All Business & Finance Articles

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.
Smit rejects Boskalis take-over bid
The Executive and supervisory Boards of Dutch maritime group Smit have rejected a € 1,1 billion take-over offer made by dredging contractor, Royal Boskalis Westminster, also of the Netherlands.
Kier reports strong annual results
Kier Group recorded annual sales of UK£ 2,3 billion (€ 3 billion) , an increase of +11,6% on 2007 figures of UK£ 2,1 billion (€ 2,7 billion).
Unic mini cranes move into the Med
European distributor of mini cranes, Unic Cranes Europe, has appointed three new distributors in Greece, Turkey and Cyprus
United Rentals pays $14 million and resolves SEC inquiry
United Rentals Inc. in the US has announced resolution of the Securities and Exchange Commission's (SEC) inquiry into alleged financial fraud committed during 2002 and earlier.
RSC expands services to industry
RSC Equipment Rental has formed a new Integrated Services Group to coordinate its product offering to industrial customers and has added higher capacity pumps and larger power generation units to expand the industrial product range.
Perini buys Tutor-Saliba for US$ 862 million
Perini has announced it has acquired the privately-held Tutor-Saliba Corporation for US$ 862 million after 88% of its shareholders approved the move.
Vinci acquires Taylor Woodrow
France-based Vinci Construction's UK subsidiary, Vinci plc, has acquired house builder Taylor Wimpey's Taylor Woodrow Construction for UK£ 74 million (€ 92.3 million).
High Level Platforms opens in Bristol
UK powered access rental company, High Level Platforms is opening a new branch in Bristol: the company already has branches in Poole, Dorset and Southampton. The new branch was opened by Joanna Claridge, Genie Industries', territory sales manager.
Go East: infrastructure investment fuels strong growth in Eastern Europe
With house building turning down in the wake of the global credit crunch, European construction output will shrink this year. However, growth is still strong in the developing Eastern economies and the infrastructure market in general looks buoyant. Chris Sleight reports.
Algeco starts renting in Russia
Algeco has established a portable accommodation rental business in Moscow, Russia and plans to establish a base in St Petersburg. The company already has rental operations in several eastern European countries – including Czech Republic, Estonia, Lithuania, Poland, Romania and Slovakia – but this is its first move into Russia.
Terex reduces revenues forecast by 3%
Softening aerial work platform and construction equipment markets in North America and western Europe have led Terex Corp to reduce by 3% its full year guidance for sales in 2008. The company now expects total annual revenues to be in the US$10.2-$10.6 billion range compared to the previously announced $10.5-$10.9 billion.
Repair and maintenance keep UK construction sector afloat
The latest figures from the UK's Office for National Statistics (ONS) show construction output in the second quarter of this year (2Q08) suffered a sharp slow-down in new build activity by the private sector.
Manitou buys Gehl
French material handling and access equipment manufacturer, Manitou, has acquired Gehl for $331 million (€230 M), or $30 (€ 21.2) per share.
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