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Headline News
HERC
Establishes Joint Venture for Equipment Rental in Saudi Arabia
February 8, 2010
Hertz Equipment Rental Corp. has entered into a joint venture with
Saudi Arabia-based Dayim Holdings Co. to set up equipment rental
operations in Saudi Arabia to rent and sell equipment and tools to
construction and industrial markets throughout the country.
United
Rentals Posts Expected Rental Revenue Decreases in Q4 and Full-Year
2009
February 8, 2010
United Rentals posted full-year rental revenue of $1.83 billion in
rental revenue for the full year 2009, a not unexpected 26.7-percent
year-over-year decline compared with $2.496 billion in 2008. Rental
revenue for the fourth quarter was $450 million, compared with $606
million for the same period in 2008, a 25.7-percent drop.
Alta
Equipment Acquires Chicago's United Lift
February 8, 2010
Alta Equipment Co. has acquired a majority of assets of United Lift
from previous owners the Gorman family and is establishing another
Chicago-area location for the Hyster brand, possibly in Itasca, Ill.
Jack Gorman, his wife Nancy and their three children sold the United
Lift assets except for buildings and real estate in Bellwood and
Lansing, Ill.
The
Rental Place Acquires Sonoma Rentals
February 8, 2010
The Rental Place, a Sonoma County, Calif., rental company with
locations in Sebastopol, Santa Rosa and Rohnert Park, has acquired
Sonoma Rentals, Sonoma, Calif., from former owner Jim Hanson.
Air
Products Makes Unsolicited Bid for Red-d-Arc Parent Airgas
February 8, 2010
Air Products and Chemicals, a producer of industrial gases, last
week made an unsolicited $5.1 billion offer for competitor Airgas, which
is the parent company of Red-d-Arc Welderentals, North America’s
largest welder rental company.
JCB,
Volvo Reach Framework Agreement on Skid-Steers and Compact
Loaders
February 8, 2010
JCB and Volvo Construction Equipment have entered into a framework
agreement under which they will cooperate on the engineering and
manufacturing of skid-steer loader and compact tracked loader products
for distribution under their respective brands and through their
respective global dealer networks.
Toromont
Elects to Acquire Remaining Enerflex Trust Units
February 8, 2010
Toromont Industries Ltd. and Enerflex Systems Income Fund last week
announced that Toromont has elected to acquire all of the remaining
trust units of Enerflex on the same terms as the units acquired under
Toromont’s recently completed offer for Enerflex. This acquisition is
scheduled to be completed on Feb. 26.
SmartEquip
and National Equipment Register Announce Risk-Management
Alliance
February 8, 2010
SmartEquip and the National Equipment Register, an ISO company,
have announced a strategic alliance to help equipment owners and
manufacturers better manage liability and risks — such as theft,
safety and regulatory compliance — associated with equipment
ownership.
Orderly
Liquidation Values Increase 1.6 Percent in December, Rouse Says
February 8, 2010
December orderly liquidation values for used equipment across the
10 major rental category indices tracked by Rouse Asset Services
increased 1.6 percent compared with November values, according to
Rouse’s most recent Construction Rental Report.
RER & the Environment
Caterpillar
World Headquarters Awarded LEED Gold
February 8, 2010
The Caterpillar Administration Building, which serves as the
company’s world headquarters, has been awarded LEED-EB(R) O+M
(Leadership in Energy and Environmental Design for Existing Buildings:
Operations and Maintenance) Gold certification from the United States
Green Building Council. Achieving the certification makes the
Caterpillar facility, located in downtown Peoria, Ill., the first
building in Illinois outside of the Chicago metropolitan area to become
LEED-EB certified and the second building in the Caterpillar family to
earn the recognition. The Cat Financial Center in Nashville, Tenn.,
received LEED-EB certification in April 2009.
World of Concrete
Lower
Traffic but More Upbeat Attitudes at World of Concrete
February 8, 2010
While foot traffic appeared slower at the World of Concrete show in
Las Vegas last week, many exhibitors interviewed by RER reported
a more optimistic, upbeat attitude among customers. Several
manufacturers reported a better-than-expected order-writing environment
in what is generally not viewed as a buying show.
Wall Street Beat
Volvo
Group 4Q Net Sales Fall 23 Percent
February 8, 2010
Volvo Group last week reported a fourth-quarter operating loss of
slightly more than SEK 2 billion (about U.S. $272.3 million). According
to the company, the main focus during the quarter was on cash flow and
the Group created a positive cash flow of SEK 8.6 billion (U.S. $1.2
billion), which is one of the best cash inflows ever for a single
quarter.
The
Manitowoc Co. Reports 31-Percent 4Q Decline on Slow Crane Sales
February 8, 2010
The Manitowoc Co. last week reported sales of $838.7 million for
the fourth quarter of 2009, down 31.1 percent from $1.2 billion in the
fourth quarter of 2008. The sales decrease was due primarily to a
49.1-percent decline in the Crane segment, partially offset by a 31.3
percent increase in the Foodservice segment.
Revenues
Decline 19 Percent for Atlas Copco in 4Q09; Focuses on Growth in
�10
February 8, 2010
Atlas Copco last week announced that fourth-quarter revenues
declined 19 percent to SEK 15.9 billion (about U.S. $2.17 billion ) and
the operating profit was SEK 2.5 billion (U.S. $333.5 million) compared
with SEK 3.3 billion (U.S. $447.6 million) for the same period last
year, corresponding to a margin of 15.4 percent, down from 16.7 percent.
Orders received declined 9 percent organically compared to the previous
year, but increased sequentially.
Terex
Announces 4Q and Year-End 2009 Earnings Call
February 8, 2010
Westport, Conn.-based Terex Corp. will release its fourth quarter
and year-end 2009 financial results on Wednesday, Feb. 17, after market
close. The company will host a conference call to review the financial
results on Feb. 18, at 8:30 a.m. EST. Ron DeFeo, chairman and CEO, will
host the call.
Cummins
4Q Sales Grow 3 Percent; Profits Increase
February 8, 2010
Cummins Inc. last week reported that the fourth quarter 2009 was
the most profitable fourth quarter in company history, eclipsing the
previous mark set in 2007. Sales of $3.4 billion grew 3 percent from
$3.29 billion in the fourth quarter 2008, while net income attributable
to Cummins Inc. increased to $270 million, or $1.36 a share, from $43
million, or 22 cents a share, a year ago. Fourth-quarter results were
driven by continued strength in China, India and Brazil, along with a
significant increase for on-highway truck engines and components in
North America in advance of new emissions standards that took effect at
the beginning of 2010.
The
Stock Block
February 8, 2010
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
Komatsu-Cummins
Partnership Produces 500,000th Engine at Oyama
February 8, 2010
The Komatsu-Cummins Engine Co. (KCEC) in Japan recently achieved a
major manufacturing milestone with the production of the 500,000th
engine from the Oyama joint venture operation. Engine number 500,000
came off the Oyama production line in December 2009.
Classifieds
February 8, 2010
Acme
Rents -- Rental supervisor position in Fargo, N.D.
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