Business Roundup: Cat to close Waco plant; Construction execs predict ‘best year ever’; Herc Rentals revenue up 16%; Kubota adds Mo.’s Farm Shop; Yancey Bros. to carry Thunder Creek; AEM names Kubota’s Stucke treasurer

Updated Mar 6, 2018

Kubota’s Stucke elected 2018 treasurer for AEM

Todd Stucke, senior vice president of marketing, product support, and strategic projects for Kubota Tractor Corporation, has been elected 2018 Treasurer of the Association of Equipment Manufacturers (AEM).

Stucke has served on the AEM board since 2014. He’s an industry veteran with more than 25 years of experience. He’s responsible for ensuring that Kubota’s marketing, product support, dealer infrastructure and special projects give excellent service to customers.

“I am honored to serve alongside so many talented industry leaders in this capacity,” says Stucke. “Together we’ll work to conquer the global challenges that face our industry, and I’m confident that with our collective experience and commitment, we will achieve success.”

 

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Yancey Bros. to carry Thunder Creek products in Ga.

Thunder Creek equipment, makers of fuel, diesel exhaust fluid (DEF) and service products, has signed on Yancey Bros. as a distributor in Georgia.

Yancey, the nation’s oldest Caterpillar dealer, will sell and service Thunder Creek’s full line of products, including its Multi-Tank Trailers (MTTs) and Service and Lube Trailers (SLTs).

 

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Signing up with Kubota, The Farm Shop of Mo. takes first step to serve contractors, too

At The Farm Shop in Edina, Missouri, co-owner Alan Dixson was waiting Friday for his first Kubota sign to arrive so he could put it up.

But the word was out in these parts of Northeast Missouri, and customers were already stopping by the store to price the first wave of Kubota machines at The Farm Shop.

Dixson and fellow owner Jim Hamm have been longtime AGCO and Massey dealers for farm equipment. These days, they’re busy adding their new Kubota line of skid steers. The additions represent the first step of this dealership’s expansion into serving construction contractors, in addition to the farmers who have long been their customers.

 

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Herc Rentals sees 16% jump in equipment revenue in 4Q

Reflecting double-digit growth across all regions, Herc Holdings is reporting a 16.2-percent jump in equipment rental revenue for the fourth quarter of 2017, compared to FY16.

Equipment rental revenue climbed to $414.5 million in the fourth quarter of 2017 – up from $356.7 million.

Total revenues were $491.7 million in the fourth quarter of 2017, compared to $405.2 million for the same period the year before.

“Our strong fourth quarter and full year 2017 results reflect the ongoing implementation of our strategic initiatives,” says Larry Silber, president and CEO.

 

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Construction execs predict 2018 could be ‘best year ever’; most dealers expect equipment sales to increase

Many contractors and equipment distributors anticipate increases for both residential and nonresidential construction activity for the latter half of 2018 – as well as greater profitability, according to a new survey.

The construction industry executives are more optimistic about nonresidential construction activity than they have been since the 21st Century, according to the nationwide survey released today by Wells Fargo Equipment Finance.

“This is the highest optimism we have recorded in the last 20 years, so that in and of itself is really good news,” says John Crum, senior vice president and national sales manager, Construction Group, Wells Fargo Equipment Finance.

“All signs are pointing up” for the rest of this year, according to Crum in an Equipment World interview.

 

 

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Cat to close Waco Work Tools plant, cut 200 jobs

With the better part of a year and a few consecutive positive earnings reports since the company had closed a facility or eliminated jobs, it seemed like Cat may be through with cuts associated with a massive cost reduction plan announced in 2015. However, the company has decided that it will close its Work Tools manufacturing facility in Waco, Texas, eliminating 200 jobs.

According to a report from the Waco Tribune-Herald, Cat spokesman Jamie Fox said the closing of the Work Tools plant will not affect the company’s distribution center in Waco. The Work Tools plant manufactures excavator buckets, couplers and hammers and these operations will be transferred to a Cat facility in Wamego, Kansas, Fox told the paper.

Fox said the move was not dictated by waning demand for the attachments produced at the Waco facility. He added that “employees who lose their jobs will receive severance packages,” the paper reports.

 

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