Equipment Sector News — Construction
Caterpillar to Sell Majority Interest in Logistics Business
Caterpillar said it has signed an agreement that would result in Platinum Equity acquiring a 65% equity stake in Caterpillar Logistics Services, the third party logistics division of its wholly owned subsidiary, Caterpillar Logistics Inc. The overall transaction is valued at approximately $750 million.
Read more...Date Posted May 11, 2012
Largest Cat Dealer Awarded C$96 Million Mining Equipment Deal
Finning International, the world’s largest Caterpillar equipment dealer, said its U.K. and Ireland division has secured a seven-year mining equipment and service contract with Hargreaves Services for a total value of approximately C$96 million.
Read more...Date Posted May 9, 2012
GE Capital: Positive Momentum for 2012 Construction Industry
In its Spring 2012 Industry Research Monitor on the construction industry, GE Capital noted that small but consistent quarterly improvements in virtually all metrics give positive momentum for 2012.
Read more...Date Posted April 30, 2012
CAT Reports Record Q1 Profit; Raises Outlook
With growing global demand for mining products and strong replacement demand in the U.S. offsetting a slowdown in China and Brazil, Caterpillar reported record quarterly profit of $1.586 billion, an increase of 29% from $1.225 billion in Q1/11. Caterpillar said it expects another record-breaking year in 2012.
Read more...Date Posted April 26, 2012
CNH Reports Double-Digit Growth in Ag & C/E Sales
CNH said first-quarter agriculture and construction equipment sales were up 18% and 41%, respectively. The company noted that sales of construction equipment in North America more than doubled compared to the same period last year.
Read more...Date Posted April 26, 2012
Caterpillar Sells Part of Bucyrus Business to WesTrac
Caterpillar said it has reached an agreement with Cat dealer WesTrac to acquire from Caterpillar the distribution business formerly operated by Bucyrus in Western Australia, Australian Capital Territory and New South Wales.
Read more...Date Posted April 12, 2012
Rouse: Used Equipment Values Rise in February
According to the Rouse Construction Rental Report for the month ending February 29, 2012, the Rouse Value Index of Orderly Liquidation Values for used equipment across the fourteen major rental equipment categories increased both over the previous month and over the previous six months.
Read more...Date Posted April 2, 2012
Caterpillar Backlog at Record Levels
In a note to investors, Zacks Investment Research said that Caterpillar’s year-end order backlog was as a record level of $29.8 billion or 59% higher than the end of the previous year.
Read more...Date Posted March 8, 2012
Rouse: Used Equipment Values Rise in January
According to the Rouse Construction Rental Report for the month ending January 31, 2012, the Rouse Value Index of Orderly Liquidation Values for used equipment across the 14 major rental equipment categories increased 0.6% over the previous month.
Read more...Date Posted March 2, 2012
Wells Fargo EF Construction Quarterly: ‘Worst is Behind Us’
The most recent Construction Quarterly from Wells Fargo Equipment Finance noted that despite high unemployment and depressed public spending, construction executives are optimistic that non-residential construction in 2012 will be better than in 2011.
Read more...Date Posted February 23, 2012
CAT to Expand in U.S. in Move Away From Japan
Caterpillar said it has selected land near Athens, GA for a new factory that will build small track-type tractors and mini hydraulic excavators. The company said production work now done in Japan will be moved to the U.S. in late 2013.
Read more...Date Posted February 21, 2012
Link-Belt Announces Top Five Dealers For 2011
Telescopic and lattice boom crane manufacturer Link-Belt announced its top five dealers for 2011. The company said these North American dealers were selected on the basis of total sales for the year.
Read more...Date Posted February 21, 2012
GE Capital Announces Financing Relationships with Doosan, Bobcat
GE Capital, Equipment Finance said it has extended its vendor financing relationship of more than 40 years with Bobcat Company. In addition, GE Capital is launching a new vendor financing program for Doosan-branded heavy industrial equipment.
