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%.
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.
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 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.
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.
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.
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.
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.
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.
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.