Venetor Group Expands to Sudbury
Venetor Group, a large independently owned crane and equipment rental business in Ontario, last week announced a new 13,000-square-foot facility location in Sudbury, Ontario....
Neff Rental Revenue Drops 3.3 Percent in ’07
Miami-based Neff Rentals dropped 3.3 percent in rental revenue in 2007, posting $266.4, compared with $275.4 in 2006. Total revenue declined 0.1 percent, from $330.2 million in 2006 to $329.9 million in 2007. With a 15.3-percent increase in total cost of revenues, gross profit for the year decreased $25.8 million, or 15.8 percent, to $137.9 million in 2007, compared with $263.7 million in 2006....
Caterpillar Increases Stake in Joint Venture With Mitsubishi
Caterpillar has increased its stake in Shin Caterpillar Mitsubishi, its joint venture with Mitsubishi Heavy Industries to 67 percent, according to a definitive agreement announced last week. Caterpillar will acquire the shares for about U.S. $500 million....
Equipro Opens South Louisiana Franchise
Franchise service company Equipro, a wholly owned subsidiary of Wacker Corp., recently opened a franchise in Kenner, La., to service the New Orleans and Baton Rouge, La., markets....
Ashtead Considers Sale of Oil and Technology Division
Ashtead plc, parent company of Sunbelt Rentals, has put its oil and technology business up for sale, according to U.K. Internet publication Times OnLine. The move followed a drop in Ashtead’s stock price to a three-and-a-half year low, with investors fearing its exposure to the U.S. construction market. About 80 percent of Ashtead’s profits come from its Sunbelt Rentals division....
Volvo CE to Raise Prices to Cover Steel Costs
Record global demand for commodities has led to sharp increases in the cost base of heavy equipment manufacturers. Consequently, Volvo Construction Equipment last week announced it will raise the price of its machines and components by 5 percent globally....
Construction Starts Drop in January and February
New construction starts in February advanced 2 percent from January, according to McGraw-Hill Construction, although total construction for the first two months of the year dropped compared with 2007....
AEM Announces Winner of First Construction Equipment Hall of Fame Scholarship
J.R. Poole, a high school senior from the Rowan-Salisbury, N.C. school system, has earned the inaugural scholarship awarded by the Association of Equipment Manufacturers in the name of the Construction Equipment Hall of Fame....
Sunbelt Opens Two Illinois Branches
Sunbelt Rentals is continuing to grow its Midwest presence with two new branches: Champaign and Aurora, Ill....
HERC To Open New Facility In San Jose
Hertz Equipment Rental Corp. last week announced it will celebrate the grand opening of its San Jose, Calif., 10,500-sqaure-foot general rental facility on Friday, April 4. The event will take place at the store between 11 a.m. and 2 p.m. and will showcase the facility’s showroom and newly expanded product line, which includes small tools, construction equipment and contractors’ supplies....
United Rentals Names Mettel Vice President of Strategy and Planning
United Rentals last week named Kenneth Mettel vice president of strategy and planning, effective immediately. Mettel has served in senior management roles since joining United Rentals in 2001 and helped guide the company’s rental rate and fleet management initiatives....
United Rentals to Settle Class-Action Lawsuits
United Rentals agreed to settle three class-action lawsuits for $27.5 million. The lawsuits were filed following an accounting probe by the Securities and Exchange Commission announced in 2004. The investigation is still ongoing, and in August, United Rentals said it planned to enter settlement talks with the SEC. The lawsuits were filed by investors who bought United Rentals securities from Feb. 28, 2001, to Aug. 30, 2004, according to the company....
Harsco Acquires Romanian Access Company
Worldwide industrial services firm Harsco Corp. recently announced it has acquired Romania-based Baviera S.R.L., an exclusive distributor of Harsco’s Hennebeck division formwork and scaffolding products in Romania that will give Harsco a direct operational presence in one of the fastest-growing construction markets in Eastern Europe....
Volvo Rents Taps Frank Lopez to Lead Hispanic Outreach
Volvo Rents last week announced that Frank Lopez, former president and CEO of the U.S. Hispanic Chamber of Commerce Foundation (USHCC), has been retained by Volvo Rents to oversee the company’s Hispanic franchise business development strategy in the U.S. ...
Trico Lift Names Three Vice Presidents
Trico Lift last week named three new vice presidents: Pat Schmetzer, vice president of operations, Steve Phillips, vice president of safety and Andrew Volponi, vice president of logistics....
Finning to Use Lawson Software Systems
Finning, the world’s largest Caterpillar dealer, has selected Lawson Software to enhance its customer service capability. Finning will use Lawson applications for equipment service management and rental business to improve customer service and support growth. It will also use Lawson’s S3 system to help optimize its human resources management....
All Erection Acquires Office Building
All Erection & Crane Rental Corp. recently purchased Acorn Plaza, an office building, in Indepedence, Ohio. The property is located 10 minutes from downtown Cleveland, and about 12 minutes from Cleveland Hopkins Airport....
ConExpo Attendance and Upbeat Outlook Surpasses Expectations
Attendance at ConExpo-ConAgg in Las Vegas last week was just short of 140,000 through Wednesday, show officials said, marking at least a 12-percent increase compared with total ConExpo attendance of about 124,000 in 2005....
Cat Rental Store Launches Pilot With Home Depot
Caterpillar’s rental division has begun a pilot program to run Cat Rental Stores in Home Depot stores, Caterpillar officials confirmed at ConExpo last week. Although Caterpillar officials offered few details on the program, they confirmed a pilot location was recently begun in Texas and said more test locations may be added later this year....
H&E Equipment Services’ 4Q07 Revenues Jump 34 Percent on Crane Demand
H&E Equipment Services recently announced operating results for the full-year 2007 and fourth quarter ended Dec. 31, reflecting a full three months of operations for the J.W. Burress acquisition, which was consummated on Sept. 1, 2007....
HERC Opens La Feria, Texas, Branch
Hertz Equipment Rental Corp. celebrated the grand opening of its La Feria, Texas general rental facility on Feb. 29. The event, which drew more than 400 people, showcased the facility’s showroom and newly expanded product line, which includes small tools, equipment and contractors’ supplies....
Lojack Releases 2007 Annual Construction Equipment Theft Study
Westwood, Mass.-based LoJack Corp. last week announced the results of its seventh annual Construction Equipment Theft Study, which analyzed LoJack stolen vehicle recovery reports for the calendar year 2007. According to the study, construction theft, which, according to the National Insurance Crime Bureau, results in up to $1 billion of lost assets annually, continued at a steady clip with professional theft rings fueling the problem and skid-steer loaders being the number one theft target....
Ashtead/Sunbelt Improves Q3 Profit
United Kingdom-based international rental giant Ashtead Group, which also owns Sunbelt Rentals, met fiscal third-quarter profit forecasts with profit before tax, goodwill and one-off items rose 82 percent to £20.8 million (about U.S. $41.3 million) for the three-month period ended Jan. 31....
HERC Acquires Spanish Power-Generation Player Quilovat
Hertz Equipment Rental last week acquired Quilovat, one of the leading power-generation rental companies in Spain. Based near Barcelona, Quilovat has two branches and will give a strong boost to HERC’s Energy Division in Spain....
JLG Rebrands Service Offerings Under Ground Support Name
JLG Industries last week announced it has re-branded its comprehensive offering of services under a single name, Ground Support, which will become the new umbrella brand for JLG’s parts, training, used equipment sales, reconditioning, repair and maintenance services, financing and technical support services....
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