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Business: Page 292
Business
John Deere donates skid steer to technical college
John Deere is doing its part to combat the growing shortage of trained equipment technicians in the construction industry by donating a new skid-steer loader to Wake Technical College in Raleigh, N.C. The skid steer will be torn down and rebuilt by students to help them learn the inner workings of the machine and how […]
December 29, 2004
Business
HCEA dedicates new archives building
The Historical Construction Equipment Association has a new building for its archives. The building was officially dedicated at a ceremony Nov. 19 and brings together all of the association’s records under one roof for the first time. The climate-controlled storage area will house records from more than 2,000 manufacturers of equipment and accessories including sales […]
December 28, 2004
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July 7, 2026
Business
Caterpillar to buy Chinese wheel loader manufacturer
Caterpillar has signed a definitive agreement to acquire Shandong SEM Machinery, a Chinese wheel loader manufacturer. Caterpillar says the acquisition is the latest step in a multi-year strategy introduced in 2003 to expand its presence in China. Under the agreement, Caterpillar will purchase a minority interest in SEM, with options to buy the remaining equity […]
December 20, 2004
Business
The steel crisis
In October 2003, when highway contractor Swank bid on a bridge project for the Pennsylvania Turnpike, the price of steel piling the company needed for the job was 16 cents per pound, delivered to the site. Swank ended up paying 26 cents per pound in March, and today the price is 31 cents per pound. […]
December 14, 2004
Business
Ingersoll-Rand appoints two officers
Ingersoll-Rand’s board of directors has named Barbara Santoro vice president of corporate governance and secretary and Barry Libenson vice president and chief information officer. Santoro joined Ingersoll-Rand as assistant general counsel in 1996, and assumed the additional role of assistant secretary in 2000. She was promoted to deputy general counsel, transactions, earlier this year. In […]
December 13, 2004
Business
Terex aligns business units, products into roadbuilding division
Terex has aligned several business units and product groups into Terex Roadbuilding. Terex CMI, Bid-Well, Terex Cifali, Terex Belgium, Terex Advance Mixers and Cedarapids Asphalt pavers will be affected by the new structure. Terex Roadbuilding will consist of four business units along with their engineering, sales and service groups. The asphalt plant group, led by […]
December 13, 2004
Business
LBX to use GPS tracking device from ATS
LBX, maker of Link-Belt equipment, has chosen ATS Asset Tracking to provide its vShepherd line of GPS products and services for LBX’s excavators. vShepherd merges Internet, cellular and global positioning technologies to form a system for asset protection, fleet management and theft recovery. LBX plans to install vShepherd in selct models within its leasing program. […]
December 13, 2004
Business
Terex buys Reedrill division of Metso
Terex has acquired Metso’s Reedrill division, which manufactures surface drilling equipment for use in the mining, construction and utility industries. The deal is expected to close at the end of the year. “The acquisition is an excellent fit with Terex’s strategy of product diversity and is a natural extension of our mining and utility customer […]
December 13, 2004
Business
Eaton to buy Chinese hydraulics manufacturer
Eaton announced Nov. 23 it will purchase the businesses of Winner Group Holdings, a China-based company that produces hydraulic hose fittings and adapters. Eaton will use a combination of share and asset purchases to complete the transaction. Winner is based in Hong Kong with four operations in mainland China. It primarily serves the Chinese market […]
December 5, 2004
Business
AEM elects officers, directors
The Association of Equipment Manufacturers has elected officers and directors for 2005. The group elected Charles Stamp, Jr. chairman. Stamp is vice president, public affairs worldwide for Deere & Company. Other officers the group elected are: first vice chairman Gerald Shaheen, group president of Caterpillar; second vice chairman Dennis Eagan, group president industrial/power equipment for […]
November 28, 2004
Business
Jacksonville-based Jaguar Concrete Pumping wins Contractor’s Dream Package
When Donnie and Maria Teachman of Jaguar Concrete Pumping stopped by Equipment World magazine’s booth at the January 2004 World of Concrete tradeshow, they had no idea good fortune was smiling on them. When the magazine’s sweepstakes representative called the Teachmans to tell them they’d won the “Contractor’s Dream Package,” they weren’t sure it was […]
November 22, 2004
Business
AEM elects 11 members
The Association of Equipment Manufacturers has elected 11 companies to membership in the international trade group for manufacturers and marketers of construction- and agriculture-related equipment and services. The new members are: · 3M Industrial Business of St. Paul, Minn., a manufacturer of safety products · Atlas Construction Machines of Hudson, Ohio, a manufacturer of wheel […]
November 15, 2004
Business
SPX to sell Bomag to Fayat
SPX announced Oct. 29 it will sell Germany-based compaction equipment manufacturer Bomag to Fayat, based in Bordeaux, France, for $446 million in cash. The transaction, which is subject to antitrust clearance conditions, is expected to close in the fourth quarter of this year. North Carolina-based SPX said it conducted a review of Bomag and its […]
November 8, 2004
Business
Stone names director of international sales, district manager
Stone Construction Equipment has named Edward Christopher director of international sales and Erik Peterson district manager. Christopher worked most recently in Asia to manage international business for Outinord S.A. and Somero. He will be responsible for strengthening Stone’s position in global construction equipment markets. Peterson’s responsibilities include serving the needs of equipment dealers and rental […]
November 1, 2004
Business
Atlas Copco expands Chinese compressor plant
Atlas Copco’s Compressor Technique business has expanded its compressor assembly facility in Wuxi, China, for the third time. The new expansion will double compressor assembly capacity at the plant. The company said increased capacity was needed to cope with increased demand for Atlas Copco products as well as to allow the Wuxi plant to extend […]
November 1, 2004
Business
Cat announces 3 percent increase in January; anticipates reaching $30 billion goal in 2006
During a MINExpo corporate briefing at the end of September, Caterpillar announced it would raise machine prices by 3 percent on January 1, following a 3 percent increase this past July. “This is appropriate since we haven’t seen a price increase in five years,” said Gerry Shaheen, group president. Jim Owens, chairman and chief executive […]
October 27, 2004
Business
The steel crisis: Is an end to this perfect storm in sight?
In October 2003, when highway contractor Swank bid on a bridge project for the Pennsylvania Turnpike, the price of steel piling the company needed for the job was 16 cents per pound, delivered to the site. Swank ended up paying 26 cents per pound in March, and today the price is 31 cents per pound. […]
October 25, 2004
Business
IMT names president and COO
Iowa Mold Tooling has appointed Steve Fairbanks president and chief operating officer. Most recently, Fairbanks worked as president of Viking Pump, a Cedar Falls, Iowa-based division of IDEX. He was also president of IDEX’s Gast Manufacturing subsidiary. Fairbanks will oversee all segments of the IMT business and report to Richard Long, chief executive officer.
October 25, 2004
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