Tag: business: Page 26

Business

ARA’s Rental Penetration Index down slightly in 2015 despite “robust” non-residential market

The American Rental Association’s Rental Penetration Index, which has been on a steep incline in the past five years, saw its first downward movement in 2015, says ARA. The decrease was slight, however, going from 53.9 percent in 2014 to 52.9 percent in 2015. The index—which measures the share of the U.S. construction equipment fleet […]

February 22, 2016

Construction Equipment

China’s Zoomlion confirms offer to woo Terex away from Konecranes merger

Chinese equipment manufacturer Zoomlion has officially confirmed an offer made to Terex to buy the company, despite Terex’s plans to merge with Finnish manufacturer Konecranes. Zoomlion announced Tuesday that on Dec. 4 it offered to buy Terex for $30 per share in cash. At the time of the offer, it represented a 41 percent premium […]

February 17, 2016

Dealers

A symbolic nudge toward embargo’s end, Caterpillar names dealer for Cuba

Whenever the United States decides to officially lift its 55-year-old trade embargo on Cuba, Caterpillar will be ready. The heavy equipment manufacturer today announced that it will sell machines to Cuban customers through Rimco, a Pureto Rican company Cat has been working with for 34 years. Currently, Rimco is the Cat dealer for Puerto Rico and the Eastern […]

February 10, 2016

Business

Volvo CE doubles operating income in 2015 despite sales decline

Despite a decrease in sales during 2015, Volvo Construction Equipment managed a huge improvement in operating income for the year thanks to market share gains and strong performance in North America and Europe. The company reported fourth quarter sales of SEK 11 billion ($1.3 billion), down 11 percent from the same period last year. Operating […]

February 9, 2016

Roadbuilding

With oil prices plummeting, Obama says now is time to raise gas tax

Gas prices are continuing to drop to historic lows, and there’s really no sign the trend will reverse any time soon. With that in mind, President Barack Obama thinks now is as good a time as any to raise the gas tax. According to The Hill, Obama told reporters last week the low prices on […]

February 9, 2016

Business

Construction adds 28,000 jobs in January

The U.S. construction industry continued its streak of employment gains in January, adding 28,000 jobs. The industry now employs 6.615 million Americans, the highest total since December 2008’s total of 6.701 million, according to preliminary data from the Labor Department. Construction employment has been on the rise for 10 straight months. The latest data also […]

February 8, 2016

Business

Chinese, mining demand drags down Komatsu sales as profit falls 11% in first 9 months of the year

Komatsu says its sales are brisk in North America but continued difficulty with slack demand for equipment from Chinese customers and customers in the mining industry continue to drag down the company’s bottom line. The company reports sales of 1.37 trillion yen ($11.3 billion) for the first nine months of the fiscal year, which ends March 31. Sales are […]

February 2, 2016

Business

Caterpillar to close 5 more plants, cut 670 jobs as part of cost reduction plan

As part of the company’s cost reduction plan introduced in the Fall of last year, Caterpillar has announced its latest round of layoffs with cuts affecting five facilities around the U.S. According to a report from the Associated Press, Cat will eliminate a total of 670 jobs and close plants in Illinois, Georgia, New Mexico, Wisconsin and China. However, production at these […]

February 1, 2016

Business

Caterpillar profit fell 43% in 2015; 4Q loss comes as construction, mining sales weaker than expected

Despite slashing its sales outlook in tandem with an October announcement of a sweeping cost reduction plan, Caterpillar’s full-year sales still fell below that most recent forecast after sales fell $3 billion year over year in the fourth quarter. The company reported 4Q sales and revenues of $11 billion, down 23 percent from the same quarter in 2014. Cat […]

January 28, 2016

Construction Equipment

Why Caterpillar invested in Powerhive, a smart microgrid delivering affordable power to developing communities

Since 2012, PowerHive has been delivering electricity to spread-out rural communities in developing nations. The company does this through a smart mix of software and hardware, a mix that recently attracted a $20 million Series A investment round. Caterpillar Venture Capital, the investment subsidiary of the heavy equipment giant, has announced its participation in that […]

January 27, 2016

Business

Judge throws out ICP’s antitrust suit against Caterpillar, Komatsu and Volvo CE

A lawsuit filed against three of the largest manufacturers of construction equipment alleging that they worked together to limit competition from Chinese manufacturers has been thrown out of federal court. According to a report from the Wall Street Journal, U.S. District Judge Richard Andrews dismissed the lawsuit which was filed by International Construction Products (ICP) nearly one […]

January 25, 2016

Dealers

Heavy equipment dealers: trade skills gap costs industry $2.4 billion a year

Construction equipment dealers are reporting significant shortages in getting skilled help, a lack that is directly impacting their bottom line, according to a survey released Wednesday by the Associated Equipment Distributors Foundation. More than 50 percent of survey respondents said the inability to find qualified workers is both hindering growth and increasing costs. AED says […]

January 21, 2016