Februuary 2014 news
SBC upgrades rental software
Rental software provider Solutions by Computer (SBC) has upgraded its Enfinity rental management system to integrate with StreetEagle, offering GPS monitoring, in-vehicle navigation, status updates and reporting tools.
Home Depot names president
The Home Depot today announced that Craig Menear has been named president, U.S. retail, effective immediately.
Terex backs program
Every day, millions of hard-working American contractors put their fingerprint on America’s infrastructure.
Cummins tailors rental finance plans
Cummins Power Generation has signed a partnership with De Lage Landen (DLL) to provide tailored financial packages to its rental customers and distributors in the U.S.
Equipment exports fall 25 percent
Foreign sales of U.S.-made construction equipment dropped sharply in 2013, snapping a three-year export surge that had been one of the bright spots in the country's halting economic recovery.
Construction optimism hits record high
Construction contractors and equipment distributors are optimistic that local non-residential construction activity will improve in 2014.
Agreement reached on telematics standard
The Association of Equipment Manufacturers (AEM) and the Association of Equipment Management Professionals (AEMP) have agreed on a set of machine data for on-board telematics systems.
Australia's Makinex makes North American entrance
Australian manufacturer of light construction tools, Makinex, has launched its products in North America.
Ritchie Bros. sells more than $166 million
Ritchie Bros. Auctioneers held the world's largest heavy equipment auction of 2014 in Orlando, Fla., selling 8,800 items for more than $166 million.
JLG to discontinue Lull telehandlers
JLG Industries, McConnellsburg, Pa., an Oshkosh Corp. company, plans to discontinue the manufacturing of its Lull telehandler product line.
Genie cross-selling initiative
Genie announced the North American Direct 2 Rental (D2R) cross-selling initiative that will sell, service and provide parts and warranty support for select Terex Construction and Terex Crane products.
IronPlanet surpasses 1 million users
IronPlanet, an online marketplace for buying and selling used heavy equipment, announced it has surpassed one million users who have registered to view equipment for sale and participate in online auctions at IronPlanet.com.
Materials prices increase
Prices for materials used in construction and for nonresidential building construction both increased more than overall prices for “final demand” in January.
Small business confidence edges up
Small business optimism improved 0.2 points from December, landing at 94.1 in January, but well below the pre-recession average of 100.
Terex reports strong second half
Terex Corp. reported income from continuing operations of $209 million, or $1.79 per share, on net sales of $7.1 billion for the full year 2013.
Rental Show is successful
Buyers, buoyed by more confidence in the equipment rental economy, helped many exhibitors at The Rental Show 2014 in Orlando, Fla., exceed expectations.
Generac reports strong growth
Generac Holdings Inc. reported that diversified growth drove a strong increase in revenue and earnings in the fourth quarter of 2013.
Deere forecast tops estimates
Deere & Co. forecast a fiscal 2014 profit that exceeded analysts’ estimates.
New Charter Software sales tool
Charter Software, an innovative provider of dealership business technology, officially launched their new dealership sales enhancement tool, ASK.
Rental revenue to reach $41 billion
North American rental revenues are projected to be $41.1 billion in 2014 and reach $52.3 billion by 2017, led by strong growth in the U.S. equipment rental market coupled with steady growth in Canada.
Hertz Equipment Rental opens ND branch
Hertz Equipment Rental Corporation has opened a new facility in Bismarck,N.D. to serve the Bakken oil fields region.
Volvo Rents becomes BlueLine Rental
Volvo Rents, a provider of small- to medium-sized construction rental equipment, announced the rollout of a new name and corporate identity, BlueLine Rental.
Cummins 4Q revenue up 7 percent
Cummins Inc. reported fourth quarter revenue of $4.6 billion increased 7 percent from the same quarter in 2012.
Cushman special financing
Attendees of the American Rental Association’s The Rental Show may be eligible for an exclusive financing offer on Cushman vehicle purchases.
Bomag breaks ground
Bomag Americas has broken ground on a new North American headquarters facility in Ridgeway, S. C.
Construction industry adds jobs
Construction employment jumped by the largest monthly amount in nearly seven years in January, bringing industry employment to the highest level since July 2009.
New Dosko distributor
Dosko announced that Taskpower of Nelson, New Zealand will provide distribution and dealer support for Dosko’s line of stump grinders, brush chippers, chipper/mulchers and log splitters throughout New Zealand.
U.S. GDP grew 3.2 percent in Q4
Real personal consumption expenditures increased 3.3 percent in Q4; residential fixed investment dropped 9.8 percent.
CNH forecasts construction improvements
Manufacturer CNH Industrial has forecast improvements in its construction sales for 2014, despite the fact that the business reported a trading loss for 2013.
Canadian Rental Mart returns March 18-19
Canada's national show for the equipment and party rental industries returns to the Toronto Congress Centre March 18-19, 2014.
Construction spending inches up
Total construction spending edged up 0.1 percent in December and rose by a modest 4.8 percent for all of 2013, as a robust market for apartments and single-family houses outweighed downturns in private nonresidential and public projects.
Complete divestiture of Volvo Rents
The previously announced divestiture of Volvo Rents was completed on Jan. 31 2014.
Positive outlook for rental growth
Equipment rental store owners and managers, as well as product suppliers to the industry, continue to show optimism for growth for 2014.
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