Saudi Arabia needs to invest more than SAR 680 billion (US$ 181.3 billion in its real estate sector to meet expected demand for housing by 2015, according to a report, by local investment bank NCB Capital.
Access rental specialist, the Lavendon Group, was able to announce encouraging results in a pre-close trading update. The Group's revenues for the five months ending 31 May 2008 have increased by 37% compared to the same period last year with operating margins continuing to improve.
Chinese construction equipment manufacturer Changsha Zoomlion Heavy Industry Science & Technology Development Co Ltd (Zoomlion) has announced the acquisition of Italy's Compagnia Italiana Forme Acciaio (Cifa) for € 271 million (US$ 421.9 million).
Ashtead Group has reported strong results for its US and UK rental businesses and confirmed the sales of its specialist equipment division, Ashtead Technology, to a management buy-out team backed by private equity firm Phoenix Equity Partners.
June saw confidence in the European construction sector fall into negative territory for the first time in the year-and-a-half history of the CE Barometer. Although respondents to the survey were still positive on the future outlook, other measures of confidence were at new lows.
CNH has announced a +5% across the board surcharge for all its products in reaction to sharp rises in its steel and energy costs. The supplement applies to Case and New Holland Construction machines, as well as to attachments.
UK Manufacturer Niftylift has recently acquired full product certification and permission to use status, for its entire range of machines in Russia. In addition the company has begun supplying its range of self propelled platforms to a Hungarian rental company.
Lewis Equipment, the Grand Prairie, Texas-based hoist and tower crane specialist, now has 250 GJJ hoists in its US fleet and is expanding its links with the Chinese manufacturer through sales in New Zealand and Australia.
US scaffold and aerial platform manufacturer, Bil-Jax, has formed a 'Go Green' Committee. The committee's role is to investigate and implement initiatives which will reduce the environmental impact of the company's manufacturing practices and day-to-day operations.