Business Roundup: Ritchie Bros. cleared for IronPlanet purchase; OSHA injury reporting rule suspended; Finning Q1 earnings; Takeuchi adds Kirby-Smith; Digga partners with Berlon

DOL suspends OSHA rule requiring companies electronically report injuries and illnesses

The Department of Labor has suspended an Occupational Safety and Health Administration (OSHA) rule requiring companies to electronically report injury and illness records, which keeps the records from being publicly disclosed, The Washington Post reports.

The rule, which took effect Jan. 1, requires employers to send in their summary data electronically by July 1, but OSHA never launched the website where companies were to submit the information, and it posted language on May 17 saying it “is not accepting electronic submissions of injury and illness logs at this time, and intends to propose extending the July 1, 2017 date by which certain employers are required to submit the information.”

OSHA spokeswoman Mandy Kraft told reporters that the agency delayed the rule to address employers’ “concerns about meeting their reporting obligations” in time.

Read the full story here.

 

Finning International Q1 2017 revenue down, but earnings up dramatically

Finning International, the Vancouver-based parent company of Finning Cat, the world’s largest Caterpillar dealer, reports a 6 percent decrease in revenue for the first quarter of 2017, but a 37 percent increase in earnings before interest, tax, depreciation and amortization (EBITDA) compared to the same period in 2016.

Net income fared even better, with a 218 percent increase to $47 million (Canadian) and earnings per share of $0.28, compared to $0.09 in 2016.

“Our first quarter results provide a solid start to the year, reflecting strong execution to advance our operational priorities and the positive impact of a reduced cost base across our operations. While total revenues declined from last year, product support increased and profitability improved,” says Scott Thomson, president and CEO of Finning International.

Read the full story here.

 

Takeuchi adds Kirby-Smith Machinery to dealer network for Oklahoma, Texas

Takeuchi-US has added Kirby-Smith Machinery, headquartered in Oklahoma City, to its dealer network to provide coverage in Oklahoma and Texas.

The company’s products will be available at six of the dealer’s 10 locations, including Oklahoma City and Tulsa in Oklahoma, and Lubbock, Odessa, Amarillo and Abilene in Texas.

“Takeuchi has a great product line and our customers will appreciate how they fully stand behind it,” says Ed Kirby, president of Kirby-Smith. “Their compact equipment opens up a new market for us that we were missing with landscapers and small utility contractors among others. We already have a lot of interest from customers and are looking forward to working with Takeuchi.”

Read the full story here.

 

Digga North America, Berlon Industries partner on product sales

Digga North America has partnered with Berlon Industries on a sales representation agreement whereby Berlon will sell the company’s auger drives, trenchers and other products used on mini loaders, skid steers, small backhoes and mini excavators.

Berlon will provide coverage in Illinois, Iowa, Minnesota and Wisconsin.

“Berlon has a solid dealer network. Adding Digga’s quality auger drives and trenchers to our extensive lineup of buckets and attachments is a perfect fit and aligns with well our overall strategy,” says Berlon President and CEO Mike Ebben.

Read the full story here.

 

Cleared for IronPlanet purchase, Ritchie Bros. CEO talks people, Cat alliance, impact

The U.S. Department of Justice’s Antitrust Division has cleared Ritchie Bros.’ proposed purchase of IronPlanet announced last August. The estimated $758.5 million purchase sets the stage for potential combined online sales of $3 billion annually.

The acquisition could close “in the next few weeks” with a new organization structure announced following. Ritchie Bros. CEO Ravi Saligram will lead the combined companies.

“The management team and employees of IronPlanet are enthusiastic about joining forces with Ritchie Bros.—the possibilities are endless when you merge brand strength with technology,” says IronPlanet Chairman and CEO Greg Owens. “We are inspired by the vision of leading a digital transformation in the industry.”

Read the full story here.