Tender Offer
Maxim Crane Works Holdings last week said it has amended the terms of its traditional “Dutch auction” tender offer initiated June 4, by increasing the bottom and top of the price range in the offer by $3. As amended, Maxim will buy up to 2.5 million shares of its common stock at between $48.75 and $54 per share. It has extended the expiration date to July 20....
SmartEquip Moves to Larger Quarters
SmartEquip Inc. last week announced it has moved into larger headquarters in Norwalk, Conn., and expanded its staff. Its new headquarters will accommodate the company’s expanded client services, customer services, sales, marketing and engineering teams. Meanwhile, the company continues to grow the size of its engineering and implementation workforce across multiple locations, including its offices in California, Florida, Europe and the Philippines....
JLG Names Lull, Skytrak Dealers
JLG last week named new Lull and SkyTrak telehandler dealers. The McConnellsburg, Pa.-based manufacturer appointed Masonry Equipment & Supply, based in North Salt Lake City, Utah, dealer for Lull telehandlers throughout eastern Idaho, western Wyoming and all of Utah....
Oil States Expands Tool Rental Operations
Oil States International last week announced the acquisition of the assets of Wire Line Services, a Midland, Texas-based business that primarily provides well testing and flowback services through its network of locations in Texas and New Mexico for $44 million. ...
Nonresidential Spending Helps Offset Residential Spending Slump
Construction put in place increased 0.9 percent in May to a seasonally adjusted annual rate of $1.18 trillion, the Census Bureau announced recently. For the January-May period, spending fell 3.9 percent from the same period in 2006. Private nonresidential spending increased 2.7 percent in May and 18 percent year-to-date, and public spending rose 2.1 and 11 percent respectively, helping to offshoot private residential spending, which dropped 0.8 percent in May and 19 percent year-to-date....
UpRight Parent Tanfield to Acquire Snorkel
UpRight Inc. parent company The Tanfield Group Plc, announced Thursday it has reached an agreement to acquire Snorkel Holdings, using proceeds from a planned placement of £115 million (about U.S. $230 million). Tanfield has agreed to acquire Snorkel for U.S. $100 million plus $25 million in assumed debt....
Tool Rental Not Affected by Supply Sale, Home Depot Asserts
The Home Depot’s recently announced sale of its HD Supply division to three private equity firms will not impact its tool rental program, Jim Summers, director of tool rental, merchandising and operations, told RER....
RSC Rings New York Stock Exchange Opening Bell
RSC Equipment Rental CEO Erik Olsson rang the opening bell on the New York Stock Exchange last Tuesday. RSC said the ringing celebrated the company’s May 23 initial public offering in which it raised $458.3 million....
JLG Names Southeast Connecticut Lull Dealer
JLG Industries last week appointed All Reach Equipment LLC as a dealer for Lull telehandlers. The Hamden, Conn.-based company will provide sales and service coverage throughout southeastern Connecticut....
Maxim Crane Elects New Chairman
The board of directors of Maxim Crane Works Holdings recently elected Jack McGovern chairman of the board, replacing Bill Redmond who served as chairman since February 2005. McGovern has been a director since January 2005, and served as chairman of the audit committee....
IPAF Signs Six New Members
The International Powered Access Federation, the parent organization of Aerial Work Platform Training, last week announced six new members: Admar Supply Co., Rochester, NY; Bil-Jax, Inc. Archbold, Ohio; Fraco Products, St. Mathias, Quebec; Midwest Aerials & Equipment, St. Louis; NES Rentals, Chicago; and Northeast Work Platform Training, Boston....
HERC To Open Renovated Facility In Provo, Utah
Park Ridge, N.J.- based Hertz Equipment Rental Corp. last week announced it will celebrate the grand re-opening of its Provo, Utah, general rental facility on Friday, July 13. The event will take place at the store between 11 a.m. and 2 p.m. and will showcase the facility’s renovated 1,000-square-foot showroom, 3-acre lot and newly expanded product line, which includes small tools, construction equipment and contractors’ supplies....
