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Business: Page 101
Business
Construction jobs flat in June, but unemployment rate continues to fall
Following two consecutive months of jobs losses, employment in the U.S. construction industry was flat in June. Employment held steady at 6.643 million Americans last month, according to preliminary data from the Labor Department. The department’s latest data also revised the May employment total from the previously reported 6.645 million, down to 6.643 million, bringing the […]
July 8, 2016
Dealers
Bandit Industries taps Mocny as its first CEO
Bandit Industries, makers of chippers, grinders, mulchers and skid steer/compact track loader attachments, has named its first CEO in John Mocny. Mocny has been with Bandit since February after serving in engineering and management capacities with General Motors and Caterpillar. Moving forward, owners Mike, Dianne and Jerry Morey say they will remain involved with the […]
July 7, 2016
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August 4, 2025
Roadbuilding
Roadtec president Jeffery Lee Richmond Sr. passes away at age 60
Jeffery Lee Richmond Sr., president of Roadtec Inc., a subsidiary of Astec Industries Inc., passed away June 30 while on a family vacation in Charleston, South Carolina. He was 60. Richmond had served with Roadtec since 1996, holding the positions of sales manager, vice president of sales and marketing and vice president and general manager […]
July 7, 2016
Dealers
Doosan files for Bobcat IPO on South Korean stock market
Parent company Doosan Infracore has filed the paperwork needed to take compact machine maker Bobcat public on the Korean Exchange. According to a report from Reuters, Doosan applied for the initial public offering Monday. Doosan, which owns 66.6 percent of all Doosan Bobcat shares, first announced its intent to take the company public in February. At […]
July 6, 2016
Business
Construction spending falls 0.8% in May
With declines in nonresidential spending and a flat month for residential, total U.S. construction spending fell 0.8 percent in May, according to preliminary data from the Commerce Department. Spending is at a seasonally adjusted annual rate of $1.143 trillion. Despite two consecutive months of monthly declines, spending remains 2.8 percent above the May 2015 rate. […]
July 6, 2016
Dealers
Hertz Equipment Rentals is now Herc Rentals following spin-off
Hertz Equipment Rental Corporation said it expected to complete its metamorphosis into Herc Rentals today, July 1st, officially separating from Hertz Global Holdings. In materials prepared for investors and available on its website, hercrentals.com, Herc Rentals estimates its 2015 North American market share was 4 percent, compared with United Rentals at 13 percent and Sunbelt Rentals […]
July 1, 2016
Dealers
Wacker Neuson to build new plant in China
After building and selling construction equipment in China for more than 20 years, Wacker Neuson has announced that it plans to build a new plant located near Shanghai in Pinghu, Zhejiang Province. In an announcement, the company says the plant will initially build compact excavators for the local market with plans to produce further products […]
June 24, 2016
Dealers
Walsh JCB expands parts/service, Hyundai CE adds 4 locations in the latest Dealer and Manufacturing News Roundup
Walsh JCB expands parts and service department Walsh JCB, Prospect, Pennsylvania, has expanded its parts and service department, adding 11,000 square feet to its Prospect facility. The company also has a branch location in Lilly, Pennsylvania. Founded in 1932, the company represents Lee Boy, Rosco and Schwarze equipment in addition to JCB. Hyundai adds four […]
June 23, 2016
Dealers
Yanmar acquires Terex’s compact construction equipment business
Terex announced today that it has agreed to sell its German compact construction business to Yanmar. The deal is for $60 million cash and is expected to close in the second half of this year. Terex’s compact construction business makes and sells midi/mini excavators, wheeled excavators and compact wheel loaders. As part of the deal, […]
June 21, 2016
Business
Home starts down slightly in May but builders have optimistic outlook
Starts on new homes in the U.S. were down 0.3 percent in May from the previous month despite gains in both single- and multi-family homes. Total starts fell to a seasonally adjusted annual rate of 1.164 million in May but remain up 9.5 percent over the May 2015 mark. Single-family home starts rose 0.3 percent […]
June 17, 2016
Business
Liebherr reorganizes U.S. businesses under new umbrella company
German heavy equipment manufacturer Liebherr has announced that it will transition its current U.S.-based operations into a mixed-sales company called Liebherr USA. The reorganization went into affect June 1. A team of three managing directors will helm the company: Torben Reher; Peter Mayr, head of the Liebherr Construction Equipment division; and Daniel Pitzer, head of the […]
June 3, 2016
Business
U.S. construction equipment exports fall 25% in 1Q
Exports of U.S.-made construction equipment declined 25 percent overall for the first quarter of 2016, compared to the same period last year, according to the Association of Equipment Manufacturers. A total of $2.7 billion in equipment was shipped during the quarter, with the African and South American markets each down nearly 50 percent. On the […]
June 2, 2016
Business
Construction spending falls 1.8% in April
Monthly declines in both residential and nonresidential construction led to a 1.8-percent decrease in U.S. construction spending during April. Spending is at a seasonally adjusted annual rate of $1.134 trillion and remains up 4.5 percent from the April 2015 rate, according to preliminary data from the Commerce Department. Total residential spending fell 1.5 percent to $445 […]
June 1, 2016
Business
No Deal: Zoomlion withdraws acquisition offer following Terex MHPS sale to Konecranes
Less than two weeks after Terex walked away from a merger with Finnish equipment manufacturer Konecranes to further pursue acquisition talks with Chinese OEM Zoomlion, Zoomlion has withdrawn its offer. After announcing what appeared to a be done deal last fall with Konecranes, Terex officially walked away from the merger earlier this month after receiving an […]
May 31, 2016
Contractor of the Year
Inspired by father, Nebraska contractor built his company into an American Dream
The TCW in TCW Construction stands for “Tony’s Cement Works,” a tribute to the company started by Joe Delgado’s father, Lorenzo (Tony) Delgado. “We use his wheelbarrow logo to this day,” says Delgado, president of the Lincoln, Nebraska firm. In true American dream fashion, however, the son’s company has far eclipsed what his father started. […]
May 30, 2016
Business
IronPlanet taps Ackley, formerly of eBay and Google, as new CMO
A veteran of web and e-commerce development with stints at giants such as Google and eBay on his resume has joined the leadership team at IronPlanet. The online heavy equipment auctioneer has hired Matt Ackley as its new senior vice president and chief marketing officer. In his new role at IronPlanet, Ackley will be in charge of all marketing […]
May 26, 2016
Business
Go Build Tennessee seeks to replenish state’s aging construction workforce
Nearly one year after signing the Go Build Tennessee Act into law, Gov. Bill Haslam last week launched the statewide construction workforce recruiting program the bill will fund. With a stated goal of “inspiring young people to consider a career in the skilled trades,” Go Build Tennessee will receive more than $2 million in funding from excess […]
May 25, 2016
Business
Home starts up in April but down year over year due to multi-family drop
U.S. home starts grew by 6.6 percent during April on gains from both single- and multi-family units, but the year-over-year count is down due to starts on apartments dropping from the April 2015 figure. Total starts increased in April to a seasonally-adjusted annual rate of 1.172 million. That figure is down 1.7 percent from the April 2015 figure. […]
May 24, 2016
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