Business Roundup: ARDCO opens La. dealership; Deere, JLG, Volvo, Cat parts initiatives; Hyundai spins off Construction Equipment; Home starts fall; Finley Asphalt buys Mid-Atlantic Paving; Fox-Marrs new JCB N.A. CEO

ARDCO Equipment opens new site in Louisiana, representing Yanmar, Prinoth, Pettibone, Barko

ARDCO Equipment has opened a new dealership location in New Iberia, Louisiana, to serve customers in Louisiana and Texas with multiple lines of equipment for the oil and gas, construction, agriculture, utility, forestry and material handling industries.

“ARDCO has a storied history as a Louisiana equipment manufacturer since 1955,” says David Langley, director of business development and operations for ARDCO Equipment. “We have also operated our own rental fleet for years, and the timing was right to take the next step and become a full-service dealer to meet all of our customers’ needs.”

Read the full story here.

 

Deere, JLG, Volvo, Cat announce parts initiatives at ConExpo

It’s no secret that most of a dealer’s revenue comes from parts and service. Knowing this, several manufacturers used ConExpo 2017 to announce parts initiatives.

Read the overview of these initiatives here.

 

Hyundai spins off Construction Equipment division as new company

Hyundai Heavy Industries announced Wednesday that it has spun off its Construction Equipment division as a new company, Hyundai Construction Equipment Co., Ltd.

The spin off took effect April 1st and is based on a restructuring plan that Hyundai reports began last year. The company says the move “offers great possibilities and improved agility.”

Parent company Hyundai Heavy Industries adds that it will be able to “make independent decisions in the interest of the industries and markets worldwide,” adding that “despite the fact the new company is named Hyundai Construction Equipment we emphasize that both Forklift and Construction Equipment are equally managed with the same goal to grow market share.

Read the full story here.

 

U.S. home starts fall 6.2% in March

Construction on new homes in the U.S. fell in March with declines ing both single- and multi-family starts.

Total home starts fell 6.8 percent to a seasonally-adjusted annual rate of 1.215 million, according to preliminary data from the Commerce Department. Total starts remain 9.2 percent above the March 2016 figure.

Single-family starts fell 6.2 percent to a rate of 821,000 while multi-family starts fell 6.1 percent to a rate of 385,000. Those rates remain up 9.3 and 9.1 percent, respectively, over their year-ago figures.

Read the full story here.

 

Finley Asphalt purchases Mid-Atlantic Paving & Sealing

Finley Asphalt & Concrete, based in Virginia, has purchased Mid-Atlantic Paving & Sealing, a move that extends Finley’s service area from Baltimore, Maryland, to Richmond, Virginia.

This is Finley’s first acquisition in its 52-year history. It was founded in Fairfax, Virginia, in 1965 by Lonnie Finley. Eric and Lewis Finley took over in 1990 and expanded the company to more than 160 employees.

Robert. B. Osburn Jr. started Mid-Atlantic began in 1986 in Richmond. “This merger brings two great companies together to provide much more for our combined lists of clients . . . our Mid-Atlantic customers will surely benefit,” says Ann Kramer Stinchcom, Osburn’s daughter and project manager, who will stay on as a project manager with Finley.

Read the full story here.

 

Fox-Marrs replaces Mirdha as JCB North America CEO in apparent leadership shake-up

Three years after being elevated to the position, Arjun Mirdha is out as president and CEO of JCB North America (JCBNA) in favor of another company veteran.

Richard Fox-Marrs has left his role as president of JCB North America’s Agriculture division to replace Mirdha. In the company’s announcement of Fox-Marrs’s promotion, Mirdha is not mentioned. According to a report from the Savannah Morning News, JCB representatives would only say Mirdha is “pursuing other opportunities.”

Mirdha was with the company for 20 years. And he might not be the the only member of JCBNA’s current leadership to depart. In response to the Morning News asking if more leadership changes could be expected, JCB said it would be making “future announcements… as the company focuses on ‘minimizing impacts to business and ensuring the highest levels of customer service.’”

Read the full story here.