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Headline News
United
Rentals Revenue Drops 32 Percent in Third Quarter
November 2, 2009
Total revenue dropped 32 percent for United Rentals in the third
quarter while rental revenue plunged 43 percent compared with the same
period in 2008. Total revenue was $592 million compared with $873
million in the year-ago quarter, while rental revenue declined from $684
million in last year’s third quarter to $478 million in this year’s
quarter.
Third-Quarter
Revenues Drop for RSC
November 2, 2009
Rental revenues decreased 35.1 percent in the third quarter for RSC
Equipment Rental, posting $272 million, compared with $419 million for
the third quarter of 2008. Total revenues were $316 million, down 32.4
percent from $467 million in last year’s third quarter.
Aggreko
Opens Wyoming Service Center
November 2, 2009
Aggreko, global leader in rental power, temperature control and
oil-free compressed air solutions, continues to grow with the opening of
its latest service center in Gillette, Wyo. The 5,000-square-foot
facility will house all aspects of the Aggreko business — sales,
service and fleet — providing a quicker and more comprehensive
response for local customers. The new center will allow the company to
provide improved service to its customers, including temporary power and
support to the area’s Powder River Basin gas fields.
AED,
AEM Lead Rally on Capitol Hill for Infrastructure Spending
November 2, 2009
A large caravan of bulldozers and other construction equipment
displaying huge banners paraded through the streets of Washington last
week to send a message to lawmakers that they must act now to stop the
job bleeding in the construction equipment industry. Start Us Up USA!
organizers, joined by House Transportation & Infrastructure Committee
Chairman Jim Oberstar (D-MN) and other allies, also staged a rally on
the National Mall against a backdrop of idle construction equipment and
a sea of orange flags to emphasize the 550,000 jobs lost in the industry
and encourage the federal government not to delay enactment of
multi-year highway legislation.
Hertz
Raises Guidance Despite Q3 Revenue Declines
November 2, 2009
Hertz Global Holdings reported third quarter 2009 worldwide
revenues of $2 billion a 15.7 percent year-over-year decrease (13.4
percent in constant currency). Worldwide equipment rental revenue for
the third quarter dropped 35.2 percent to $280.5 million compared with
$433.1 million for last year’s third quarter. Worldwide car rental
revenues dropped 11.5 percent.
Stephenson's
Rental Services Names New President and CEO
November 2, 2009
Stephenson’s Rental Services, one of Canada’s largest general
construction rental companies, last week named Guy Manuel the
company’s new president and CEO. Manuel has run significant businesses
in Canada and the United States with particular expertise in building
sales organizations, enhancing the customer service experience and using
an entrepreneurial approach to build strong and profitable
organizations.
AmQuip's
Bardonaro Named CEO
November 2, 2009
The board of managers of Philadelphia-based crane rental specialist
AmQuip Crane Rental, last week approved the promotion of Frank Bardonaro
Jr. to president and CEO. Bardonaro, who previously served as president
and chief operating officer, will take over for Richard Bard who will
remain as AmQuip’s chairman.
SMS
Rents Opens Branch in Quebec City Area
November 2, 2009
SMS Rents strengthened its presence in the Quebec City region of
Canada by opening a new branch in the south shore community of St.
Romuald. Nicolas Gagnon, Quebec region manager and Remi Martineau,
director of operations for the Quebec City area, opened the doors to the
new facility last month.
Aerial
Safety Conference to be Held Online in December
November 2, 2009
The third annual SAF-T aerial safety conference, organized by
Maximum Capacity Media, will be held online this year on a live webinar
Dec. 10, at 3 p.m. EST.
Dayton
Superior Emerges From Bankruptcy Protection
November 2, 2009
Dayton Superior Corp., leading North American provider of
specialized products for the nonresidential concrete construction market
and the largest concrete forming and shoring rental company serving the
domestic, non-residential construction market, last week said it has
emerged from Chapter 11 bankruptcy protection, effective immediately.
Construction
Employment Drops in 325 of 337 Largest U.S. Metro Areas
November 2, 2009
Of the 337 largest metropolitan areas in the United States, 325 of
them had declines in construction employment between September 2008 and
September 2009 according to a new analysis of metropolitan area
employment data from the Bureau of Labor Statistics released last week
by the Associated General Contractors of America. More construction jobs
were lost in Phoenix (35,100) than any other U.S. city, the report
noted.
