Finning Names Waites New CEO
Finning International last week named Michael Waites president and CEO of Finning International effective following Finning’s annual general meeting May 6. Subject to shareholder approval, Waites will also join Finning’s board of directors at that time....
Aggreko Posts 28 Percent Revenue Jump in 2007
Aggreko, international leader in power generation rentals posted a 28.2 percent revenue increase in 2007, with £693.2 million (about U.S. $1.4 billion), compared with £540.7 million in 2006. Trading profit leaped 54.8 percent from £86.7 million in 2006 to £132.2 million in 2007, while operating profit jumped 53.2 percent from £89.5 million in 2006 to £137.2 last year....
Modern Group Offers Credit Line With CNH Capital
Leading regional distributor and rental company Modern Group Ltd, based in Bristol, Pa., has entered into an agreement with CNH Capital America LLC, the Racine, Wis.-based financial services business of construction equipment manufacturing giant CNH Global to offer the Modern Group Ltd. Preferred Card. The card is a dedicated line of credit Modern customers can use for parts, service and rental purchases....
Prime Energy Changes Name to Atlas Copco Prime Energy
Prime Energy, a company within the Atlas Copco Group has changed its name to Atlas Copco Prime Energy. ACPE rents 100-percent oil-free portable air compressors, serving such industries as refining and petrochemicals, pipeline construction, food and beverage, container manufacturing, metals, paper, glass, textiles and many others....
Chicago Rents to Re-Rent Large Boomlifts
Chicago-based Chicago Industrial, a wholesaler of mostly aerial equipment, has formed Chicago Rents, which will focus on the wholesale re-rental of large boomlifts to regional and national aerial rental companies. Justin Cyrnek, president of Chicago Industrial, said the formation of Chicago Rents was a natural development, leveraging Chicago Industrial’s many strong relationships with aerial rental companies....
Economic Stimulus Package Provides Opportunities For Rental Industry
President Bush recently signed H.R. 5140, The Economic Stimulus Act of 2008 to address short-term economic uncertainties and to put money back into the hands of American workers and businesses, spurring future growth. In total, the impact of the stimulus package amounts to more than $152 billion, or about one percent of Gross Domestic Product....
Custom Equipment and Ahern Rentals Announce Distributor Relationship
Richfield, Wis.-based Custom Equipment and Las Vegas-based Ahern Rentals last week announced the formulation of a formal distributor relationship between the two companies. Ahern Rentals has agreed to provide rental, retail sales and service coverage for Custom Equipment’s Hy-Brid line of aerial platforms throughout Ahern Rental’s 11-state coverage area....
Godwin Pumps Announces Promotions
Bridgeport, N.J.-based Godwin Pumps, the largest manufacturer of portable rental pumps in the United States with 24 branch offices and a network of more than 100 distributors worldwide, recently announced promotions within its North American operations....
Doosan Infracore's Jabbour Receives ARA's Special Service Award At The Rental Show 2008
Joe Jabbour, sales manager for Doosan Infracore Portable Power, formerly Ingersoll Rand Utility Equipment, was recently honored with a Special Service Award from the American Rental Association. The award was presented to Jabbour at The Rental Show 2008 on Feb. 11....
U.S. Construction Machinery Exports Top $17.2 Billion in 2007
Milwaukee The market for exports of U.S.-made construction machinery closed out 2007 with a gain of more than 26 percent compared to the previous year,...
North American Rental Market Tops $42 Billion, ARA Study Says
Moline, Ill. The total size of the North American rental market was $42.3 billion in 2007, according to the American Rental Association's 2007 State of...
Rental Veterans Launch Denver-Area Rental Company
Brighton, Colo. Greg Harrington and David Blood-Smyth, former management personnel for Rental Service Corp., have opened their own rental company, Contractors...
Trico Lifts Promotes Carmolingo, Timken
Millville, N.J. Trico Lift recently named Chris Carmolingo executive vice president and Mike Timken, chief financial officer. Carmolingo has been with...
Sunbelt Rentals Joins the SmartEquip Network
Fort Mill, S.C. Sunbelt Rentals last month announced it has significantly expanded its relationship with SmartEquip. In addition to recently going live...
