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....
Finnish Rental Giant Reports Strong Nine Months
Helsinki, Finland-based multi-national rental company Rakentajain Konevuokraamo Oyj last week reported strong nine-month operating profits. RK reported € 285.8 million (U.S. $370 million) in consolidated sales for the first nine months of 2006, an 18-percent increase from pro forma sales in the first nine months of 2005. ...
Harsco Acquires Chilean Company
Harsco Corp., Harsco, one of the world’s largest suppliers of rental scaffolding, concrete formwork, shoring and other access-related equipment, last week closed its acquisition of Chilean construction services company Moldajes y Andamios TH S.A....
Cummins Plans to Double Sales in China
Cummins Inc., a global manufacturer of engines and related technologies, last week said it plans to more than double its sales in China by 2010 as it expands operations in the world's second-largest auto market. ...
British Lavendon Group Acquires German High-Reach Specialist
High-reach equipment rental firm Lavendon Group PLC is acquiring Germany’s third-largest supplier of powered access rental equipment The Gardemann Group for about 46 million euros (about U.S. $59 million). ...
Australia’s Coates Hire Acquires Allplant, Bennett Hire
Coates Hire, Australia’s largest rental company, last week acquired Allplant Ltd., the earthmoving equipment rental division of Macmahon Holdings, for AU $73 million (about U.S. $56 million). ...
Kennards Hire Opens Perth Branches
Kennards Hire recently opened three new branches in the metropolitan Perth, Australia, region. Kennards a family-owned company, now has nine branches in the Perth area, six years after moving into the area. Kennards now has 92 locations across Australia, nine of which were added in the second half of 2006....
British Vp PLC Acquires Scottish Rental Company
British equipment rental company Vp PLC last week said its subsidiary Hire Station has acquired Scotland-based MEP Hire Ltd., a rental firm handling press-fitting, electro-fusion and pipe-threading machines. Vp, based in Harrowgate, England, acquired the company for 3.3 million pounds in cash (about U.S. $6.3 million)....
Equipment Theft High in Eastern Canada
The Canadian provinces of Quebec and Ontario have become hotbeds of equipment theft, according to a report in the Montreal Gazette last week. Between $30 million and $40 million worth of heavy equipment disappears annually in Canada, the report said, and is never recovered. Backhoes, front-end loaders, tractors and skid-steer loaders rank among the most commonly stolen items....
Multiquip Expands Into Kuwait and Iraq
Multiquip Construction Equipment Pvt. Ltd., the Mumbai, India-based distributor for Multiquip Inc., signed an exclusive dealership agreement last week with Kuwait’s Badar Almulla Bros. Co. WLL. ...
British Vp Rental Group Posts Profitable ’05 Numbers
British equipment rental group Vp increased revenue by 10 percent to almost 100 million pounds, about U.S. $180 million, it announced last week. The company posted a 13.2 percent in pre-tax profits, around $20.6 million. ...
Volvo Construction May Set Up Facility in India
Volvo Construction Equipment, a wholly owned subsidiary of Swedish commercial vehicle major AB Volvo, is exploring the possibility of setting up a manufacturing facility in India. The company would manufacture select products in the proposed facility. ...
ConExpo Asia 2007 Set for December ’07
The next ConExpo Asia will be held December 4-7, 2007, at the Chinese Export Commodities Fair Pazhou Complex in Guangzhou, China. ConExpo Asia 2007 will feature exhibits of the latest technologies and innovations in construction-related equipment, products and services from leading manufacturers, both Chinese and non-Chinese. Industry educational programs and working equipment demonstrations will offer a learning experience for industry professionals from China, Asia-Pacific and beyond. ...
Japanese Rental Giant Begins Shanghai Rental Co.
Japan’s largest equipment rental company, Kanamoto Co., based in Sapporo, Japan, recently reached an agreement with Shanghai-based Shanghai Miyuan International Trading Co. Ltd., and Tokyo-based Orix Corp., to establish and manage a joint venture rental company....
Caterpillar Helps Develop Remanufacturing Industry in China
Caterpillar Inc. and China's National Development and Reform Commission (NDRC) have signed a letter of intent through which Caterpillar and NDRC will promote the development of China's remanufacturing industry....
Australian Portable Storage Rental Provider Acquired
Pasadena, Calif.-based General Finance Corp. last week announced that it entered into a definitive agreement to acquire RWA Holdings Pty Limited (the holding company of Royal Wolf Trading Australia), a privately held Australian corporation that sells and leases portable storage containers, portable container buildings and freight containers....
