All Business & Finance Articles

Doosan to acquire Moxy
Doosan Infracore has acquired Norwegian articulated dump truck (ADT) manufacturer Moxy for € 55 million through its European subsidiary DIEU. The company says it wants to increase Moxy's sales fivefold by 2012, from last year's € 54 million to € 250 million.
Indian access renters close to merger
Recently formed Indian access rental company OnRent Pvt Ltd is close to a merger with the access rental division of Madras Tools and Tackles Ltd (mtandt). Both companies are based in Chennai in southern India.
Brazil's Solaris creates earthmoving rental division
Brazilian rental company Solaris Equipamentos e Serviços LTDA (Solaris) aims to capitalize on growth in Brazil’s infrastructure and construction markets by creating an earthmoving equipment rental division to add to the aerial platform, telehandler and power rental operations it already has.
Tanfield subsidiary Snorkel lays off 125 in US
Tanfield Group’s US subsidiary Snorkel International is to lay off 125 workers at its plant in Elwood, Kansas. The lay-offs follow Tanfield’s announcement in early July of redundancies at its UK UpRight Powered Access and Smith Electric Vehicles (SEV) businesses.
Real estate division saps NCC profit
NCC's operating profit for the first half of the year was down -10% compared to the same period last year, to SEK 1138 million (€ 121 million). Its revenues were almost unchanged at SEK 27 billion (€ 2,88 billion).
Atlas Copco rebrands specialty rental operations
Atlas Copco’s Specialty Rental division has rebranded all its rental operations to include the Atlas Copco name. The businesses were previously operated under their original brands.
FCC moves into wind power
Spanish construction and utilities group FCC has agreed to acquire the Spanish wind power assets of Australian investment company Babcock & Brown for a total of € 780 million.
Holcim reports drop in first half sales
Holcim recorded first half sales of CHF 12,4 billion (€ 7,68 billion), down -4,4% on the same period in 2007.
Lend Lease full year profit up +8%
Lend Lease achieved an operating profit of AU$ 447 million (US$ 389 million) for the 12 months to the end of June, an +8% increase on the previous year's performance. Its revenues were up +3% to AU$ 4.7 billion (US$ 12.8 billion).
Heijmans results “poor”
Heijmans has described its financial results for the first half of the year as "poor." Its revenues were up just +2% compared to the first six months of 2007, to € 1,72 million, and its post-tax profit fell from € 19 million last year to just € 2 million for the first half of 2008.
Upright Deutschland takes on full Powered Access name
Germany's UpRight Deutschland, a division of Power-Lift GmbH, has been renamed UpRight Powered Access Deutschland.
PCA sees tough 2009
The Portland Cement Association's (PCA's) summer forecast for the US cement and construction industries says there will be a -7% decline in construction activity in 2009, following on from this year's -9% contraction.
Heijmans to sell industrial services business
Heijmans has agreed to sell its € 70 million per year industrial services business to SPIE.
Vp makes "good progress" in the UK
UK rental company Vp plc said its businesses had made "good progress" since June 2008 despite a more challenging business environment.
Aggreko targets oil sands projects with Canadian acquisition
Aggreko has agreed to buy Canadian power rental company Power Plus Rentals and Sales for up to C$38.7 million (£19.5 million). Power Plus is based in Edmonton and provides power for companies operating in the Athabasca Oil Sands areas in Alberta and Saskatchewan.
Branch, fleet growth raise Ahern Rentals revenues
Same-branch rental revenues rose 16% to drive Ahern Rentals second quarter 2008 rental revenues 20% higher to $83.9 million from $70.0 million last year. Three new stores since the second quarter of 2007 contributed $2.9 million, 4.1%, of the quarter's revenues.
Palfinger's Wumag takeover on track
Austrian and German anti-monopoly authorities have approved Palfinger's takeover of Wumag's Elevant, announced on 20 June.
Ramirent profits stall as slowdown hits
Ramirent’s revenues grew by 18.9% in the second quarter of 2008 but profits fell because of further softening of the market, particularly in the Baltic States.
Wacker sees slowdown effects through 2008
Wacker said there was a significant drop in demand for its light construction products in May and June, particularly from the US, Spain and the UK, and that it expected the slowdown to impact on sales of light and compact equipment for the rest of 2008.
Double-digit rises at Palfinger
Knuckle boom crane manufacturer Palfinger Group revenue of €423.5 million (US$631 million) in the first half of 2008 was 24.3% above the €340.6 million ($508 million) in the same period of 2007, writes Patrick Hill
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