H&E
Equipment Services Announces 3Q09 Earnings Call
November 2, 2009
H&E Equipment Services last week announced that it will release its
2009 third-quarter financial results before the market on Wednesday,
Nov. 4. The company will also hold a conference call to discuss
third-quarter results the same day at 10 a.m. Eastern Time. To listen to
the call, dial 913-312-1510, 10 minutes prior to the start of the call.
Three
Cat Dealers Add NorAm Lines
November 2, 2009
Ohio Cat, based in Cleveland; Mustang Cat, Houston; and Holt Cat,
San Antonio, have all become dealers for NorAm’s 65E compact motor
grader.
Terex
Names Lashley Tractor Sales New Compact Equipment Distributor in
Georgia
November 2, 2009
Lashley Tractor Sales, with locations in Lithonia, Atlanta and
Griffin, Ga., now distributes the full line of Terex compact
construction equipment. The Terex line includes compact track loaders,
compact excavators, compact wheel loaders, site dumpers, tractor loader
backhoes, light towers, telehandlers, compaction rollers and a tracked
utility vehicle.
Ritchie
Bros. Plans Grand Opening Unreserved Auction in Grande Prairie
November 2, 2009
Ritchie Bros. Auctioneers last week announced it is selling mining
and heavy construction equipment and trucks, including a fleet of
late-model rock trucks, in an upcoming two-day, multi-million dollar,
unreserved public auction at the company’s brand new permanent auction
site in Grande Prairie, Alberta, Nov. 24-25, starting at 8 a.m. each
day.
International News
UK's
One Stop Hire Acquires SJS Hire Tools
November 2, 2009
U.K.-based One Stop Hire, which recently acquired Bolton-based PSL
Hire out of administration, last week acquired SJS Hire Tools Ltd.,
based in Wrightington, Wigan, England, from Steve Etchells and family,
according to Internet news reports.
Harsco
Begins China Joint Venture with Major Construction Firm
November 2, 2009
Industrial services and scaffolding rental company Harsco Corp.
last week said it has entered into a joint venture partnership for
rental scaffolding, formwork and shoring services and equipment with one
of the largest construction groups in China.
International
Exchange Participants Learn New Business Practices
November 2, 2009
Both participants in the latest international rental exchange
learned the differences in rental business practices between the U.S.
and Australia, gaining valuable lessons they can apply when they return
to their respective jobs.
RER & the Environment
Dewalt
Receives Energy Star Rating On Battery Charger System
November 2, 2009
Dewalt last week announced that its DC9310 battery charger system
and all battery packs that are compatible with it, including all Dewalt
7.2V to 18V Nickel Cadmium (Ni-Cd), Nickel Metal Hydride (Ni-MH) and
Lithium-Ion (Li-Ion) batteries, have received the nationally recognized
Energy Star rating.
Contractor News
Kansas
Contractors Association Wins National Award for Training Program
November 2, 2009
The Kansas Contractors Association and six other leading
construction professionals, companies and chapters were recognized last
week for developing successful training programs, the Associated General
Contractors of America announced. The winners, which were announced
during the AGC HR and Training & Development Conference in Atlanta,
received the first-ever Education Excellence Awards designed to
recognize the construction craft, and supervisory and management
programs.
Wall Street Beat
Haulotte
Q3 Revenues Drop Almost 60 Percent
November 2, 2009
France-based aerial manufacturer Haulotte Group reported
consolidated third-quarter sales of €48.7 million (about U.S. $72.3
million) compared with €118.1 million for the same period last year, a
decline of 58.8 percent. However, the business has stabilized at a level
of activity of about €50 million per quarter since the beginning of
fiscal year 2009.
Atlas
Copco Achieves 3Q09 Profitability on Sales of Aftermarket Products and
Services
November 2, 2009
Atlas Copco achieved profitability in the third quarter, supported
by sales of aftermarket products and services, and continued efficiency
improvements, despite a decreased demand for equipment in most regions.
