All Business & Finance Articles

Indian site for Pegson and Powerscreen
Hosur in India is to be the site for a new Terex Pegson and Powerscreen manufacturing plant. Located 75 km from Bangalore near Chennai, the plant is to be the first part of what is planned as a campus of Terex facilities on the 45 acre site.
Fast track to environmental care
UK demolition contractor Clifford Devlin has fast-tracked its way to an ISO14001 compliant environmental system using the collaborative Fast-Track 14 (FT-14) programme in just six months.
RSC halves spending and reduces full-year outlook
RSC Equipment Rental in the US has reacted to economic uncertainty by halving its capital investment in new equipment in the first half of 2008 and has revised downwards its revenue growth estimates for the full year from 4-7% to 3-5%.
Kleeman breaks ground on new factory
German crushing equipment manufacturer Kleeman, part of the Wirtgen group, has broken ground on a new headquarters and manufacturing facility in Goppingen, Germany.
Aecon enjoys record backlog
Canadian contractor Aecon's order backlog stood at a record CA$ 1.48 billion (US$ 1.42 billion) at the end of June, +22% up on the figure of CA$ 1,21 billion (US$ 1.16 billion) a year previously.
Toyota is new Aichi US distributor
Using its extensive dealer network, Toyota is now the official US distributor of Aichi SV-Series scissor lifts, SP wheeled booms and IRS-Series crawler booms. Company plans for new models in 2009
Access Services lead Harsco's 17% rise
An 18% rise in second quarter operating profit to US$58.1 million from the Access Services segment led Harsco Corporation's 17% rise overall to $90.4 million from $77.0 million last year. Access sales rose 19% to $429 million from $361 million in the period last year.
GAP Group buys 100th 8t Kubota
The UK’s GAP Group has bought its 100th Kubota KX080-3 mini excavator, taking its total Kubota fleet up to more than 2400 units.
Eiffage results reflect positive first six months
Eiffage reported sales of € 6,5 billion for the first half of 2008, a year-on-year increase of +11,6%. Second quarter sales reflected a +12,6% increase on the same period in 2007.
Italcementi reports slowdown in sales
Italcementi recorded first half sales of € 2,8 billion, down -4,5% on the corresponding period of 2007. The downturn in sales reflected heavily in the group’s net profit, which fell to € 221 million, a -29,3% drop on the same period one year ago.
Heidelberg lifted by Hanson and emerging markets
Heidelberg Cement's sales for the first half of the year stood at € 6,93 billion. This represented a rise of +66% on the same period in 2007, and was largely due to the inclusion of Hanson in the figures, following its acquisition in September last year.
Endesa drives Acciona profits
Acciona's profits rose +180% in the first half of 2008 thanks to ownership of a stake in Spanish electricity company Endesa. The company's revenues were up +84% for the period.
Gardner Denver buys compressor maker CompAir
US compressor and vacuum products manufacturer Gardner Denver Inc has acquired UK compressor manufacturer CompAir for US$395 million in cash and assumed debt. The acquisition, announced on 21 July, will be completed in the final quarter of the year.
Haulotte outlines plans for Bil-Jax integration
Following the acquisition of Bil-Jax by Haulotte's US subidiary on 24 July, each of the product lines of the two companies will continue to wear its own brand.
Lavendon creates Nationwide Platforms
Nationwide Platforms is the new name that Lavendon Access Services has given its two major UK businesses, Nationwide Access and The Platform Company. The new combined identity will be formally launched on 3 November 2008.
Ramirent reduces full-year profit forecast
Ramirent said further softening of markets - particularly the Baltic States - and increased operating costs would make it difficult for it to meet its 15% profit growth estimate for 2008.
Strabag forms Joint Venture with Russia’s PIK Group
Austria’s Strabag SE has formed a joint venture (JV) partnership with Russia’s leading real estate developer PIK Group. The agreement means that PIK and Strabag take equal equity stakes in a new JV company named ILBAU.
Trade-in: why do big rental companies buy their own shares?
Why do publicly traded companies repurchase their own shares? And what does this mean for the rental companies and the equipment manufacturers? IRN’s finance correspondent, Jeff Eisenberg, explains.
JLG maintains sales but forecasts decline
Despite a 5% fall in sales in North America, JLG Industries managed to increase its sales by 5.3% to US$920.2 million and its operating profits by 27.3% to $125.2 million for the three months to 30 June.
United Rentals results down
US equipment rental company United Rentals Inc. reported a 44.8% fall in profits to $37 million in the second quarter of 2008. Profit in the first half of the year was $75 million, 24.2% less than the $99 million in the same period of 2007.
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