All Business & Finance Articles

China’s Zoomlion acquires Cifa
Chinese construction equipment manufacturer Changsha Zoomlion Heavy Industry Science & Technology Development Co Ltd (Zoomlion) has announced the acquisition of Italy's Compagnia Italiana Forme Acciaio (Cifa) for € 271 million (US$ 421.9 million).
Ashtead confirms division sale and reports "strong" results
Ashtead Group has reported strong results for its US and UK rental businesses and confirmed the sales of its specialist equipment division, Ashtead Technology, to a management buy-out team backed by private equity firm Phoenix Equity Partners.
Balfour Beatty makes bolt-on rail acquisition
Balfour Beatty has agreed to acquire Schreck-Mieves, a German railway engineer and manufacturer of rail components, systems and specialist equipment.
Lafarge takes 35% stake in Algeria’s Meftah
Lafarge has acquired a 35% stake in the Meftah cement plant, in the Algerian capital Algiers market, together with a 10-year management contract, for € 43,5 million.
CE Barometer June 2008: Confidence turns negative
June saw confidence in the European construction sector fall into negative territory for the first time in the year-and-a-half history of the CE Barometer. Although respondents to the survey were still positive on the future outlook, other measures of confidence were at new lows.
Cramo boosts Norwegian presence with JM Byggholt deal
Cramo is taking over the rental division of JM Byggholt AS - one of Norway's top 10 contractors - and as part of the deal has signed a seven year rental supply agreement with the company.
Aggreko forecasts 40% profit rise for first half of 2008
Aggreko forecast a 25% growth in revenues and 40% higher pre-tax profits for its first half of the year to 30 June in a trading statement before it entered its close period for the period.
CNH announces +5% ‘surcharge’
CNH has announced a +5% across the board surcharge for all its products in reaction to sharp rises in its steel and energy costs. The supplement applies to Case and New Holland Construction machines, as well as to attachments.
Niftylift makes inroads into Eastern Europe.
UK Manufacturer Niftylift has recently acquired full product certification and permission to use status, for its entire range of machines in Russia. In addition the company has begun supplying its range of self propelled platforms to a Hungarian rental company.
Palfinger to take over Wumag's aerial platform business
Austrian manufacturer, Palfinger has announced that it is in the final stages of taking over the Elevant, aerial working platforms unit from Wumag GmbH.
UK private equity firm closes on Ashtead Technology
London-based Phoenix Equity Partners is to buy Ashtead Group's specialist offshore technology rental division Ashtead Technology, according to a report on the website of The Telegraph newspaper.
Lewis invests in GJJ
Lewis Equipment, the Grand Prairie, Texas-based hoist and tower crane specialist, now has 250 GJJ hoists in its US fleet and is expanding its links with the Chinese manufacturer through sales in New Zealand and Australia.
Turbulent times: Rise or fall of mastclimblers?
Has the current financial market turmoil and construction decline shifted the outlook for rack and pinion access equipment around the world?
Bil-Jax commits to ‘Go Green'
US scaffold and aerial platform manufacturer, Bil-Jax, has formed a 'Go Green' Committee. The committee's role is to investigate and implement initiatives which will reduce the environmental impact of the company's manufacturing practices and day-to-day operations.
Terex breaks ground on Demag logistics centre
Terex Demag has begun construction of a new logistics centre at its Zweibrücken, Germany factory. Work began last month and the centre is scheduled to be operational by the end of this year.
Cemex maintains forecast
Cemex had revenues of US$ 11.8 billion for the first half of the year, and achieved earnings before income tax, depreciation and amortisation (EBITA) of US$ 2.3 billion.
Management fully acquires Arcomet
Arcomet's management team, led by CEO Dirk Theyskens, has fully acquired the company from minority shareholders GIMV, Sofinim and NPM Capital
New UK hire company enters the access market
A new access rental company has opened in the UK. Upward Powered Access is based near Oxford and has a fleet comprising mostly of Genie scissor lifts and Niftylift booms.
UK housing crash
Housing starts in the UK in 2008 are expected to be the lowest since 1945 according to the latest Construction Output Forecast from the Construction Products Association.
Workx adds two more
Dutch rental company Workx acquired in May the companies Van der Linden Rentall and Dekker Rent, which operate four depots in the provinces of Brabant and Gelderland in The Netherlands. The acquisitions raise the number of Workx's depots to 55 and advance its expansion in the rental of building materials and wharf construction.
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