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Tag: Konecranes
Dealers
Articulated truck sales prompt 1Q revenue gains for Volvo dealer Strongco
Canadian dealer Strongco reported its 2019 1Q revenues were $92.1 million compared with $89 million for the same time period in 2018. Robert Beutel, executive chairman, said improved revenues were “due mainly to stronger sales of articulated trucks in Alberta in spite of a softer market, which was estimated to be down more than 20 […]
May 13, 2019
Dealers
Strongco’s 2016 revenues drop 6%, earnings plummet 64%
Ontario-based equipment dealer Strongco Corporation has reported a 6.2-percent drop in revenues for 2016, along with a dramatic decrease in earnings before interest, tax, depreciation and amortization (EBITDA) of 64.2 percent, as it works to “streamline and stabilize” its business. Revenues for 2016 reached $361.3 million, compared to $385 million the previous year. EBITDA dropped […]
April 4, 2017
Dealers
Business Roundup: News on Terex MHPS sale, IronDirect, McCann, Carlson Paving, construction jobs/spending
Construction loses 3,000 jobs in Dec. but employment remains up from 2015 After reaching an 8-year high in November, employment in the U.S. construction industry fell slightly, losing 3,000 jobs in December. According to preliminary data from the Labor Department, construction now employs 6.699 million Americans. Despite the loss, construction employment remains at its highest point since December […]
January 9, 2017
Dealers
Sales down, profit up at Terex following 2Q sales of construction, MHPS segments
Along with a report of a 10-percent decrease in net sales for the second quarter, Terex released its 2016 outlook, updated based on its new, more streamlined corporate structure following the sale of two of the company’s equipment segments. Terex announced net sales of $1.3 billion for Q2 and a 44-percent increase in profit to $110 million. […]
August 4, 2016
Business
No Deal: Zoomlion withdraws acquisition offer following Terex MHPS sale to Konecranes
Less than two weeks after Terex walked away from a merger with Finnish equipment manufacturer Konecranes to further pursue acquisition talks with Chinese OEM Zoomlion, Zoomlion has withdrawn its offer. After announcing what appeared to a be done deal last fall with Konecranes, Terex officially walked away from the merger earlier this month after receiving an […]
May 31, 2016
Business
Terex walks away from Konecranes merger to continue talks with Zoomlion
Three months after receiving an acquisition offer from Chinese equipment manufacturer Zoomlion, Terex has announced that it has mutually agreed with Konecranes to terminate plans to merge the two companies. Announced in August 2015, the merger would have placed 60 percent of the new company (to be called Konecranes Terex) in the hands of Terex shareholders, with […]
May 18, 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
Business
Terex to merge with Finnish manufacturer Konecranes
Cranes and heavy equipment manufacturer Terex will merge with Finnish competitor Konecranes in an all-share deal, the companies announced in a joint release Tuesday. The new company will be called Konecranes Terex and will be based out of Finland. It is expected to bring in $10 billion in revenues and allow both companies to fight […]
August 11, 2015
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