Read more...Date Posted February 13, 2012
Wells Fargo EF: 2012 Construction Activity Expected to Improve
Construction contractors and equipment distributors are optimistic that local non-residential activity will improve in 2012, according to a recent survey by Wells Fargo Equipment Finance.
Read more...Date Posted February 1, 2012
CNH: Construction Equipment Demand to Continue Recovery
In its 2012 full-year market outlook, CNH Global said construction equipment demand is expected to continue its recovery with industry unit sales projected to be up 15 to 20% in 2012. The company also noted that its CNH Financial unit FY net income of $225 million was up 42%.
Read more...Date Posted February 1, 2012
GE Capital Survey: Construction Equipment Dealers Optimistic
Construction equipment dealers are looking forward to improving trends in 2012 while acknowledging the challenges facing the industry, according to survey results released by GE Capital, Dealer Finance.
Read more...Date Posted January 31, 2012
ACG: ‘Cautious Firms Quicker to Lease vs Buy New Equipment’
The Associated General Contractors of America noted in a recently released report based on a 2012 survey of the construction industry that “cautious firms are quicker to lease, instead of buy new equipment.”
Read more...Date Posted January 31, 2012
Construction Spending Hits 17-Month High in November
The Associated General Contractors of America reported that construction spending totaled $807 billion in November 2011, the highest level since June 2010.
Read more...Date Posted January 5, 2012
GE Capital: Q3 New Construction Equipment Shipments Up 44.6%
In its latest report on the construction industry, GE Capital said shipments of new construction equipment continued to improve increasing 44.6% year-over-year in Q3/11.
Read more...Date Posted December 21, 2011
IronPlanet: Cautious Optimism Into 2012; Opportunities Remain
Economic and construction industry growth will continue at a measured pace in 2012, but there are pockets of opportunity in terms of industries, geographies and improved operational efficiencies, and equipment inventory management is key, according to Franklin Langham, director of Financial Services Industry at IronPlanet, an online marketplace for used heavy equipment.
Read more...Date Posted December 21, 2011
Wells Fargo EF: Mixed Results for 2012 Construction Spending
In the most recent Construction Quarterly from Wells Fargo Equipment Finance, guest contributor Ken Simonson, chief economist, Associated General Contractors of America, said although the industry should post a gain in 2012, not all segments will benefit. Likewise, equipment vendors and lessors will face a mixed picture.
Read more...Date Posted December 16, 2011
Construction Spending Increases for Third Straight Month
Construction spending increased for the third straight month in October as private activity strengthened while public spending shrank, the Associated General Contractors of America reported in an analysis of new Census Bureau data.
Read more...Date Posted December 9, 2011
CNH Global Reports Higher Q3 Ag & Construction Equipment Sales
CNH Global said net sales increased 30% in third quarter as agricultural equipment markets continue to perform well and the construction equipment market continues its recovery.
Read more...Date Posted October 31, 2011
Volvo Rents Acquires Phoenix Equipment Rental Company
Volvo Rents said it acquired Papé Rents, a single location construction equipment rental company in Phoenix, as it continues to grow its network of company-owned stores.
Read more...Date Posted October 27, 2011
Caterpillar Global Sales Up 34%, But Pace of Growth Slows
Caterpillar released its latest dealer reported global machinery sales for the three-month rolling period ended August 2011 that showed worldwide retail dealer sales were up 34% year/year. The trend, however, was down from 35% in July, 45% in June and 52% in May.
Read more...Date Posted September 21, 2011
Wells Fargo EF Survey: Construction Activity Increases Y/Y
Wells Fargo Equipment Finance’s annual summer survey of construction industry executives indicated a noticeable shift toward greater construction activity and an overall rise in equipment rental rates compared to 2010.
Read more...Date Posted September 16, 2011
Volvo Rents Acquires Gulf South Machinery of Mississippi
Volvo Rents said it acquired Gulf South Machinery of Mississippi, a construction equipment rental company, looking to capitalize on projected growth of local construction spending.
