All Business & Finance Articles

HSS reports 11% growth in first quarter revenue
HSS Hire in the UK posted an 11% increase in like-for-like revenues to £41.9 million for the first quarter of 2010. The company, which reported 26% increase in EBITDA profits to £9.3 million, said the results were “strongly ahead of market performance”.
DRPA approves US$ 139 million Walt Whitman Bridge refurbishment
The DRPA approves a US$ 139 million refurbishment of the Walt Whitman Bridge, its largest capital improvement project ever.
Briggs buys United Rentals Monterrey location
Briggs International has acquired United Rentals’ rental location in Monterrey, Mexico, and will combine it with its Monterrey materials handling operation. Briggs is one of the largest forklift truck rental companies in Mexico and recently acquired Maquinaira Ligera Equinter, a materials handling dealer based in Mexico City.
World Crane Auction update
Since the announcement in April of the first World Crane Auction, more than 80 cranes have been consigned for sale
Growth in Chinese construction spending to continue
Construction spending in China is forecast to grow at +9.1% each year through to 2014 according to the latest study by The Freedonia Group.
Russian infrastructure recovery boosts Mostorest’s results
Russian contractor Mostorest reported 2009 sales of RUR 33,2 billion (€ 852 million), up +16% on 2008 with pre-tax profits of RUR 3,3 billion (€ 86 million).
Global growth expected in 2011
Global construction activity is expected to remain flat during 2010 and then grow nearly +5% in 2011
Troubled times for the demolition industry - the 2010 D&Ri100
This year's D&Ri listing paints a picture that reflects the tough economic conditions being experienced by the construction industry worldwide
John Deere optimistic after improved first half
The construction and forestry division of John Deere reported sales for the six months ending 30 April 2010 of US$ 1.5 billion, up +15% on the US$ 1.3 billion recorded for the same period in 2009.
European construction down again
New figures from Eurostat show that construction output across the EU was down -2,4% in March compared to a year ago. In the 16 country Euro zone the fall was even more pronounced with a -5,2% decline.
Briggs buys Mexican Bobcat and Hyster dealer Equinter
Briggs International has acquired the assets of Maquinaria Ligera Equinter (Equinter), a Mexico City-based Bobcat and Hyster forklift dealer. The deal will double Briggs’ existing business in Mexico, which is mainly renting material handling equipment. It will also join the Hyster and Yale forklift brands in Mexico.
Neff enters 'prearranged' Chapter 11 to restructure
One of the largest US rental companies, Neff Rental, has entered Chapter 11 bankruptcy protection in the US. Neff, which continues to trade as normal, said the filing was prearranged and would allow it to restructure its debts.
Tiong Woon holds out for hopeful future
Singapore-based Tiong Woon posted a 35% increase in net profit for the third quarter of its 2009/2010 financial year but remains cautious about the future
Ramirent and Havator sign five year cooperation deal
Ramirent has signed a five year rental and cooperation deal with Finnish crane, heavy lifting and transportation company Havator. As part of the agreement Ramirent is acquiring Havator’s self-propelled aerial platform fleet, numbering over 200 units, for an undisclosed price.
Fil Filipov on his acquisition of Atlas
Former Terex executive Fil Filipov has acquired Atlas loader cranes from his old company. IC talked to him about the deal
New president and CEO announced for Granite Construction
Granite Construction president and CEO William G. Dorey to retire August 31 after 42 years, James H. Roberts to succeed him as of September 1.
Eazzilifts enhance AFI's push around fleet
AFI-Uplift has invested in 15 Eazzilift Mini and 10 Eazzilift Midi machines, with respective working heights of 3.8 m and 4.3 m strengthening the range it offers in the push around vertical sector.
Platform Sales & Hire buys BAR
UK company Platform Sales & Hire, based in Leighton Buzzard has bought BAR (Bucks Access Rentals). BAR was established in 2005 and, for some time, the companies have worked in collaboration.
DLF revenues leap +59%
India’s largest real estate developer sees recovery in residential market, with prices rising +10% to +30%.
Europe's rental market fell by 17.2% in 2009 says ERA
The European equipment rental market fell by 17.2% to €20.2 billion in 2009 and is expected to fall by between 0% and -5% in most countries this year, according to the latest rental market report published by the European Rental Association (ERA).
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