Dana rejects hostile bid from ArvinMeritor
Vehicle parts maker Dana Corp. last week rejected a $2.2 billion hostile bid from ArvinMeritor. Dana called the offer financially inadequate and risky. Joe Magliochetti, Dana chairman and chief executive, told Reuters the company’s recent restructuring would make Dana more valuable to its shareholders than ArvinMeritor’s cash offer.
LBX appoints dealer for Chicago
LBX announced Monday it has appointed Steve’s Equipment Service an authorized distributor of Link-Belt excavators, articulated trucks, wheel loaders and material handlers for the Chicago area. S.E.S. has locations in West Chicago and Gary, Ind. The company is also a dealer for Daewoo, Terex, Bitelli Planers, La Bounty and Allied equipment brands.
Stepp Equipment adds Wastequip to product line
Stepp Equipment, with locations in Chicago and Menomonee Falls, Wis., recently began carrying Wastequip’s line of hoists, compactors, balers, open-top rolloff containers, receiver boxes, front-load and rear-load containers and parts.
Fecon assigns dealer for wood shredder
Fecon has appointed Pioneer Machinery a stocking dealer for the Bull Hog wood shredder. Pioneer has 23 branches in Georgia, Florida, North Carolina, South Carolina and West Virginia.
PEOPLE ON THE MOVE
SNORKEL has appointed Richard L. Hoffelmeyer vice president of engineering. In recent years, Hoffelmeyer has worked as principal engineer and manager of product support at Altec Industries. He played a key role in developing the Snorkel ATB60 and assisted in developing the first 120-foot telescopic boom for Snorkel when he worked for the company as senior project engineer in the early 1990s.