Read more...Date Posted September 15, 2011
Volvo Rents Acquires Equipment Rental Company in Oklahoma City
Volvo Rents said it acquired WED, a single-location construction equipment rental company based in Oklahoma City, OK, as it grows its network of company-owned stores.
Read more...Date Posted August 24, 2011
Caterpillar: Pace of Dealer Sales Slowing Worldwide
In a filing, Caterpillar said growth in worldwide dealer sales of its heavy equipment slowed in the three months ended July, particularly in North America where sales slowed from 50% in June to 27%.
Read more...Date Posted August 19, 2011
Deere Reports Higher YTD Ag/Construction Equipment Sales
Deere & Company said agriculture and construction/forestry equipment sales were up 23% and 50%, respectively for the first nine months. Deere is forecasting that construction/forestry sales will increase 45% for full-year 2011.
Read more...Date Posted August 17, 2011
CNH Reports Double-Digit Growth in Ag, C/E Sales
CNH Global said agricultural and construction equipment unit sales in the second quarter were up 13% and 24%, respectively from last year and noted that North American construction equipment demand was up 37%, for both light and heavy equipment.
Read more...Date Posted July 26, 2011
CAT Raises Outlook, Notes Concern About U.S. Economic Growth
Caterpillar raised its global outlook for 2011 sales and revenues, but noted concerns with regard to U.S. economic growth. “A lack of confidence in the business climate is the major impediment to a stronger recovery and job creation,” CEO Doug Oberhelman said.
Read more...Date Posted July 25, 2011
Gainesville Biomass Power Plant Finishes Construction Financing
The Gainesville Renewable Energy Center, a 100-megawatt biomass power plant, has raised nearly $500 million in construction financing. Construction of the plant began in March 2011 and operations are expected to commence in late 2013.
Read more...Date Posted July 5, 2011
B&G Crane Acquires Texas Assets of Ray Anthony International
B&G Crane Service, a provider of mobile crane services, heavy rigging and specialty hauling, said it has acquired the Texas-based assets of Ray Anthony International, including the majority of RAI’s Texas fleet.
Read more...Date Posted June 29, 2011
Rouse: Used Construction Equipment Values Rise
According to the June 2011 Rouse Construction Rental Report for the month ending May 31, 2011, orderly liquidation values for used equipment rose 0.07% over the previous month.
Read more...Date Posted June 29, 2011
GE Capital: Construction Equipment Orders/Shipments Improve
In its latest Industry Research Monitor on the construction industry, GE Capital notes that construction equipment orders and shipments continued to improve and showed double-digit growth in the first quarter 2011.
Read more...Date Posted June 28, 2011
Deere: Proposal Threatens GPS Use in Agriculture, Construction
Deere & Company said a proposal under consideration by the FCC jeopardizes GPS use in agriculture and construction equipment and has the potential to negatively impact the U.S. economy by $96 billion.
Read more...Date Posted June 23, 2011
Volvo Rents Acquires Sampson Equipment Company
Volvo Rents announced the acquisition of Sampson Equipment, an equipment rental company based in Utah. Volvo Rents also said it is adding to its franchise network of rental stores by growing its company-owned stores.
Read more...Date Posted June 14, 2011
Equipment Dealer Rocky Mountain Announces $160MM Facility
Agriculture and construction equipment dealer Rocky Mountain Dealerships said it entered into a $160 million credit agreement to finance future acquisitions and growth initiatives.
Read more...Date Posted June 2, 2011
Titan Closes Acquisition of Construction Equipment Business
Titan Machinery said it has closed on the acquisition of St. Joseph Equipment’s construction equipment business. The acquisition consists of four construction equipment locations in Shakopee, Hermantown and Elk River, Minnesota, and La Crosse, Wisconsin.
Read more...Date Posted June 1, 2011
Caterpillar Opens Singapore Remanufacturing Facility
Caterpillar announced the opening of a new remanufacturing facility in Singapore that will serve as the regional source for remanufactured major components for large off-highway trucks and other mining equipment.
