Sandvik Acquires Manufacturer of Drilling/Bolting Machines
Sweden-based Sandvik last week reached an agreement to acquire Hydramatic Engineering Pty Ltd. ...
ConExpo Asia 2007 Surpasses ’06 Exhibit Space
Exhibit space for ConExpo Asia 2007 has already surpassed the size of the 2006 show’s exhibit space. As of mid-February, exhibit space sales topped 39,000 square meters, more than 24 percent greater than the size of the 2006 show. ...
Australian Access Company Reports Strong Fiscal First Half
Melbourne, Australia-based crane and aerial work platform specialist Boom Logistics reported a 25 percent profit increase for its fiscal first half year ended Dec. 31. The company reported a net profit of AU$19.6 million (about U.S. $15.5 million). Earnings before interest and tax was AU$33.8 million (about U.S. $26.7 million), up from the previous corresponding period’s AU $26.2 million....
Coates Grows Revenues Although Profits Decline
Australian rental giant Coates Hire reported a disappointing net profit of AU $46.5 million (about U.S. $36.8 million) for fiscal first half ended Dec. 31, a 6 percent year-over-year decrease. At the same time, Coates CEO Malcolm Jackman said the company expected an improvement over the next year, predicting its operating earnings would rise by 13 to 17 percent this year. ...
Ramirent Posts 28 Percent 2007 Volume Increase
Helsinki, Finland-based Ramirent posted a net sales increase of 28 percent for 2006, rising to [Euro] $497.9 million, or U.S. $653.9 million. EBITDA grew 60.2 percent to € 171.6 million (U.S. $224 million) and operating profit leaped 90.7 percent to € 110.3 million (U.S. $144.9 million)....
Prime Minister Blair Visits New Tanfield/UpRight Facility
Tanfield Group Plc, which bought the machine division of UpRight last year, opened its new Vigo Centre headquarters with the backing and presence of England’s prime minister Tony Blair....
Atlas Copco opens Customer Centers in Pakistan, Tanzania
Stockholm, Sweden-based Atlas Copco has established fully owned customer centers in Lahore, Pakistan, and Tanzania. ...
Ingersoll Rand Acquires Remaining Interest of Instrum Rand
Hamilton, Bermuda-based Ingersoll-Rand Co. last week announced that it completed the acquisition of the remaining 40.2-percent interest in Pavlovo, Russia-based Instrum Rand JSC. Terms were not disclosed. ...
New Zealand’s Hirepool Acquires Vehicle Rental Specialist
New Zealand rental equipment leader Hirepool Limited last week continued its acquisition spree with the purchase of truck and commercial vehicle rental specialist Henderson Rentals....
Irish Crane Rental Company For Sale
Irish rental company William O’Brien Plant Hire has hired advisors to handle the sale of the company, according to Irish Internet reports. The 50-year-old crane rental specialist has hired Merrion Capital’s Cork, Ireland, office to find a buyer for the company over the next couple of months....
Volvo CE Closes Deal with Lingong Construction Machinery in China
Volvo Construction Equipment last week said it has received all necessary regulatory approvals for the earlier announced equity investment of 70 percent in Shandong Lingong Construction Machinery Co., Ltd., a major construction machinery manufacturer in China, and the deal is now closed....
Crane Giant Tat Hong Launches Chinese Joint Rental Venture
Tat Hong Holdings, an international crane rental specialist based in Singapore and listed on the Singapore Stock Exchange, last week announced a joint venture in China. Tat Hong is allying with Zhong-Jian Zhenghe Construction Machinery to launch a tower crane rental business in China....
Malaysian Equipment Company to Start Chinese Rental Branch
UMW Corp., a Malaysian equipment company, last week said it received a certificate of approval from the Shanghai Foreign Investment Committee to incorporate a rental and fleet management company known as Vision Fleet Equipment Leasing Shanghai....
Facelift Access Opens Birmingham Branch
United Kingdom access rental company Facelift Access Hire recently opened a branch in Birmingham, England. Facelift managing director Gordon Leicester said the company had looked for a presence in the Midlands area of England for some time....
Cramo Acquires Norwegian Rental Company
Cramo AS, the Norwegian wholly-owned subsidiary of Helsinki, Finland-based Cramo Plc, last week acquired Norwegian rental company Hamar Liftutleie AS, strengthening its position in the Norwegian rental market, particularly in the area near Ostlandet. Hamar Liftutleie expects revenues of close to U.S. $20 million in 2006....
Indian Equipment Market in Strong Growth Mode, Study Says
India’s infrastructure equipment industry is expected to reach $4.2 billion by 2010, compared to about $1.95 billion in 2004, according to a joint study by the Confederation of Indian Industry and KPMG....
U.K.’s Lavendon Posts 23 Percent Volume Jump
British aerial rental company Lavendon Group PLC last week said its full-year performance is ahead of the company’s expectations and it expects even further progress in 2007. ...
Deutz Launches Joint Venture In China
Deutz Ag and FAW Jiefang Automotive Co., which is based in Changchun, China, a wholly owned subsidiary of China First Automobile Works Group Corp., last week signed a contract to set up a joint venture to manufacture and sell diesel engines. ...
Blastrac Launches South Pacific Division
Blastrac Global recently marked a new, expanded presence in Australia, New Zealand and surrounding island nations with the formation of Blastrac South Pacific. ...
Multiquip Lands First Italian Concrete Dealer
Carson, Calif.-based Multiquip named Beton Tool Co. (BTC), Vicenza, Italy, its newest concrete product dealer and first in that nation....
British Hire Firm Vp Posts Strong First Fiscal Half
British equipment rental companies Vp PLC announced volume of 61.3 million pounds {about U.S. $120 million) for the six-month period ended Sept. 30, a 29.8-percent increase compared with the same period last year. ...
Ramirent Acquires Finnish Site Services Specialist
Helsinki, Finland-based multinational rental company Ramirent last week acquired RSK-Jarvinen Oy, a Finnish machinery rental company specializing in site services. RSK specializes in temporary electrification and heating at construction sites. RSK-Jarvinen has one branch in Vantaa, Finland. ...
New Zealand’s Hirequip to Sell to Japanese Private Equity
Hirequip, New Zealand’s largest rental company, agreed to sell to a Japanese private equity firm for NZ $165 million (about U.S. $112 million). The sale is subject to shareholder approval, according to the Dunedin, N.Z.-based public-traded rental company. ...
British Giant Speedy Hire Posts First Half Volume, Profit Increases
British rental company Speedy Hire last week announced volume rising by almost a third to about 150 million pounds (about U.S. $290 million) for the six-month period ended Sept. 30. Interim pre-tax profits were $16 million pounds (about U.S. $31 million). The profit level was about 19-percent higher than for the same period last year....
Australia’s Emeco in Line With Revenue Goals
Australian heavy equipment rental company Emeco Holdings last week said earnings for the year so far are in line with expectations. Managing director Laurie Freedman told shareholders that the company’s earnings and revenue goals for 2006 and 2007 are achievable as the company closes in on the first fiscal half-year period....
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