Australia's construction industry continued to decline in August, although the rate of contraction moderated for a third consecutive month, according to the latest report by the Australian Industry Group (Ai Group).
Hertz Equipment Rental set up subsidiary Hertz Equipment Rental China and began operations in July in Shanghai. The move, according to the US-based company, makes it "the first...global equipment rental company serving its customers worldwide".
US Construction spending slipped -0.6% in July to US$ 1.08 trillion at a seasonally adjusted annual rate (SAAR), according to the latest report from the country's Census Bureau. Year-to-date (YTD) spending in the first seven months of 2008 was down -5.4% from the same period of 2007.
Spanish rental company GAM is to establish rental businesses in Mexico this month and in Brazil before the end of the year. The new openings are part of the internationalization strategy that has already seen the company establish operations in Portugal, Romania, Bulgaria and Poland.
Distributor and trading company Platform Sales Europe will offer the full range of scissor lift specialist Holland Lift in all 20 countries it operates, Arjan Roelse told AI. Platform Sales has ordered about 15 units from Holland Lift and will sell from its inventory.
The Indian construction equipment market is set to grow +14% this year according to the latest report from Off-Highway Research. Last year's record volume of 50366 units is forecast to rise to 57350 machines in 2008.
Vinci, the world's largest construction company had revenues of € 15,7 billion in the first half of the year. This was a +15% increase on January to June 2007. Its operating profit was up +12% to € 1,46 billion.
Ashtead Group said its A-Plant and Sunbelt Rentals businesses performed well in the quarter to 31 July with revenues growing and utilisation levels maintained despite both having significantly larger fleets.
Boels Verhuur BV in the Netherlands has acquired POL Geotechniek BV, a surveying equipment sales company based in Andelst, The Netherlands. POL is dealer for Leica Geosystems and sells other surveying and GPS equipment brands such Mikrolaser, 3D-win and Motorola.
Lavendon Group said that demand in Europe for its aerial platforms had been maintained in the first six months of the year, with the exception of Spain where a softening of the market and signs of oversupply have led the company to reduce its fleet size. Demand in the UK was down marginally but still strong.
Aggreko has shrugged off US and European economic problems to post a 28.4% increase revenues to £407.7 million for the first six months of the year and a rise in pre-tax profits of 41.9% to £67.9 million.
Bam reported first half sales of € 4,2 billion, up +10% on the same period in 2007. Pre-tax profit mirrored sales as it also climbed +10% from € 119 million in the first half of 2007 to € 131 million in 2008.