All Business & Finance Articles

Australian construction activity falls again, but rate slows
Australia's construction industry continued to decline in August, although the rate of contraction moderated for a third consecutive month, according to the latest report by the Australian Industry Group (Ai Group).
Terex lowers outlook
Terex has revised its forecast for 2008. Instead of US$ 10.5 billion to US$ 10.98 billion revenues it now expects sales to come in between US$ 10.2 billion to US$ 10.6 billion.
Hertz enters China
Hertz Equipment Rental set up subsidiary Hertz Equipment Rental China and began operations in July in Shanghai. The move, according to the US-based company, makes it "the equipment rental company serving its customers worldwide".
US construction spending slips in July
US Construction spending slipped -0.6% in July to US$ 1.08 trillion at a seasonally adjusted annual rate (SAAR), according to the latest report from the country's Census Bureau. Year-to-date (YTD) spending in the first seven months of 2008 was down -5.4% from the same period of 2007.
GAM to open up in Mexico and Brazil
Spanish rental company GAM is to establish rental businesses in Mexico this month and in Brazil before the end of the year. The new openings are part of the internationalization strategy that has already seen the company establish operations in Portugal, Romania, Bulgaria and Poland.
Platform Sales Europe grows sales offerings and staff
Distributor and trading company Platform Sales Europe will offer the full range of scissor lift specialist Holland Lift in all 20 countries it operates, Arjan Roelse told AI. Platform Sales has ordered about 15 units from Holland Lift and will sell from its inventory.
Indian equipment market to overtake Japan in two years
The Indian construction equipment market is set to grow +14% this year according to the latest report from Off-Highway Research. Last year's record volume of 50366 units is forecast to rise to 57350 machines in 2008.
Vinci: contracting drives revenues, concessions drive profits
Vinci, the world's largest construction company had revenues of € 15,7 billion in the first half of the year. This was a +15% increase on January to June 2007. Its operating profit was up +12% to € 1,46 billion.
Ashtead still growing in US and UK
Ashtead Group said its A-Plant and Sunbelt Rentals businesses performed well in the quarter to 31 July with revenues growing and utilisation levels maintained despite both having significantly larger fleets.
Profits up +3% for Bouygues
Following its mid August sales report, Bouygues has released its first half earnings presentation.
Boels enters surveying market with POL acquisition
Boels Verhuur BV in the Netherlands has acquired POL Geotechniek BV, a surveying equipment sales company based in Andelst, The Netherlands. POL is dealer for Leica Geosystems and sells other surveying and GPS equipment brands such Mikrolaser, 3D-win and Motorola.
Strabag records strong first half
Strabag recorded sales of € 4,7 billion in the first half of 2008, an increase of +18% on the € 4 billion recorded during the first half last year.
Lavendon says demand holding up and manufacturers being 'responsible'
Lavendon Group said that demand in Europe for its aerial platforms had been maintained in the first six months of the year, with the exception of Spain where a softening of the market and signs of oversupply have led the company to reduce its fleet size. Demand in the UK was down marginally but still strong.
European construction output slips
Mid-year data from Eurostat shows construction activity in the EU27 was –1,8% lower at the end of June than it was a year previously.
Developing markets fuel Aggreko revenue growth
Aggreko has shrugged off US and European economic problems to post a 28.4% increase revenues to £407.7 million for the first six months of the year and a rise in pre-tax profits of 41.9% to £67.9 million.
CE Barometer August 2008: Gloom deepens
Sentiment about the European construction sector softened further in August, with current activity falling and prospects for the future weakening. Chris Sleight reports.
Bam revenues up +10% in H1 08
Bam reported first half sales of € 4,2 billion, up +10% on the same period in 2007. Pre-tax profit mirrored sales as it also climbed +10% from € 119 million in the first half of 2007 to € 131 million in 2008.
Tiong Woon posts record profits
Tiong Woon Corporation Holding Ltd (TWC) announced a record net profit after tax and minority interest of S$28million (US$19.7 million) for the full year ending 30 June 2008. This represented an increase of 24% over the S$22.5 million ($15.9 million) it made in the same period the previous year
Genie's Roger Brown on the AWP slowdown
Roger Brown of Genie Industries, one of the company’s founders, said it was still too early to tell how severe and long the current downturn in the AWP market would be, but said the industry – and Genie – was better prepared for a slowdown than in the past.
Cramo signs Danish outsourcing deal
Cramo has signed an equipment outsourcing deal with regional Danish engineering contractor MSE A/S. Cramo will acquire MSE’s machine fleet and becomes MSE’s main rental supplier for the next five years.
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