SafeWorks Hires New Customer Service Manager
Seattle-based SafeWorks LLC recently hired Stan Kalista as its new customer service manager. In this role, Kalista will be responsible for leading and developing customer service teams to assist the Spider branches and Power Climber dealers. He will also manage product support functions while coordinating with sales, marketing, field operations, supply chain and engineering representatives. ...
Terex Dealership Equipco Opens in New Orleans
Several hundred people attended the grand opening Friday of Terex’ newest dealership, Equipco in New Orleans. Customers, family members and City Councilman Oliver Thomas and members of the media attended the event, along with Terex Construction president Bob Isaman....
Lavendon Enjoys Strong First Five Months
Lavendon Group, U.K.’s leading aerial rental company, last week said its volume rose 48 percent in the first five months of 2007 over the same period last year, based on organic growth and recent acquisitions. Lavendon’s interim results for the first six months of the year through June 30 will reveal a pre-tax profit higher than analysts’ expectations, company officials said....
United Rentals Plans Grand Re-opening of Manhattan Branch
United Rentals will celebrate the relocation of its flagship branch in New York City with a grand re-opening event on Thursday, June 28, 2007. The equipment rental branch also houses a contractor supplies showroom, maintenance facility and full-service yard. Located on Manhattan's West Side, the 45,000-square-foot property is nearly twice the size of the former rental location....
Professional Aerials Hires New Vice President
Professional Aerials, McConnellsburg, Pa., last week named Jim Souders as vice president of sales, rentals and service. In this position he will head up the global fleet sales program and the expanding of ProAer’s rental and parts programs. Souders brings 21 years of work experience with JLG and seven years of dealer management and sales experience to the job. ...
Bronto Skylift Names NESCO New Indiana Dealer
Bronto Skylift last week appointed NESCO Sales and Rental of Bluffton, Ind., a dealer for Bronto aerial work platforms. NESCO will provide sales and service coverage in the Midwest....
MEC Aerials Names Titan Equipment New Dealer For Western and Central Michigan
MEC Aerials has appointed Titan Equipment as a full-service authorized dealer for MEC scissorlifts and telescopic handlers in Western and Central Michigan., according to an announcement by Jim Tolle, MEC president....
Speedy, U.K.’s Top Tool Rental Company, Buys Top Competitor Hewden Tools
In a single stunning day last week, two major deals involving three of the United Kindom’s biggest rental companies redesigned the equipment rental roadmap in one of the world’s most evolved rental markets....
British Ex-MP Acquires HSS Rental Chain
Archie Norman, a former Member of Parliament and chief executive who oversaw the turnaround of supermarket chain Asda, last week joined forces with U.S.-based Och-Ziff Capital Management Group to acquire British tool rental chain HSS Hire for £310 million (about U.S. $612 million). HSS Hire is the third-largest tool rental company in the United Kingdom. ...
HERC Opens Two New, One Renovated Facilities
Park Ridge, N.J.-based Hertz Equipment Rental Corp. last week celebrated the grand opening of its new Saint John, New Brunswick, Canada, general rental facility. The event showcased the new 5,000-square-foot facility and its product line, which includes small tools, equipment and contractors’ supplies....
Volvo Rents Opens New Rental Center in Florida
Volvo Construction Equipment Rents last week announced the opening of a new Volvo Rents equipment rental franchise in Tampa, Fla., by CASCO Rentals LLC. It is the third Volvo Rents franchise opened by CASCO in Florida....
Godwin Pumps Appoints New Director of Marketing
Godwin Pumps, a U.S. manufacturer of portable rental pumps with 24 branch offices and a network of more than 100 distributors worldwide, recently named Howard Slaff as director of marketing....
2006 Auction Data for Articulated Rear Dump Trucks
The following figures examine articulated rear dump trucks at auction in North America for the period starting January 1, 2006. Figure 1 identifies the 26- to 29-metric ton size class as the most popular. Figure 2 looks at the value per metric ton for all size classes combined. ...
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