August 2014 news
Airtow Trailers Expands With New Ohio Location
Airtow Trailers, based in La Verne, CA, announced that it has added a distribution warehouse in Wapakoneta, Ohio. This location will improve the company's efficiency in shipping to midwest, southern and east coast customers.
July Construction Rises 6 Percent
New construction starts in July climbed 6% to a seasonally adjusted annual rate of $588.8 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial.
5-Time MVP Peyton Manning to Keynote The Rental Show
Peyton Manning, Denver Broncos QB and the NFL’s only five-time Most Valuable Player, will share his thoughts about developing qualities of leadership, making the right decisions and what it takes to become a champion in our own lives during the keynote session on Feb. 23 at the ARA's convention and trade show.
United Expands With Specialty Branches
United Rentals announced on August 26 the further expansion of its specialty branch network with the addition of seven U.S. locations and one in Canada:
JCB Staff Takes Bucket Challenge - BIG Bucket Challenge
The gone-way-beyond-viral “Ice Bucket Challenge” to raise money for Amyotrophic Lateral Sclerosis (ALS) research had many JCB employees taking a frigid drenching on August 22. Those who donated to the cause received the shower of a lifetime.
July Housing Numbers Surprise, Confound
July’s new home construction numbers rebounded from June’s disappointment, with a nearly 16% increase over June. Meanwhile, home sales increased to their highest annual pace of the year, which is at least a suggestion that the overall demand for housing – existing and being built – is improving.
Hyundai Partners With Werk-Brau Attachments
Hyundai Construction Equipment is partnering with Werk-Brau to provide a wider array of attachments for its customers. Werk-Brau offers O.E.M. and replacement attachments heavy duty excavator and mini-excavator buckets, ditch cleaning and draining buckets, hydraulic and mechanical quick couplers and hydraulic and manual thumbs.
Polaris, SmartEquip Partnership Will Better Serve Rental Companies
Polaris Industries Inc. has partnered with SmartEquip to provide aftermarket product support and electronic parts procurement technologies for rental companies working with its Fleet Sales division.
39 States Show Construction Employment Gains
Construction firms added jobs in 39 states from July 2013 to July 2014 and in 34 states from June to July, according to an analysis today of Labor Department data by the Associated General Contractors of America. In the past year, more than 210,000 jobs have been added in construction, the data show.
Builder Confidence Rises Two Points in August
Builder confidence in the market for newly built, single-family homes rose two points to 55 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for August. This third consecutive monthly gain brings the index to its highest level since January.
Deere Announces Q3 Results, Layoffs
While Deere's construction, forestry and financial services are showing growth, the slowdown in agriculture contributed to a 5% decrease in the company's third quarter revenue. Because of "current market conditions" the company announced layoffs at four ag equipment factories.
Dodge Momentum Index Loses Ground
The Dodge Momentum Index erased the gains made over the last two months, falling 4.4% in July to 121.4 (2000=100). This marks the Index’s first decline in four months, according to McGraw Hill Construction, a division of McGraw Hill Financial.
Applications for New Homes Up Slightly for July; Recovery Continues . . . Slowly
Mortgage applications for new homes increased 2% over June, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for July. The MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 433,000 units, A report from the National Association of Home Builders shows that some metro areas are above normal levels.
Briggs & Stratton to Acquire Allmand Brothers
Briggs & Stratton Corporation announced today that it has signed a definitive agreement to acquire U.S. based Allmand Bros., Inc. Allmand designs and produces towable light towers, industrial heaters, and solar LED arrow boards. Briggs & Stratton Corporation produces gasoline engines for outdoor power equipment, has wholly owned subsidiaries that market portable generators and pressure washers, and designs, produces and markets lawn and garden and turf care products through several brands.
Construction Employment Opportunities Growing
Your contractor customers have filled more than 300,000 jobs in the past three years, and the number of open, unfilled jobs showed a slight increase in June, representing the fourth highest month for open construction jobs since the recession ended, reports Robert Dietz in the NAHB's Eye on Housing.
U.S. Equipment Rental Revenue Forecasts Growth This Year, Record High Next Year
The equipment rental industry in the United States is forecast to grow 7.6% this year, and 10.5% next year, according to the American Rental Association’s (ARA) latest data from the ARA Rental Market Monitor. This year, revenues are expected to hit $35.8 billion, then move to $39.5 billion next year. The previous record was $36.9 billion, set in 2007, according to the association.
$333.9 Million in Emergency Repair Relief
Related to the previous post, 21 states are getting funds to repair roads and bridges damaged by storms, floods and other events. This funding coming from the U.S. Treasury General Fund and not the Highway Trust Fund.
Bobcat, Doosan Acceleration Center to Support Innovation, Training
Bobcat Company and Doosan opened their new Bismarck, ND, Acceleration Center where 175 people will work on initial design, prototype engineering, prototype manufacturing, computer simulation and testing ideas and concepts. The Center will be a key engineering facility for all Bobcat compact equipment help serve some of Doosan heavy equipment’s research and development needs for the North American market.
Honda Power Equipment Celebrates, Invests
Honda Power Equipment Mfg., Inc.today marked the 30th anniversary of operations at its Swepsonville facility by announcing a new $8.5 million investment in plant operations to innovate production processes and add new products. Among other changes, the plant will add a new line for the production of two-stage snow blowers and prepare for the addition of Honda generators to its already diverse production lineup.
Used Equipment, Rental Rates Up, Auction Values Down - Rouse Report
Used equipment price continue (slightly) their upward trend, rental centers are able to increase rates, but auction proceeds, for the first time since February, slid below the Forced Liquidation Value, according to Rouse Services data.
CNH Industrial Reports Q2 Results, Production Expansion
CNH Industrial posted it's second quarter results last week, showing revenue gains of about 1% for 2014, although operating profit dropped 1.2% for the quarter compared to 2012. Today the company announced it is investing $24 million to expand crawler dozer production in Burlington, Iowa.
AED: Highway Funding Stop-Gap Not the Answer
Warned weeks ago that Highway Trust Fund payments were going to be cut, the Senate last week took until a few hours before the deadline to pass a temporary fix, keeping the fund going until next May. AED's Brian McGuire released this statement from the Associated Equipment Distributors:
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