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Business: Page 116
Business
Despite slight dip in profit during first 6 months, Komatsu revises full-year forecast upward on “brisk” equipment sales
Sales and operating income at Komatsu are up during the first six months of the company’s fiscal year, but the increases weren’t enough to stave off a slight dip in profit. The Japanese heavy equipment manufacturer reported sales of $8.3 billion (942.5 billion Japanese Yen), during the first half of fiscal year 2o14, which ends […]
November 3, 2014
Business
Construction spending falls 0.4% in September due to dip in government projects
Construction spending in the U.S. fell for a second consecutive month in September, dipping 0.4 percent. According to preliminary estimates from the Commerce Department, spending was at a seasonally adjusted annual rate of $951 billion in September. In addition to the dip in September, the report revised downward the rates for the previous two months as […]
November 3, 2014
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February 1, 2025
Business
Kobelco opens new North American headquarters in Texas
As a result of expected rapid growth in their sale of excavators in North America, Kobelco Construction Machinery has opened a new corporate headquarters in Katy, Texas. Designed to service dealers and customers in the United States, Canada and Latin America, the location features parts warehousing capabilities including a floor plan and racking configuration that […]
November 3, 2014
Business
Terex sells 51% of ASV to Manitex, resulting in skid steer, compact track loader joint venture
Terex is selling 51 percent of ASV to Manitex International, resulting in a joint venture that is 51 percent owned by Manitex and 49 percent owned by Terex. The joint venture will manufacture skid steers and compact track loaders. According to Terex, after the agreement is finalized, ASV will continue to sell its skid steers […]
November 3, 2014
Business
Terex profit falls 30% in 3Q, reduces expectation for full-year earnings
Despite a slight sales boost, equipment manufacturer Terex saw earnings fall during the third quarter and has reduced its earnings forecast for the full year. Sales were up 3 percent over the same quarter last year to $1.8 billion, mainly due to the continued success of the company’s aerial work platforms (AWP) segment and a […]
November 2, 2014
Business
When the Marcellus Shale provided the opportunity, West Virginia contractor Dwaine Doss was ready
Most contractors understand you don’t waste daylight. But by the time the sun breaks over the mountains of central West Virginia, Dwaine Doss has already put in hours of work. When your customers are the top dogs drilling for gas in the Marcellus Shale, starting time is typically 4:30 a.m. Quitting time? Don’t ask. Long […]
November 1, 2014
Dealers
Quick Data: New and used grader sales for November 2014
November 1, 2014
Business
Turnaround in construction equipment sales lone 3Q highlight as CNH Industrial profit plummets 113%
Following a second quarter where profit increased despite sales declines, CNH Industrial did not fare nearly as well in the third, as sales and revenues fell again and profit has plummeted year-over-year. CNH Industrial, makers of the Case Construction and New Holland equipment brands, saw profit fall 113 percent during the third quarter from the […]
October 31, 2014
Business
Bomag will move Cedarapids, CMI equipment production to new South Carolina headquarters
In order to create what Bomag Americas president Walter Link called a “North American epicenter for operations,” the company has announced that it will also be transitioning the manufacturing of its Cedarapids asphalt paving and CMI reclamation/stabiliziation equipment to its new South Carolina headquarters. By the end of this year, the company will have transitioned […]
October 31, 2014
Business
Former DOT Sec. LaHood: “We need a big pot of money” to fix America’s roads and bridges
Continuing his “America is one big pothole” theme, former U.S. Department of Transportation Secretary Ray LaHood used an appearance at a Caterpillar press event Wednesday night to lambast the present direction of U.S. transportation policy. Calling the 2-year transportation bill passed in 2012 “chintzy,” LaHood called upon Congress to think as roads as economic corridors. […]
October 30, 2014
Business
Toro buys BOSS snowplows, salt and sand spreaders
Toro will buy the BOSS business of Northern Star Industries, based in Iron Mountain, Michigan. BOSS makes snowplows, salt and sand spreaders for light and medium duty trucks, ATVs, UTVs and loaders. Michael J. Hoffman, Toro chairman and CEO says the BOSS line will be added to Toro’s existing professional contractor businesses. “We’ve long been […]
October 29, 2014
Business
Volvo CE earnings jump 31% during 3Q despite flat sales
Continued weak demand for construction equipment in China has negated sales gains in other parts of the world for the second-straight quarter at Volvo Construction Equipment. Despite the difficulties in Asia, the company’s positive earnings report for the third quarter Friday included a 31-percent gain in operating income to $89 million (SEK 648 million) over […]
October 24, 2014
Business
JCB to cut 150 jobs in UK due to decline in global demand
JCB has announced it is cutting 150 jobs, mostly at its headquarters in Staffordshire, England. According to a report from the BBC, CEO Graeme Macdonald said a “severe decline” in world markets are the reason for the job cuts. Some of the job cuts could also affect JCB offices in Wales and Derbyshire as well, the […]
October 23, 2014
Business
Caterpillar profit up 8% in 3Q, beats Wall Street expectations with slight uptick in sales
Caterpillar today announced an increase in both profit and sales during the third quarter, beating analyst expectations despite more declines in demand for mining equipment. The company announced profit of $1.017 billion, or $1.63 per share, an increase of 8 percent over third quarter 2013. Excluding $81 million in restructuring costs, profit would have been […]
October 23, 2014
Dealers
A new president at Pettibone; new locations for Takeuchi, Bomag, Trimble and more in this week’s Dealer News Roundup
Welcome to the Dealer News Roundup, your one-stop shop for all the moves going on inside the heavy equipment distributor industry. This week’s edition includes employee promotions and location expansions from several major manufacturers and. Pettibone names new president Pettibone-Heavy Equipment Group has named Scot Jenkins as the company’s new president, effective in October. Previously […]
October 22, 2014
Business
PHOTOS: JLG opens new customer training center, proving grounds
[imagebrowser id=138] Classes have begun at JLG Industries’ new $2.5 million customer training center and proving grounds in McConnellsburg, Pennsylvania. Quadrupling the size of the company’s original training facility, the expansion includes a 4-acre proving grounds course that will allow trainees to get experience operating lift and access equipment such as telehandlers, scissor lifts and […]
October 21, 2014
Business
Home starts rise 6.3% in September as homebuilder confidence falls back to earth
The month-to-month volatility of new U.S. housing starts continued in September, while homebuilder confidence in the market saw its first dip in four months. Following a 13-percent drop in August, construction on new homes in the U.S. rose 6.3 percent in September to a seasonally adjusted annual rate of 1.017 million, according to preliminary data […]
October 20, 2014
Business
With Prop 1, Texas may break the logjam, spur innovation in highway funding
In November, Texans will go to the polls and vote on Proposition 1, which, in a nutshell, proposes to take half the money from the state’s gas and oil revenues and direct it toward highway construction and maintenance. Everything in this bill is sure to please the construction industry. And everything I’ve read over the […]
October 14, 2014
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