Business Roundup: Superior expands General Equipment partnership; Deutz spreads Power Centers; Largest Cat dealer transaction; United Rentals buys Cummins power assets; Deere income soars
Don McLoud | September 12, 2017

Superior expands partnership with General Equipment in Neb., Iowa

General Equipment & Supplies, a Midwestern distributor of aggregate and construction equipment, has become an exclusive dealer for Superior Industries in Iowa and Nebraska.

Superior has maintained a longtime partnership with General Equipment for selling and servicing its conveying equipment throughout the Upper Midwest. The expanded partnership means the distributor will also exclusively represent Superior’s crushing, vibratory and washing equipment in the two states.

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Deutz spreads Power Center concept to Southeast

Deutz has turned its South Carolina location into its second Power Center, a new concept designed to expand the engine maker’s offerings beyond its service centers.

The Deutz Power Center Southeast is the new name for the former Deutz Carolinas service center, which underwent rebranding this year. The announcement follows the opening last October of the company’s first power center, in North Kansas City, Missouri, for the Midwest.

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Canada’s Tormont tenders largest Cat dealer transaction in Hewitt acquisition

Calling it the largest Caterpillar dealer transaction ever, Toromont Industries of Canada has offered to purchase Hewitt Equipment, also of Canada, to create one of the largest dealerships in the Cat network.

The deal, valued at 1.02 billion Canadian dollars, or about $814 million U.S., would allow Tormont to expand to 120 branches in Nunavut, Manitoba, Ontario, Quebec, New Brunswick, Prince Edward Island, Nova Scotia and Newfoundland & Labrador. The deal is expected to close in mid-October, pending regulatory approval.

Read the full story here.

 

United Rentals buys power equipment assets from Cummins

Following the announcement last month of its plans to purchase of Neff Corporation, United Rentals says it has bought power equipment assets from Cummins, with service and equipment available immediately.

The purchase gives the company Cummins’ mobile rental generator fleet made up of equipment with output ranging from 150 Kilowatts to 2 Megawatts. Cummins will continue to manufacture, service and support new power generation equipment for rental markets.

Read the full story here.

 

Deere Q3 net income soars 31%, construction/forestry sales up 29%

Deere & Company net income for the third quarter of fiscal 2017 increased 31.3 percent, compared to the same period last year, to reach $641.8 million, while construction and forestry division sales increased 29 percent.

Total worldwide net sales and revenues increased 16 percent to $7.8 billion for the quarter compared to Q3 2016, with net sales of the equipment operations reaching $6.8 billion, an increase of 16.6 percent.

Read the full story here.

 

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