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Dealers: Page 97
Dealers
Deere to acquire German road equipment maker Wirtgen Group for $5.2 billion
In a surprise announcement during the wee hours of Thursday morning, Deere & Company announced a blockbuster deal to acquire German equipment manufacturer Wirtgen Group. The two companies have signed a definitive agreement on the all-cash deal which will see Deere purchase the road equipment maker for €4.357 billion. When Wirtgen’s debts and other considerations […]
June 1, 2017
Dealers
Titan Machinery total revenue drops 7.3% as construction retracts 18.7%
North Dakota-based Titan Machinery, which carries construction, agriculture, aggregate and forestry equipment, has reported first quarter fiscal year 2018 (ended April 30) revenue of $264.1 million, a 7.3 percent decline compared to the same period last year. Gross profit for the quarter reached $48.9 million, a drop of 8.6 percent compared to the $53.5 million […]
May 31, 2017
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Dealers
Equipment Roundup: Deere hi-cap SSL/CTL LM90 buckets; DOJ sues FCA over emissions; JLG H800AJ boom lift; New Deere loader buckets; Cat-branded mobile accessories
John Deere intros LM90 high-capacity bucket for skid steers, CTLs John Deere has introduced a new bucket for skid steers (SSLs) and compact track loaders (CTLs) featuring a high-back, high-capacity design. Deere says the new Light Material High-Capacity Bucket (LM90) is designed “to take advantage of the improved performance capabilities and boom design” of its G-Series SSLs […]
May 30, 2017
Dealers
Business Roundup: Ritchie Bros. cleared for IronPlanet purchase; OSHA injury reporting rule suspended; Finning Q1 earnings; Takeuchi adds Kirby-Smith; Digga partners with Berlon
DOL suspends OSHA rule requiring companies electronically report injuries and illnesses The Department of Labor has suspended an Occupational Safety and Health Administration (OSHA) rule requiring companies to electronically report injury and illness records, which keeps the records from being publicly disclosed, The Washington Post reports. The rule, which took effect Jan. 1, requires employers to send in their summary data […]
May 30, 2017
Dealers
Volvo CE and dealers partner with SkillsUSA on Penn. youth heavy equipment competition
Volvo Construction Equipment, along with its dealer Highway Equipment & Supply and customer Allan Myers, recently participated in the SkillsUSA Pennsylvania State Heavy Equipment Competition. The event aims to encourage youth to pursue jobs in manufacturing and tested “top technical students” from across the state in operating equipment in nine categories “As a leader in […]
May 29, 2017
Dealers
Flaska JCB expands beyond Phoenix with Denver dealership
Phoenix-based Flaska JCB has added a second JCB-dedicated location in Denver, Colorado, which will provide coverage for 12 counties across the state. “We have had an excellent business relationship with JCB over the last three years at our Phoenix location and are thrilled to continue to work together and promote the JCB brand in the […]
May 26, 2017
Dealers
John Deere Q2 profit spikes 62%, sales and revenue up 5%
Deere & Company’s net income grew 62 percent in the second quarter of its fiscal year 2017, which ended April 30. Net income rose to $820.4 million compared to the $495.4 million in the same period last year. Net income for the first six months of the year reached $996.2 million, compared to $749.8 million […]
May 25, 2017
Dealers
Wacker Neuson reaches record 1Q revenue
Wacker Neuson is reporting record first quarter revenues with strong sales growth in the company’s Europe and Americas markets with gains in both the construction and agricultural sectors. First quarter revenues climbed to €338.5 million ($378.5 million), up 7 percent from 1Q 2016. Profit however fell 18 percent to €9.3 million ($10.4 million). With this quarter in the […]
May 24, 2017
Dealers
Cleared for IronPlanet purchase, Ritchie Bros. CEO talks people, Cat alliance, impact
The U.S. Department of Justice’s Antitrust Division has cleared Ritchie Bros.’ proposed purchase of IronPlanet announced last August. The estimated $758.5 million purchase sets the stage for potential combined online sales of $3 billion annually. The acquisition could close “in the next few weeks” with a new organization structure announced following. Ritchie Bros. CEO Ravi Saligram […]
