Business Roundup: VW exec hints at Navistar takeover; United Rentals Q1 results; Double-drum compactor sales; Kitoti starts brand awareness push; Epiroc launches new website

Epiroc continues Atlas Copco split with launch of new website

Atlas Copco subsidiary Epiroc has a new U.S. website geared toward hydraulic-attachment, mining, infrastructure and natural-resources customers:

The Sweden-based Epiroc, which began operating as an independent company in December, offers all of the hydraulic attachments for excavators, wheel loaders, backhoes and skid steers, such as breakers, compactors, buckets and grapples, once under Atlas Copco and Chicago Pneumatic brand names.

Epiroc also offers drill rigs; underground loaders, haulers and dumpers; mechanical rock excavation equipment; raiseboring equipment; rock drilling tools; rock reinforcement and ventilation systems. Meanwhile, Atlas Copco will focus on industrial customers, which includes such products as air compressors, generators and vacuums.


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Kioti Tractor gearing up for brand awareness push

Kioti Tractor, which has supplied compact utility tractors to U.S. and Canadian markets for more than 30 years, has selected a new creative partner, Baldwin&, as part of its strategic focus on growth and excellence in the industry.

An independent, full-service advertising agency, Baldwin& is responsible for media, creative and strategy, and will partner with Eckel & Vaughan for media relations.

The boost in brand marketing efforts could pay off for Kioti dealers, too.

“Kioti’s dedication to quality and customer satisfaction is the cornerstone of its success,” says Baldwin& CEO David Baldwin. “We’re eager to continue building this great brand.”


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INFOGRAPHIC: Double-drum compactor sales and buyer trends

A snapshot of new and used sales trends from Randall-Reilly’s Equipment Data Associates and TopBid auction price service.


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United Rentals reports 25% leap in revenue in Q1

Reflecting strong industry growth and acquisitions, United Rentals is reporting a 25.1 percent jump in rental revenue for the first quarter of 2018, compared to a year ago.

Total revenue was $1.734 billion and rental revenue was $1.459 billion for the first quarter for the rental giant. That’s compared to $1.356 billion and $1.166 billion, respectively, for the same period last year.
Within rental revenue, the company says, owned-equipment rental revenue jumped 25.4 percent. That reflects increases of 26.1 percent in the volume of equipment on rent, and 1.9 percent in rental rates.

“We reported a good start to the year, with both rates and volumes benefiting from broad-based demand,” says CEO Michael Kneeland. “Our specialty segment continued to outperform, aided by strong market growth and cross-selling opportunities, and trends remained positive in Canada.”


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Volkswagen exec hints at Navistar takeover

Barely more than 13 months ago, Volkswagen Truck and Bus acquired approximately 16.2 million newly issued shares of Navistar stock for $256 million, and one high-level executive hinted this morning the German automaker could one day be after a large slice.

At a recent press briefing, VW Truck and Bus Chief Finance Officer Matthias Gruendler said a takeover of the Lisle, Illinois-based truck maker “would make sense at some point,” according to Reuters. “The cooperation is working really well.”

While Gruendler offered no timeline, and such a move certainly doesn’t sound imminent, Volkswagen would be legally required to make an offer for the remaining Navistar shares once it acquires 17 percent or more of the company. Volkswagen currently teeters just below that threshold at 16.9 percent.


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