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Business: Page 109
Business
Doosan to take Bobcat public on South Korean stock market
Earlier this week, Doosan announced that it would begin selling shares in Bobcat on the South Korean Stock Market later this year as part of an initial public offering. According to a report from Reuters, the IPO could value Doosan Bobcat, the Doosan Infracore subsidiary which controls the Bobcat Company, at more than $2 billion. The […]
February 26, 2016
Business
John Deere sales continue to fall as profit is cut by 40% in 1Q
John Deere saw sales decline and a sharp cut in profit for the first quarter, and in response the company has adjusted downward its outlook for the full fiscal year. Deere reported 1Q sales of $5.5 billion, down 13 percent from the same period last year. Profit fell 40 percent to $254.4 million. The global farming […]
February 25, 2016
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February 1, 2026
Roadbuilding
California lowers gas tax by 2.2 cents per gallon
While states like Missouri, Alabama and Mississippi are considering raising their gas taxes to better fund infrastructure, California’s tax board recently decided that its residents paid too much for gas last year, and will give them a break at the pump. The Associated Press reported that the California Board of Equalization voted 3-2 Tuesday to lower the […]
February 25, 2016
Business
Another Caterpillar VP retires with company’s consolidation of Electric, Marine power divisions
Caterpillar announced today the retirement of another vice president as the company continues implementing changes associated with its sweeping cost reduction plan. Electric Power Division VP Steve Niehaus has “elected to retire,” according to a Cat release, following a 27-year career with the company. He served as VP of the Electric Power Division for the […]
February 24, 2016
Business
How this Utah contractor went from the aquarium business to building a construction company
The look of the family business has changed a great deal for the Fellers of St. George, Utah. But since 1980 there has been one constant: rock. Allen Feller started Feller Stone with his brother in 1980, quarrying and gathering rocks the world over and selling them to aquarium suppliers. “My dad was a stonemason […]
February 24, 2016
Business
Ritchie Bros. buys online equipment listing service Mascus
Heavy equipment auctioneer Ritchie Bros. has acquired online equipment listing service Mascus in an all-cash deal. Ritchie Bros. says it has paid €24.0 million ($26.6 million) for 100 percent equity in Mascus and will pay up to €3.4 million ($3.8 million) more should certain performance targets be met by Mascus over the next three years. Mascus will continue […]
February 23, 2016
Business
ARA’s Rental Penetration Index down slightly in 2015 despite “robust” non-residential market
The American Rental Association’s Rental Penetration Index, which has been on a steep incline in the past five years, saw its first downward movement in 2015, says ARA. The decrease was slight, however, going from 53.9 percent in 2014 to 52.9 percent in 2015. The index—which measures the share of the U.S. construction equipment fleet […]
February 22, 2016
Business
U.S. home starts fall 3.8% in January as builders remain conflicted about market’s prospects
U.S. home starts fell for a second consecutive month in January as builder confidence in the market continued its decline. Construction on new homes fell 3.8 percent in January to a seasonally adjusted annual rate of 1.143 million, according to preliminary data from the Commerce Department. That rate is 1.8 percent above the January 2015 figure. […]
February 17, 2016
Roadbuilding
USDOT $98.1 billion fiscal year 2017 budget includes clean transportation, autonomous vehicle pilot funds
Transportation Secretary Anthony Foxx has announced President Obama’s $98.1 billion fiscal year 2017 budget for the U.S. Department of Transportation, a plan that includes clean transportation and autonomous vehicle pilot programs in addition to other traditional programs. “Meeting future challenges will require a long-term vision for the transportation sector that includes more and cleaner options, […]
February 11, 2016
Roadbuilding
NAPA names Walsh & Kelly President Kevin Kelly as 2016 chairman
Kevin Kelly, president and CEO of Indiana-based paving contractor Walsh & Kelly, took over as chairman of the National Asphalt Pavement Association (NAPA) at the group’s 61st annual meeting in La Quinta, California. Walsh & Kelly operate five permanent asphalt plants and provides services including excavation, grading and paving in northern Indiana. Kelly has served […]
February 10, 2016
Business
Volvo CE doubles operating income in 2015 despite sales decline
Despite a decrease in sales during 2015, Volvo Construction Equipment managed a huge improvement in operating income for the year thanks to market share gains and strong performance in North America and Europe. The company reported fourth quarter sales of SEK 11 billion ($1.3 billion), down 11 percent from the same period last year. Operating […]
February 9, 2016
Business
Construction adds 28,000 jobs in January
The U.S. construction industry continued its streak of employment gains in January, adding 28,000 jobs. The industry now employs 6.615 million Americans, the highest total since December 2008’s total of 6.701 million, according to preliminary data from the Labor Department. Construction employment has been on the rise for 10 straight months. The latest data also […]
February 8, 2016
Roadbuilding
Obama proposes $10-per-barrel tax on oil production to fund green infrastructure
President Barack Obama is aiming to implement more measures to combat climate change, and this time he’s eyeing oil companies to foot the bill. The Hill reported that the White House announced Obama will propose with his budget request next week a $10-per-barrel fee on oil production in order to fund a new $32.4 billion per-year “green transportation plan.” The plan […]
February 4, 2016
Business
CNH Industrial sales drop 20% in 2015 as profit is cut in half
An expanding European truck market was the lone bright spot in CNH Industrial’s full-year earnings report for 2015 as sales across each of the company’s segments fell. The company, manufacturer of the Case and New Holland brands of have equipment, reported fourth quarter sales of $7.1 billion, down 15 percent from the previous year. However, profit […]
February 3, 2016
Roadbuilding
Stockpile Reports launches bin and bunker measurement for stockpiled materials via iPhone, drone
Stockpile Reports announced at World of Concrete it now supports measurement capabilities for stockpiled materials, such as salt, gravel and sand, in bins and bunkers using an iPhone, drone or airplane. Current methods involve using a walking wheel, counting bunker wall blocks and estimates from truckload sizes. “Our subscribers requested this from our team in […]
February 3, 2016
Business
PCA, Wells Fargo 2016 construction forecasts: positives outweigh negatives
Two construction activity forecasts issued today cite positive short term outlooks, while indicating concerns for long-term sustained growth. PCA will likely adjust its fall forecast to “at most” a 5 percent growth in cement consumption in 2016, a revision that will take into account the recently-passed FAST highway funding bill and the continuing downward spiral […]
February 2, 2016
Business
Chinese, mining demand drags down Komatsu sales as profit falls 11% in first 9 months of the year
Komatsu says its sales are brisk in North America but continued difficulty with slack demand for equipment from Chinese customers and customers in the mining industry continue to drag down the company’s bottom line. The company reports sales of 1.37 trillion yen ($11.3 billion) for the first nine months of the fiscal year, which ends March 31. Sales are […]
February 2, 2016
Business
Construction spending jumps 10% to 8-year high in 2015
Gains in homebuilding edged out losses in nonresidential spending, propelling total U.S. construction spending to an eight-year high in December. Total spending rose 0.1 percent during the month to $1.1 trillion, according to preliminary data from the Commerce Department. The total represents a 10.5-percent jump 2014 total and the largest amount of activity in the industry since […]
February 2, 2016
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