All Business & Finance Articles
Continuing low demand in Europe could force JLG to cut the workforce at its Maasmechelen plant in Belgium by over a third. As many as 109 of the 279 current staff could lose their jobs.
Gerald Plescia, president of Hertz Equipment Rental Corp (HERC), has retired from the company after 14 years in the position and 32 years with the company.
Ashtead Group has appointed Brendan Horgan as chief executive officer of Sunbelt Rentals. Mr Horgan, who was previously the company’s chief operating officer, replaces Joe Phelan who left Ashtead Group on 25 January.
Loxam has opened its first rental branch in Morocco, in Casablanca, under a partnership with local construction equipment distributor Stokvis. The company has also announced estimated revenues of €705 million for 2010, up 1.1% on the 2009 figure.
Preliminary 2010 financial results for Palfinger show revenue up 29% on the previous year
Brazilian rental companies are confident that construction activity in Brazil will sustain a five year boom in the rental sector.
Australian rental company Onsite Rental Group acquired Western Australia-based Statewide Equipment Hire in December for A$70 million (€51 million).
Brazilian rental company Mills Estruturas e Serviços de Engenharia S.A. (Mills) is acquiring a 25% share of Rohr Estrutura Tubulares, one of its competitors, for R$90 million (€40 million).
US aerial lift company, Trico Lift, has finalized the asset purchase agreement with Modern Group
Major US wholesale rental company Acme Lift has completed a $77.2 million recapitalization which will allow the company to enlarge its fleet and accelerate growth. The company will expand its fleet of articulated and telescopic boom lifts and large capacity telehandlers.
Terex Corp is considering the production of Genie self-propelled aerial work platforms and telehandlers at its new Brazilian plant, and could start production in 2012.
RSC Equipment Rental said its results for the final quarter of 2010 will be better than it forecast last October.
Following the announcement that German rental company AFI GmbH is going into administration, AFI-Uplift in the UK has said this will have no impact at all on its business
Ashtead Group and TVH will not make any further offer to acquire Lavendon Group.
Belgian parts specialist TVH Services has been given until 5.00pm on 8 February to announce a firm intention to make an offer for Lavendon Group.
Manitou and Terex are extending their aerial platform manufacturing cooperation with Terex now to supply three electric slab scissors for sale by Manitou.
Ashtead Group’s US business, Sunbelt Rentals, has acquired Louisiana scaffold contractor Empire Scaffold for US$38 million in cash, plus $1.5 million to be paid in August depending on profits.
Cramo has acquired Theisen Baumaschinen, one of Germany's largest equipment rental companies, giving it a significant share of the German rental market as well as rental businesses in Austria, Switzerland and Hungary.
As part of a move to further reduce the carbon footprint of its service van fleet, UK rental company AFI-Uplift has bought 22 Citroën Berlingo Enterprise vans and plans to replace the remainder of its existing service van fleet by second quarter 2011.
Genie and Terex Utilities parts are now being distributed from the new Terex Distribution Center East. The 500000 sq ft facility is located in Southaven just outside of Memphis, Tennessee and serves as a key supplier for the eastern and southern parts of the country.
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