All Business & Finance Articles

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.
IronPlanet auction sales up 37%
Construction equipment online auction company IronPlanet in the US reported second quarter gross auction sales of US$91.3 million (€58.6 million). The figure is an increase of 37% over the same quarter last year and 17% over the first quarter this year.
Lafarge reports positive half year sales
Lafarge recorded first-half sales of € 9,07 billion, up +8% on the same period in 2007. Increased sales were matched by an improved operating income of € 1,61 billion, an +18% increase on the comparable period one year ago. The company also reported a strong improvement in its 2008 first half operating margin to +17,8% from +16,2% in the first six months of 2007.
Vinci reports healthy first half figures
Vinci reported revenues of € 15,7 billion for the first half of the year, a +15% rise on the same period in 2007. After reporting robust first quarter figures earlier this year, the company continued brisk trading in the second quarter to record a +13.2% increase in second quarter sales over the same period in 2007.
Asian sales lift Kobelco
Kobelco's construction machinery sales for the first quarter of the Japanese fiscal year (April to June) totalled JPY 88 billion (US$ 815 million), a +19% rise on the same period in 2007. Operating profit was up +68% to JPY 6,71 billion (US$ 62 million).
Strabag buys into materials sector
Strabag has announced plans to acquire Cemex's building materials businesses in Austria and Hungary, which employ 1012 people and had sales last year of € 257 million.
Regional report: Latin America
Brazil continues to lead Latin American infrastructure investment and is forecast to increase spending in the run up to the 2014 Football World Cup. Richard High reports.
Meeting the need
It is not just noise and vibration issues that are driving hydraulic breaker development for Tramac (Montabert in Europe). Now part of DII attachments, the company told D&Ri that its North American customers are increasingly looking for improved reliability and ease of maintenance
SNC acquires Laboratoire Sol et Béton
SNC-Lavalin's Canadian subsidiary, Groupe Qualitas, has acquired Laboratoire Sol et Béton L.S.B., a company that specializes in material and geotechnical engineering. No financial details of the transaction were given.
Komatsu hits record highs
Komatsu posted first quarter sales of JPY 607 billion (US$ 5.7 billion), a +12.2% increase on the same period in 2007. In line with improved sales, operating profit also increased by +4.5% on 2007 first quarter figures as the company benefited particularly from sales in emerging economies such as China, Indonesia and the Middle East. In the construction, mining and utility equipment sector, Komatsu reported a +6.4% increase in sales against the 2007 first quarter to JPY 534 billion (US$ 5.0 billion).
Bronto reports strong order book
Finnish manufacturer Bronto Skylift has reported a 17.3% rise in orders compared to the same quarter last year. The company's backlog order book is now worth $181.7 million which is 58% higher than the same time last year.
Zoomlion exports 600 tonne crawler
Chinese manufacturer Zoomlion has sold a 600 tonne capacity QUY600 lattice boom crawler crane to a customer in India.
Haulotte feels effects of wait and see attitude
Haulotte's equipment sales for the first half of the year are down 14% compared to 2007. The company has felt the effects of a weak European market and the "wait and see approach" of a number of rental companies' response to the current economic climate.
Housing hampers Gehl
Gehl saw its sales for the first half of the year fall -33% compared to 2007 due to the sharp downturn in US residential construction. Operating profit for the compact equipment specialist was down -59% to US$ 10.1 million for the first half of the year.
Haulotte buys US manufacturer Bil-Jax
Haulotte Group's US subsidiary has acquired US aerial platform and scaffold manufacturer Bil-Jax for an undisclosed price. The acquisition will give Haulotte's business in the US a major boost, giving it a well-known domestic brand name, local manufacturing, and a well-established distribution network.
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