Read more...Date Posted May 24, 2011
EBRD Supports Deere’s Russian Leasing Venture
According to a Reuters report, the European Bank for Reconstruction and Development has provided U.S. farm equipment maker Deere & Co. a loan of $168 million to support its newly launched leasing venture in Russia.
Read more...Date Posted May 20, 2011
Caterpillar Reports Dealer Sales Up 66% Past Three Months
Caterpillar reported that worldwide dealer sales of the company’s construction equipment surged 66% in the three months to the end of April. The company attributed sales growth in North America to machinery replacement and rental fleet updates.
Read more...Date Posted May 20, 2011
Deere Reports Farm & Construction Equipment Demand Increasing
Deere & Co. reported net income was up 65% in the quarter through April as sales of farm machinery increased and shipments of construction equipment move higher in spite of lingering weakness in the residential and commercial construction sectors.
Read more...Date Posted May 18, 2011
Direct Capital, Equipment Marketplace Mascus Enter Partnership
Direct Capital said it has entered an exclusive financing partnership with Mascus.com, a leading worldwide marketplace for used heavy equipment. Mascus will feature Direct Capital’s services on all of its heavy equipment listings.
Read more...Date Posted May 10, 2011
Essex Rental Reports Crawler Crane Utilization Improvement
Essex Rental said revenue for the first quarter 2011 rose to $10.4 million from $5.1 million for the same year-ago quarter. The company noted crawler crane utilization for the quarter improved to 42.8% compared to 30.0% in the comparable period in 2010.
Read more...Date Posted May 10, 2011
Auction Site IndustrialSAVER Increases Heavy Equipment Offerings
Online auction site IndustrialSAVER.com announced it dramatically increased its offerings for new and used heavy machinery and equipment.
Read more...Date Posted May 9, 2011
EU Approves Caterpillar Acquisition of Bucyrus
The European Commission announced it has cleared the proposed acquisition of mining equipment maker Bucyrus by Caterpillar. The EU said neither company is viewed as each other’s closest competitors and several other large players will remain in the market.
Read more...Date Posted May 5, 2011
Caterpillar Reports 71% Increase in Construction Equipment Sales
Caterpillar said construction industries’ sales were $4.47 billion in the first quarter of 2011, up 71% compared to the same year-ago quarter. The machinery maker also raised its outlook for 2011.
Read more...Date Posted April 29, 2011
GE Capital: Construction Equipment Orders Highest Since Q3/08
GE Capital’s latest Industry Research Monitor for the first quarter 2011 notes that new construction equipment orders continued to improve in the fourth quarter and were at the highest levels since the third quarter 2008.
Read more...Date Posted April 18, 2011
Used Construction Equipment Values Rise in February
Rouse Asset Services notes in a recent newsletter that used construction equipment values were up 3% sequentially in February and 7.5% for the six-month period ended February 28, 2011.
Read more...Date Posted April 4, 2011
Construction Equipment Manufacturers See Rebounding Demand
Bloomberg reported that Caterpillar, Komatsu and Volvo are saying North American construction equipment demand is rebounding from the slump that followed the financial crisis.
Read more...Date Posted March 25, 2011
Manitowoc Launches Partnership Program for U.S. Dealers
Manitowoc said it has launched EnCore Partners, a major new program for dealers across the U.S. Under the partnership, dealers will receive commercial, technical and retail financing support from Manitowoc Crane Care and Manitowoc Finance.
Read more...Date Posted March 10, 2011
Wells Fargo EF Survey: CE Dealer, Contractor Optimism Rising
According to a recently released Wells Fargo Construction Equipment Finance Q1-2011 Construction Industry Survey, the Construction Optimism Quotient going into 2011 is a modestly positive 96. This is a marked improvement over the 2010 score of 66 and the all-time low score of 42 recorded for 2009. The survey said the results show that after [...]
Read more...Date Posted February 7, 2011
