Flash Facts – March 17


Mitsubishi and Caterpillar sign new agreement
Mitsubishi Heavy Industries and Caterpillar signed a new agreement on Wednesday that will expand operations of their joint venture, Shin Caterpillar Mitsubishi in Tokyo. As part of the agreement, SCM will expand as a partner of Caterpillar in the Asian region and will be able to invest in existing Caterpillar manufacturing facilities in China, India and Indonesia.

Formation of Robert Bosch Tool Corporation announced
S-B Power Tool and Vermont American recently made public the formation of Robert Bosch Tool Corporation in an attempt to better serve the North American market. Because of the change, all brands under S-B Power Tool and Vermont American will be a part of the new corporation. Those brands include Bosche Power Tools, Skil Power tools, Dremel, Vermont-American, Primark brands and Gilmour. As part of the change, Reiner Beutel was appointed chairman, president and chief executive officer of Robert Bosche Tool.

Terex acquires Telelect distributors
Terex Utilities announced March 10 that it has acquired Commercial Body Corporation and Combatel Distribution, distributors of Telelect products. Both companies specialize in final assembly, distribution, equipment rental and after-market service for the utility telecommunications markets in the Southern United States. Terex hopes the acquisition will help the companies evolve into a one-stop alternative where other Terex products could be distributed.


Volvo Rents signs franchise agreement with Oakland, Calif. company
Volvo Construction Equipment Rents announced Friday it has signed a rental franchise agreement with All American Rentals of Oakland, Calif. All America Rentals will open independently owned rental centers under the Volvo name in the Oakland area. The first rental center will open this month.


Neff Rental names chief operating officer
Neff Rental recently named Graham Hood its new chief operating officer. In his last position, Hood served as vice president of the Southeast region for Neff. As chief operating officer, he will be based in the company’s corporate headquarters in Miami.

M.K. Morse appoints marketing director
Saw blade manufacturer M.K. Morse announced the appointment of Peter Heenan as director of marketing. His previous experience includes positions at Greenfield Industries as product manager and marketing manager for the saw blade division. As marketing director at Morse, Heenan will be responsible for development of branding, pricing, sales and channel expansion strategies.

HRE names vice president
Horizontal Rig & Equipment recently named Denis C. Fox its new vice president. As part of the position, Fox will be responsible for overseeing domestic and international sales and marketing. He has 29 years of experience in the farm and construction equipment industry.

Ringhaver president retires
Ringhaver Equipment has announced that its president, Lance Ringhaver, will retire at the end of the year and will be replaced by the Randal Ringhaver, the current president of Ring Power Corp. Effective immediately, Lance will assume the position of chairman-emeritus. RPC is the parent and holding company of Ringhaver Equipment and Ring Power.