All Business & Finance Articles

Lavendon under pressure in all European markets
Lavendon’s access rental businesses are under pressure in all its major European territories and the company said it was taking further action to reduce its costs. The company has revised downwards it previously announced profit forecast.
D&G buys Verticon's hoist and crane business in Australia
D&G Hoist and Crane Hire in Australia has purchased Verticon's Australian hoist and crane rental division for AU$12 million (€6.5 million). The sale transfers Verticon's fleet of 140 passenger and materials hoists, all rental agreements, and 280 employees to D&G.
Verticon sold to D&G Hoist and Crane Hire
D&G Hoist and Crane Hire in Australia has announced its purchase of Verticon's Australian crane and hoist rental division
Terex access equipment sales fall 64%
Terex reported that net sales in the first quarter of 2009 for its Aerial Work Platforms (AWP) segment were $228.5 million (€172.3 million), a fall of $436.2 million (€328.9), or 65.6%, from the same period in 2008. Excluding the effects of foreign currency exchange rate changes, the net sales decrease was approximately 64%.
Haulotte commits to R&D after 61% fall in 1st quarter
Alexandre Saubot presented Haulotte’s first quarter figures at Intermat today (22 April). Despite a 61% drop in turnover from last year Haulotte is going ahead with the launch of a number of new products and, said Mr Saubot, continuing with investment in research and development.
Cat makes loss due to redundancy costs
Caterpillar had a net loss of US$ 122 million for the first quarter of the year, due charges of US$ 558 million relating to job cuts.
Terex sees US$ 75 million loss as sales fall -45%
Terex had a net loss of US $ 75 million for the first quarter of 2009, compared to a net profit of US$ 163 million for the first quarter of 2008. Sales were US$ 1.30 billion, a decrease of -45% from US$ 2.36 billion in the first quarter of 2008.
IPAF optimistic on European access rental potential
The International Powered Access Federation (IPAF) said that new research into the European access rental market revealed that some of Europe’s biggest access markets still have considerable room to grow.
Strong 2008 for Romanian construction, tough year ahead
The value of construction in Romania increased by +34% nominally (+26% in real terms), to RON 83 billion (€ 22.5 billion) according to the latest report by research and consulting company PMR.
New Zoomlion dealer network
Zoomlion is launching a new dealership network across Europe. The Chinese manufacturer's UK dealer Crowland is at the centre of the plans and has already become the only service centre in Europe to offer comprehensive spare parts.
Rental companies and dealers should work together, says Deprez
European Rental Association (ERA) president Gerad Deprez said rental company and equipment dealers should cooperate more closely, and in particular could do more to work together on remarketing of used equipment.
Leighton wins AU$ 1.1 billion schools PPP project
The Aspire Schools consortium, which includes Leighton Contractors, Leighton Services, the Commonwealth Bank, and the Broad Group has won the AU$ 1.1 billion (US$ 781 million) design, build and maintenance contract for seven new state schools in South East Queensland.
Speedy not expecting quick recovery in UK
Speedy Hire said it is preparing for a challenging market for the next two to three years, with the possibility that the worst of the UK recession was still to come.
Aggreko on course for solid year
Aggreko said it had made a strong start to 2009 with total revenues in the three months to 31 March 2009 growing by 42%, although this falls to 17% on a constant currency basis.
Saudi rail contract awarded
A consortium led by Al Arrab Contracting has won a SAR 6.79 billion (US$ 1.8 billion) contract to construct the first part of the 450 km-long high-speed rail link from Jeddah to Mecca and Medina - Islam's two holiest sites.
The pendulum swings - the 2009 D&Ri100
As we are all too well aware, the current economic conditions are not favourable, and this year's D&Ri100 listing reflects this fact. Lindsay Gale reports on a troubled year for the industry
Cramo bond issue raises €50m
Cramo is raising €50 million by issuing ‘hybrid capital bonds’, with the funds being used to reduce its interest-bearing debt. The bonds have been bought by Finnish investors, said the company on 15 April.
Impairment losses impact on Tanfield's profit
Impairment losses have had a serious impact on Tanfield's end of year figures: figures which would otherwise show that the company had come through a difficult year in relatively good financial shape.
VIDEO: Growth maintained for top 50 manufacturers
International Construction editor Chris Sleight discusses the results of the 2009 Yellow Table - our unique survey of the world's 50 largest construciotn equipment manufacturers.
Volvo honours top US rental franchises
Volvo Rents, the rental arm of Volvo Construction Equipment, named franchise holder Paul Bullock and family in the US as its 2008 Franchise of the Year. It is the third year in a row that the Louisiana family has won the honour.
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