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Headline News
Watts,
Bourque to be Inducted in Rental Hall of Fame
November 16, 2009
Mike Watts, chairman of Sunstate Equipment, one of the rental
industry’s largest independent rental companies, and the late Bill
Bourque, a major executive of Taylor Rental Corp. and Grand Rental
Station, will be inducted into the American Rental Association Hall of
Fame at The Rental Show in Orlando, Fla., Feb. 8.
Finning
Posts 27 Percent Q3 Decline
November 16, 2009
Finning International, the world’s largest Caterpillar dealer,
last week posted revenues of CA$1.1 billion for the third quarter of
2009, as well as EBITDA of CA$41 million.
Komatsu
Introduces Hybrid Excavator to North America
November 16, 2009
Komatsu America Corp. last week introduced its Hybrid PC200LC-8
excavator to the North American market at an event held at Montemayor
Construction headquarters in Elgin, Ill. The new Hybrid PC200LC-8 is
designed using hybrid technology to deliver fuel savings, power and
efficiency, while reducing the environmental impact as compared to
Komatsu’s standard excavator model.
NES
Rentals Improves Customer Loyalty Ratings
November 16, 2009
NES Rentals said last week that it has beaten its own Net Promoter
Score average three quarters in a row and is at an all-time high of 80
for the third quarter of 2009. The Net Promoter Score metric has allowed
NES Rentals to measure the progress of its customer service programs and
integrate customer feedback into the company’s continuous improvement
processes.
Foley
Finalizes Acquisition of Martin Tractor
November 16, 2009
Foley Equipment Co. last week closed a deal to acquire Martin
Tractor Co., making Foley the Caterpillar dealer for all but six Kansas
counties.
Western
Canada's WesternOne Posts Moderate Q3 Decline
November 16, 2009
WesternOne Equity Income Fund last week posted CA$7.7 million
(about U.S. $7.4 million) for the third quarter, a 13.8-percent decrease
compared with CA$8.8 million for the same period in 2008. The decline
was considerably smaller than most decreases posted by publicly traded
rental companies in Canada, the United States and Europe for the same
period.
Doosan
Infracore Portable Power Names Air Systems as New Dealer
November 16, 2009
Doosan Infracore Portable Power has appointed Air Systems LLC of
Louisville, Ky., as an authorized dealer of its Ingersoll Rand-branded
line of portable air compressors, mobile generators, light compaction
equipment and lighting systems.
United
Rentals Named a "Top 100 Military-Friendly Employer"
November 16, 2009
United Rentals last week announced that the company has been
selected by GI Jobs magazine as one of the nation’s Top 100
Military-Friendly Employers for 2010. More than 5,000 U.S. companies
with revenues of at least $500 million were considered for the honor,
which was awarded based on the strength of a company’s military
recruiting efforts, percentage of new hires with prior military service,
and workforce policies regarding National Guard / Reserve service.
Birch
Equipment Joins Annual Toys for Tots Drive
November 16, 2009
Bellingham, Wash.-based Birch Equipment Rental & Sales last week
announced it will support the U.S. Marine Corp’s Toys for Tots program
for the 12th year. From now through Dec. 18, Bellingham area residents
are encouraged to bring new, unwrapped toys for children ages 2 to 12 to
any Birch location. Customers running short on time can easily donate by
purchasing from Birch’s wide selection of construction-themed toys,
children’s art supplies and more.
International News
Tat
Hong Net Earnings Dive 70 Percent in Fiscal Q2
November 16, 2009
Singapore-based crane rental company Tat Hong last week said its
fiscal second quarter net earnings dropped 70 percent from the same
period a year ago to SGD$6.7 million (about U.S. $4.8 million). Revenue
for the three-month period ended Sept. 30 dropped 34 percent year over
year as the result of lower equipment sales and rentals.
RER & the Environment
Central
Virginia Rentals Goes Green as Global Electric Motorcars Dealer
November 16, 2009
Waynesboro, Va.-based Central Virginia Rentals recently announced
it is now an authorized Global Electric Motorcars (GEM) dealership,
service center and rental agency.
Wall Street Beat
United
Rentals Sets Pricing of Aggregate $650 Million of Senior Notes
November 16, 2009
United Rentals Inc. is planning an offering of $150 million of 4
percent convertible senior unsecured notes due 2015 and its United
Rentals North America subsidiary will sell $500 million of 9.25 percent
senior unsecured notes due 2019. The convertible senior notes will be
convertible under certain circumstances and during certain periods at an
initial conversion rate of 89.98 shares of United Rentals common stock
per $1,000 principal amount of convertible senior notes, representing an
initial conversion price of about $11.11 per share of URI common stock.
Kubota's
First-Half Sales Drop 22 Percent
November 16, 2009
Kubota Corp. last week reported that first-half net income dropped
46 percent to 19.3 billion yen (about U.S. $214.5 million) in the six
months ended Sept. 30. Sales fell 22 percent in the first-half of the
year to 444.6 billion yen (U.S. $4.9 billion).
The
Stock Block
November 16, 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
Cummins
Power Generation Announces Price Increases for 2010
November 16, 2009
Cummins Power Generation, a division of Cummins Inc., last week
announced price increases for its commercial generator sets between 6 kW
and 2500 kW. Prices of generator sets will rise between 1.5 and 2
percent and are effective Jan. 1, 2010.
EDCO
Celebrates 50th Anniversary
November 16, 2009
EDCO recently celebrated its 50th anniversary on Oct. 17 with a
dinner for its 60 employees at the Red Horse Restaurant in Frederick,
Md. The company designs, engineers and builds several lines of concrete,
asphalt and masonry equipment, which is produced at its
85,000-square-foot manufacturing facility in Frederick.
Thompson
Pump VP Celebrates 25 Years of Service
November 16, 2009
Dale Conway, vice president of engineering for Port Orange,
Fla.-based Thompson Pump & Manufacturing Co., recently celebrated his
25th year of employment with the company.
VIBCO
Vibrators President to Host "The Lean Nation" Daily Radio Show
November 16, 2009
Vibco Vibrators president Karl Wadensten recently began hosting
“The Lean Nation” radio show on 790AM Talk and Business in
Providence, R.I. Wadensten leads VIBCO using lean principles.
Interviews
Training
and Integration
November 16, 2009
RER conducted a series of interviews for our October issue
on software technology and has been publishing a number of them in
RER Reports. The fifth installment is with Michael Saint,
president of Baton Rouge, La.-based Corporate Services. Saint discusses
new developments in Corporate Services’ offerings, the importance of
training customers to understand the capabilities of the software
systems they have, using software to streamline service, the future of
software and more. Saint was interviewed by RER’s Michael
Roth.
RER: What have been some of the new developments in software
over the past year or so from your company?
Saint: One of the questions I was looking at is “Is buying
software or upgrading software a good decision?” And I start with the
premise that if I’m a poor driver, going out and buying a new, more
technologically advanced car is probably not by itself going to make me
a better driver. We’ve seen some fantastic successes with the
software, but we’ve also seen some pretty miserable failures.
Classifieds
November 16, 2009
NES
Rentals -- Outside Sales Position in South Plainfield, N.J., &
Wappingers Falls and Vestal, N.Y.
NES
Rentals -- Branch Manager Position in Wappingers Falls and Vestal,
N.Y.
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