May 23, 2017
Dealers
Different types of customer visits necessitate different dealer approaches
It’s no secret that visiting a customer can be a great way to build a relationship that leads to sales. However, it’s critical to note the difference between calling on an established customer and calling on an unknown prospect, says George Papp, professional sales consultant and trainer for the Used Truck Association’s (UTA) “Selling for […]
May 23, 2017
Dealers
Equipment Roundup: Volvo EX2 electric compact excavator; Ford intros 2018 F-650/750; Pro-Handler extendable wheelbase skid steer; New 12kW Cat portable generator
Volvo unveils the EX2: First fully electric compact excavator prototype is faster, quieter Volvo Construction Equipment has unveiled what the company believes to be the first fully electric compact excavator prototype. Eight months after unveiling the LX1 hybrid electric loader and the HX1 load carrier prototypes as part of the company’s vision for the autonomous and electrified quarries of […]
May 23, 2017
Dealers
Business Roundup: Strongco Q1 revenues down; Parrot thermal imaging drone; Kubota Engine opens tech training center; Rental revenue targets $49.4B for 2017; U.S. home starts fall
Strongco Q1 revenues drop 8.8%, earnings sink 18.9% Equipment dealer Strongco Corporation’s first quarter 2017 revenues fell to $83.2 million according to its most recent financial report, representing an 8.8 percent decrease compared to the same period the year before. Earnings before interest, tax, depreciation and amortization (EBITDA) dropped to $4.3 million, a decrease of […]
May 23, 2017
Dealers
Digga North America, Berlon Industries partner on product sales
Digga North America has partnered with Berlon Industries on a sales representation agreement whereby Berlon will sell the company’s auger drives, trenchers and other products used on mini loaders, skid steers, small backhoes and mini excavators. Berlon will provide coverage in Illinois, Iowa, Minnesota and Wisconsin. “Berlon has a solid dealer network. Adding Digga’s quality […]
May 22, 2017
Dealers
INFOGRAPHIC: Compact excavator sales and buyer trends
A snapshot of new and used sales trends from Randall-Reilly’s Equipment Data Associates and TopBid auction price service.
May 19, 2017
Dealers
Takeuchi adds Kirby-Smith Machinery to dealer network for Oklahoma, Texas
Takeuchi-US has added Kirby-Smith Machinery, headquartered in Oklahoma City, to its dealer network to provide coverage in Oklahoma and Texas. The company’s products will be available at six of the dealer’s 10 locations, including Oklahoma City and Tulsa in Oklahoma, and Lubbock, Odessa, Amarillo and Abilene in Texas. “Takeuchi has a great product line and […]
May 19, 2017
Dealers
Kobelco adds Rudder to dealer network sales team
Kobelco Construction Machinery USA has named Cole Rudder as its southeast district business manager with responsibility for providing support to dealers in the southeastern U.S. The company reports Rudder will train dealer staff on Kobelco products and provide marketing support for its excavators. In addition, he will help develop and execute annual business plans, inventory […]
May 18, 2017
Dealers
Finning International Q1 2017 revenue down, but earnings up dramatically
Finning International, the Vancouver-based parent company of Finning Cat, the world’s largest Caterpillar dealer, reports a 6 percent decrease in revenue for the first quarter of 2017, but a 37 percent increase in earnings before interest, tax, depreciation and amortization (EBITDA) compared to the same period in 2016. Net income fared even better, with a […]
May 17, 2017
Dealers
Dealers should try disruptive marketing to shake up the status quo
Everyone knows the old saying: You have to spend money to make money. The truth of that is obvious, but when times are lean, it’s hard to maintain a heavy marketing budget. Furthermore, marketing has changed dramatically as social media and other digital platforms have revolutionized so many aspects of commerce, especially on a […]
May 16, 2017
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