Revenues in the third quarter decreased 18 percent to SEK 15.01 billion
(about U.S. $2.15 billion) from SEK 18.44 billion (U.S. $2.63 billion) a
year ago.
Manitou
3Q09 Revenues Off 47 Percent Year over Year
November 2, 2009
Manitou Group last week announced that third-quarter 2009 revenue
for the group declined 47 percent to €146.7 million (about U.S. $216.9
million) from €275.6 million (U.S. $407.5 million) in the 2008 third
quarter. Revenues for the first nine months of 2009 were €504.5
million (U.S. $746.0), a decrease of 50 percent over €1.0 billion
(U.S. $1.48 billion) for the first nine months of 2008.
Komatsu
Net Sales Slide 45.8 Percent in First Six Months
November 2, 2009
While demand upturned in China in the first six-month of fiscal
2009, overall demand dropped sharply from the corresponding period a
year ago. The Japanese yen also appreciated. Against this backdrop,
consolidated net sales of construction, mining and utility equipment
totaled JPY 569.6 billion (about U.S. $6.4 billion), down 45.8 percent
from the first six months of 2008.
Gorman-Rupp
Declares Cash Dividend
November 2, 2009
The board of directors of Mansfield, Ohio-based The Gorman-Rupp Co.
last week declared a quarterly cash dividend of 10.5 cents per share on
the common stock of the company, payable Dec. 10, to shareholders of
record Nov. 13. This marks the 239th consecutive dividend paid by The
Gorman-Rupp Co.
Oshkosh
Corp. Announces 4Q09 Earnings Call
November 2, 2009
Oshkosh Corp., a leading manufacturer of specialty vehicles and
vehicle bodies, and parent company of aerial equipment maker JLG
Industries, will issue its fourth-quarter fiscal 2009 financial results
on Nov. 3.
The
Stock Block
November 2, 2009
Check in on some of the latest stock prices for publicly traded
rental companies and popular construction equipment and general tool
manufacturers related to the rental equipment industry.
Supply Side
Terex
Turning the Corner, DeFeo Tells Investors
November 2, 2009
After stating that the third quarter just completed was one of the
most difficult he had experienced in his 17 years with Terex, chairman
and CEO Ron DeFeo told listeners to the company’s conference call that
Terex has “turned the corner.”
Caterpillar
Implements Workforce Actions to Align Production with Demand
November 2, 2009
Caterpillar Inc. last week announced plans to selectively align
production levels with demand and resource requirements. Caterpillar has
already started bringing some laid off employees back to work at various
facilities, and based on current demand schedules, the company expects
to return other employees to jobs as demand increases in the coming
months. Approximately 550 laid off U.S. employees have returned or will
return to work before the end of 2010, including support, management and
production employees.
L&G
Equipment Manufacturer Ariens Co. Acquires Parker Co.
November 2, 2009
Ariens Co. last week acquired the assets of debris maintenance
equipment manufacturer Parker Co., based in Phoenix. Ariens will
continue to sell Parker products through two-step distribution in the
outdoor power equipment market, the company said.
Cummins
Promotes Pair of Leaders to Vice President
November 2, 2009
Cummins Inc. last week announced that Lori Thompson has been named
vice president – Truck and Bus OEM Business, and Lori Cobb has been
named vice president – North and Central America Distribution. The
promotions are effective Nov. 1 and both become corporate officers at
that time.
Honda
Named Official Generator of University of Alabama and Auburn
University
November 2, 2009
Honda Power Equipment last week announced that it has renewed
sponsorship agreements with two college football programs from the SEC
Conference. The University of Alabama and Auburn University once again
have named Honda’s Super Quiet EU Series of portable generators as the
official generator for their 2009 college football seasons.
Jaraff
Product Literature Available in Spanish
November 2, 2009
Product literature for the Jaraff all-terrain tree trimmer, Jaraff
Industries, St. Peter, Minn., is now available in Spanish, the company
said. The translated literature provides Jaraff’s Spanish-speaking
customers with vital product information, including specifications,
safety features and service locations.
Classifieds
November 2, 2009
NES
Rentals -- Outside Sales Position in South Plainfield, N.J., and
Williston, Vt.
Equipment
Wanted -- 2 Used Niftylift Model C64 Manlifts
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