All Business & Finance Articles

Former Coates executives join New Zealand's Hirequip
Hirequip, one of New Zealand’s largest equipment rental companies, has appointed former Coates Hire executives Garry Woods and Barry Meale as directors. Mr Woods will be chairman, replacing Kim Ellis, who is leaving the board after almost two years in the post.
UK's Balfour Beatty fined UK£ 2,25 million
UK engineering, construction, services and investment group, Balfour Beatty has agreed to pay UK £ 2.25 million plus a "significant" contribution to costs after the Serious Fraud Office (SFO) investigated payment irregularities at one of the construction firm's subsidiaries.
PVE and ICE merge
Dutch piling and vibratory hammering companies PVE-Dieseko and International Construction Equipment (ICE) have announced a merger with immediate effect
Skanska wins road building projects in Czech Republic
Sweden's Skanska has won two road building contracts in the Czech Republic for CZK 3,31 billion (€ 133 million).
LSR Group sales rise but profits hit by revaluation
Russia’s LSR Group posted first half (H108) revenues of US$ 940 million, up +53% on the US$ 616 million reported for H107.
Alimak Hek renames manufacturing companies
Alimak Hek Group AB announced that two of its product manufacturing companies, Alimak AB, Sweden, and Hek Manufacturing B.V, Netherlands, will be renamed Alimak Hek AB and Alimak Hek Manufacturing B.V, respectively.
Access write offs wipe out Tanfield's profit
Tanfield Group, owner of UpRight, Snorkel and electric vehicle maker Smith Electric Vehicles, has written off £75 million (€96 million) from its books, comprising £48 million (€61 million) to reduce goodwill and intangible assets associated mainly with Snorkel, £11.5 million (€15 million) for bad debt provision and a £15.3 million (€19.6 million) charge on the value of inventories of “slow moving and obsolete” machines.
Strabag postpones Russian cement expansion
Strabag has put on hold its plans to expand cement production into Russia.
AJ Access Platforms gets new look
UK-based AJ Access Platforms, which sells and rents aerial platforms, has renamed and rebranded itself as Access Platforms, incorporating the website address
GAM wins €6m wind power contract
GAM has won a €6 million contract with Suzlom Wind Energy Spain to transport and assemble 49 wind turbines in four new wind farms in Almeria, Spain.
Williams Scotsman opens four new depots in Mexico
Portable accommodation and storage renter Williams Scotsman has expended its operations in Mexico with four new depots in Juárez, Hermosillo, Riviera Maya and Tijuana.
Jewson Tool Hire orders 340 JCB compact machines
Jewson Tool Hire, the rental division of one the UK’s biggest builder’s merchant, Jewson, has ordered 340 JCB mini excavators and tracked dumpers as part of an updating of its fleet.
Barnhart acquires Marino
Marino Crane has been acquired by Barnhart Crane & Rigging in the US and is now a division of Barnhart Northeast, Inc.
CE Barometer September 2008: Autumn revival
Month-to-month activity picked up in September following the traditional summer lull, but the longer outlook is still bleak. Chris Sleight reports.
European monthly construction output up +0,2% in July
Eurostat, the statistical office of the European Commission, reported a June to July increase of +0,2% in construction output in the EU27 Member States, although year-on-year 2007 to 2008 figures for July showed an overall decline of -1,8%.
Romania access renter expands into general equipment
Romanian access rental company Industrial Access is expanding its product offering beyond aerials to include gensets, compressors, pumps, lighting towers and welding sets. The investment in the new products comes nine months after private equity firm Balkan Accession Fund acquired 90% of the company from founder and chief executive officer Stefan Ponea.
Wolseley reports growth in revenues and slump in profits
Wolseley reported group revenues of UK£ 16,5 billion (€ 20,8 billion) in the year ending 31 July 2008, up +2% on 2007 figures of UK£ 16,2 billion (€ 20,4 billion).
Tanfield to raise prices, but not on stock machines
Tanfield plans to increase prices of its UpRight and Snorkel ranges in line with those imposed by its competitors – in the 5% to 10% range – but the increases will not apply to current machines in stock.
Indian equipment rental association formed
Six rental companies in India met on 5 September in Bombay to create the first Indian Rental Association. The six were Gemini Equipment and Rentals, Quipo, Gemmco, TIL, Gremach and Jindal Earthmovers.
India's Gemini invests in powered access
Indian rental company Gemini Equipment Rentals PVT Ltd has made its first investment in self-propelled aerial platforms, ordering 25 MEC scissor lifts and considering placing further orders for booms and Spider type machines.
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