International News
Australian Construction Firm Acquires Rental Company
Australian construction company Global Construction Services has obtained a 75 percent ownership stake in Coast Hire, a southwest Australia-based rental company, for AU$4.5 million (about U.S. $3.6 million). GCS plans to acquire the remaining 25 percent in the future at a price to be arranged, subject to the company’s earnings performance....
Australia’s National Hire Posts 120-Percent Profit Leap
Australian equipment rental giant National Hire last week announced a 2007-08 net profit of AU$42.5 million (about U.S. $34.5 million) up 120 percent compared with $19.3 million in its previous fiscal year. It was National Hire’s first annual result since it acquired Australia’s largest rental company Coates Hire for AU$2.9 million in a private equity-backed transaction....
U.K.’s Speedy Offers Ladder Exchange for Safety
British rental giant Speedy Hire last week launched a ladder exchange campaign with the United Kingdom’s Health and Safety Executive to cut falls from height. Speedy Hire said it will inspect ladders brought in by customers and if deemed unsafe will offer a 50-percent discount on new ladders and stepladders certified by HSE....
John Deere Establishes Technology & Innovation Center in Europe
Deere & Co. last week announced it plans to establish a European Technology & Innovation Center in Kaiserslautern, Germany. Deere plans to have the center operational in the spring of 2010....
Cramo Enters Outsourcing Agreement With Danish Construction Firm
Helsinki, Finland-based rental giant Cramo last week signed an outsourcing deal to take over the existing machine fleet of MSE A/S. The deal includes a cooperation agreement making Cramo the primary equipment rental supplier of MSE A/S for a minimum of five years....
Harsco Receives $20 Million Contract Extension
Worldwide industrial services giant Harsco Corp. last week said it secured a three-year $20 million extension to its scaffolding services contract to support the final phase in the repainting of the Forth Rail Bridge in Scotland....
Emeco Posts 11.4 Percent Worldwide Revenue Jump
Australia-based Emeco Equipment posted an 11.4 percent revenue increase for its fiscal year, bringing in AU$617.9 million (about U.S. $530 million) compared with AU$554.4 million in the previous fiscal year. EBITDA margins dropped from 23.2 percent in the previous fiscal year to 19.5 percent in FY08, because of utilization impacts of revenue, an increasing cost base and a higher contribution from lower margin equipment sales and ancillary rental services....
Lavendon Renames U.K. Aerial Division
Lavendon Access Service, owner of the United Kingdom’s two largest aerial rental companies, Nationwide Access and The Platform Co., last week said it will combine the companies and name the combined units Nationwide Platforms. The brand will be launched throughout the U.K. Nov. 3....
Ramirent’s Growth Slows in Second Quarter
Ramirent, the Helsinki, Finland-based rental giant with operations in a dozen countries, posted a 17-percent decrease in second-quarter profits as demand softened in the Baltic countries, the company said last week. Net income declined to €21.7 million (about U.S. $32.3 million), compared to €26.2 million in the second quarter of 2007....
Cramo Posts Strong First Half and Second Quarter
Helsinki, Finland-based multi-national rental company Cramo last week reported higher-than-expected second-quarter revenue and operating profit. Cramo’s second-quarter operating profit jumped to €28.7 million (about U.S. $42.5 million) an increase of 32.3 percent compared with last year’s second quarter....
U.K.’s Selwood Group Acquires Welsh Rental Company Proplant
The Selwood Group, a United Kingdom equipment rental company particularly strong in pump rentals, has acquired Proplant, a Welsh rental company. For Selwood, the deal is its second acquisition in two months, having recently acquired Glo Hire and Sales, based in England....
Australian Boom Logistics Profits Drop Despite Revenue Gains
Australian crane rental giant Boom Logistics reported a strong decline in annual profits recently after writing down the value of some of its assets. Net profit for BL’s fiscal year ended June 30 was AU$18.64 million (about U.S. $16.42 million), a 46-percent drop from AU$34.44 in the previous year....
Europlatform to Focus on Futuristic Rental Companies
“The access rental company of the future” is the theme of the second Europlatform conference in Maastricht, the Netherlands, on Sept. 16, the day before the APEX show....
Transport Platform Working Group to Create European Standard for Transport Platforms
The Transport Platform Working Group of the International Powered Access Federation International Mast Climbing Work Platform Committee has started work on drafting a new European standard for transport platforms....
Finland’s Ramirent Lowers 2008 Expectations
Ramirent, the Helsinki, Finland-based international rental company, recently reduced its full-year estimates. While Ramirent still estimates net sales growth for the year, as a result of softening of markets especially in the Baltic states, the company said it expects profit before taxes and earnings per share to drop to less than 2007 levels....
New Holland Construction to Exhibit at ConExpo Russia
New Holland Construction last week announced it will participate in ConExpo Russia at the Crocus Expo International Exhibition Center Sept. 15-18. ...
Prospects Remain Strong, Australian Rental CEO Says
Australian rental firm Tuff Bryant Group Limited last week said the next 12 months would bring continued strong demand for cranes and general rental equipment in support of Australian resources, infrastructure and industrial construction market segments, despite some economic difficulties. ...
Harsco Secures $7 Million in International Contracts
Worldwide industrial services company Harsco Corp. last week said it secured three new contracts worth about $7 million to support large-scale infrastructure and construction projects in Europe and the Middle East....
Hirequip Investors to Sell Ownership Interest
Hirequip, one of New Zealand’s largest equipment rental companies, last week said its major shareholder, Nikko Citi Holdings, has agreed to sell its ownership interest to the Tasman Secondary Trust, managed by Tasman Capital Partners....
Toromont's Battlefield Acquires Mid-Canada Rentals
Toronto Toromont Industries recently acquired the assets of Sault Ste. Marie, Ontario-based Mid-Canada Rentals. Battlefield Equipment Rentals, a division...
Hirepool’s Tenby Powell Looks to Grow Rental Group in Australia
Tenby Powell, chief executive of New Zealand’s largest rental company Hirepool, is stepping down five years after acquiring the company. Powell, however, will remain as group chief executive of The New Zealand Rental Group, formerly known as Rakino Group — which includes Hirepool....
U.K.’s Speedy Hire Posts 36 Percent First-Quarter Revenue Jump
The United Kingdom’s largest rental company Speedy Hire last week said its first-quarter revenue grew 36.4 percent year over year, with strong growth in both its divisions. The company’s Tool Hire division jumped 46 percent, while its Equipment Hire revenues rose 31.2 percent, aided by acquisitions of Amec LSS and Carillion Asset Management....
Riwal, Dutch Aerial Rental Company, Establishes Croatia Operations
Riwal, one of the world’s largest aerial rental specialists, recently established a rental company in Croatia. Located in Split, with secondary rental locations in Zagreb and Rijeka, Riwal Croatia expands the company’s operations in southeastern Europe. Riwal opened a branch in neighboring Slovenia in 2005....
Kennard’s Concrete Division Expands to Queensland
Kennard’s Concrete Care has expanded into Queensland, operating from the Kennard’s Hire site in Springwood. Kennards Hire has Kennard’s Concrete Care rental centers in Sydney, Melbourne and Perth. ...
Australia’s Global Construction Services Acquires Coastal Hire
Australian construction services group Global Construction Services recently acquired a 75-percent stake in rental and sales provider Coastal Hire, which provides rental services in the fast-growing southwest corridor of Western Australia....