24/7 Hires Top Studio Rental Salesman O'Malley
Burbank, Calif. 24/7 Studio Equipment has hired studio rental veteran John O'Malley as vice president of sales, 24/7 president Lance Sorenson told RER....
United Rentals Posts Record Earnings and Revenue for Q4 and FY 2007
United Rentals last week announced record earnings per share from continuing operations for both the fourth quarter and full year 2007. For the fourth quarter, earnings per share of $0.84 was an 18.3 percent year-over-year increase compared with $0.71 for the same period in 2006. For the full year, EPS was $2.76, a 21-percent jump compared with $2.28 for the full year 2006....
U.S. Construction Machinery Exports Top $17.2 Billion in 2007
The market for exports of U.S.-made construction machinery closed out 2007 with a gain of more than 26 percent compared to the previous year, for a total of $17.2 billion dollars worth of equipment sold worldwide, according to the Association of Equipment Manufacturers. The Milwaukee-based international trade group consolidates U.S. Commerce Department data with other sources into a quarterly export trends report....
Terex Completes Tender Offer for A.S.V. Inc.
Westport, Conn.-based Terex Corp. last week completed its cash tender offer for all of the outstanding shares of common stock of A.S.V. Inc. for $18 per share. The offer expired at midnight, Eastern time, Monday, Feb. 25, at which time approximately 27.1 million shares of ASV, including nearly 3.1 million shares tendered under guaranteed delivery procedures, had been tendered and not withdrawn, representing about 98 percent of the outstanding ASV common stock. All shares that were validly tendered and not withdrawn have been accepted for payment in accordance with the terms of the tender offer....
Harsco Establishes Panama Presence
Harsco Corp.’s Access Services business group has established a new operating presence in Panama. The new presence establishes a distribution channel for Harsco’s rental scaffolding and formwork systems in Panama and the surrounding region, where more than 150 major high-rise and resort complexes are either in development or approved for construction, including the 75-story Iron Tower and the 65-story Trump Ocean Club Hotel and Tower....
WesternOne Equity Posts Solid 2007 Results
WesternOne Equity Income Fund, a private equity group that recently acquired three rental companies in Western Canada, last week posted revenues of CD $22.5 million (U.S. $23 million) for 2007, compared to $6.6 million for its 201 days of operation in 2006. ...
Dayton Superior Posts Solid 2007 Profit
Dayton Superior Corp., a leading North American provider of specialized products for the non-residential concrete construction market, last week posted net sales of $116 million in the fourth quarter, equal to 2006’s fourth quarter net sales. However, income from operations was $11 million, compared to $3 million in 2006, reflecting gains in product sales gross profit, as a result of favorable pricing and ongoing cost-improvement programs....
H&E to Announce 2007 Q4 and Year-End Results
H&E Equipment Services said it will release its 2007 fourth-quarter and year-end financial results Friday, March 7, and hold a conference call to discuss the results at 10 a.m. EST. Participants should dial 913-981-5517 10 minutes before the call. A telephonic replay will become available at 1 p.m. EST and be available through March 19. Call 719-0-457-0820 and enter confirmation code 7491819....
Canadian Rental Company Guilty in Worker’s Death
Matthews Equipment Ltd., operating as Hertz Equipment Rentals, pleaded guilty and was fined $95,000 in the Ontario Court of Justice in connection with the death of a worker who died while operating a crawler bulldozer in 2005. The court also imposed a 25 percent provincial victim surcharge....
RSC Equipment Rental to Exhibit at Central Valley Facilities Expo 2008
RSC Equipment Rental last week announced it will attend the 18th annual Central Valley Facilities Expo 2008 in Modesto, Calif., from Wednesday, March 12 to Thursday, March 13. ...
RSC Rental Posts Double-Digit Q4 and Full-Year Rental Revenue Jumps
RSC Holdings posted solid increases for the fourth quarter and full year 2007 in a conference call held last week. For the fourth quarter, rental revenues increased 10.8 percent to $399 million, compared with $360.1 million in the previous year’s fourth quarter, with rental revenues accounting for 87.1 percent of the company’s total volume. Same-store rental revenues jumped 8.1 percent for the period....
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