November 2014 news
Fastest Backhoe on Earth
The JCB GT has been crowned the fastest backhoe loader on earth after reaching speeds of more than 70 mph in Australia. The JCB GT, originally designed to perform high-speed wheelies at racing events, made the attempt in front of independent record officials in Bathurst, Australia, near Sydney. Guinness World Records confirmed that the JCB GT was officially the fastest backhoe loader in the world with a speed of 72.58 mph. The GT has achieved undocumented speeds of 90-100 mph in the U.S.
Point-of-Rental Receives ALH Tech Award
The ALH (Access, Lift & Handlers) Conference & Awards program gave Point-of-Rental Systems its Rental Technology Award for the company's Mobile Workforce app.
Atlas Copco Appoints New Area and District Sales Managers
Atlas Copco Construction Equipment added two new professionals to its growing rental channel to bolster its service for rental customers across the country. The company named Marty Molthen as district sales manager of the company’s Southwest rental channel and DeAnna Wells as its area sales manager for East Texas and Louisiana territory.
JCB Launches Video Series on Compact Excavators
JCB unveils part one of a three-part online video series highlighting the New Generation 85Z-1 and 86C-1 compact excavators. The first video provides an inside look at the company's manufacturing process, while the second and third videos will showcase the durable machines in action and JCB’s innovative approach to product design.
Single Family Up, Overall Starts Down
Single-family home construction increased 4.2% in October to top off at 696,000 on an annualized basis. This rate is the second highest since early 2008. Single-family permits also rose 1.4% to 640,000 and were also the highest since early 2008 except for November of last year, writes David Crowe, Chief Economist for the NAHB.
Builder Confidence Improves
Builder confidence in the market for newly built single-family homes rose four points to a level of 58 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.
AED Pushes For Legislative Action
American businesses shouldn’t have to wait another year for a long-term, common-sense solution to resolve the uncertainty surrounding the federal highway program, approval of the Keystone XL pipeline, reinstatement of bonus depreciation and higher Sec. 179 expensing levels and preventing administration proposals to expand the Environmental Protection Agency’s regulatory power, emphasizes the AED.
Montabert Launches Factory-Certified Remanufacturing
Montabert recently opened a state-of-the-art remanufacturing facility in Lake City, Georgia, to address the growing demand for remanufactured hydraulic breakers and hydraulic drifters. “Our new facility in Lake City provides us with greater capacity and control over the remanufacturing process,” said Gaetan Julien, product support manager for Montabert North America. “Customers now have the option to purchase like-new equipment — or send their equipment for repair — at a significantly lower cost.”
Wacker Neuson Starts Skid Steer Loader Production In U.S.
The Wacker Neuson Group is building a production line for skid steer and compact track loaders at its US facility in Menomonee Falls, Wisconsin. The facility will go on stream in the first quarter of 2015, initially manufacturing four models.
Dodge Momentum Index Increased in October
The Dodge Momentum Index reversed three months of declines, rising in October to 125.5 (2000=100) for the month, up 7.6% from September's 116.6 according to Dodge Data & Analytics. The Momentum Index now stands 18% above last year, which indicates that overall healthy economic growth is working its way through to the construction sector.
Construction Employment Enjoying Steady Growth
Construction employers added 12,000 jobs in October and the sector's unemployment rate fell to 6.4%, the lowest rate for October since 2006, according to an analysis released today by the Associated General Contractors of America. Association officials said the construction employment gains, along with rising wages and weekly hours, are consistent with survey results showing more firms having a hard time finding enough qualified workers to fill available positions.
Record User-Conference Attendance for Point-of-Rental
Point-of-Rental Systems, Inc., saw a record high attendance of about150 people at its annual International Conference, held last month. Attendance nearly doubled from last year, the company reports. At the conference, attendees had the opportunity to explore and taste the downtown Dallas culture as well as participate in classes, evening events, and network with other rental industry professionals.
Single Family Housing to "Rev Up" in 2015: NAHB
A growing economy, rising household formations, low mortgage rates and pent-up demand will help single-family housing production to rev up in 2015 while a growth in renters will keep the multifamily market at cruising altitude or higher, according to economists who participated in the recent National Association of Home Builders (NAHB) 2014 Fall Construction Forecast Webinar.
CASE Adds Experienced Staff to Support Rental Market
CASE Construction Equipment announced today that it has added Dave Garton and Wayne Harriman to its strategic accounts team, both in the role of Manager – Rental Accounts. Garton and Harriman will call on accounts throughout North America to ensure customer satisfaction and further develop the CASE equipment rental network.
Industry Associations Comment on Election Results
"Get something done!" is the mandate that two key industry associations say reflect the nation's attitude, emphasized by last Tuesday's election results. The results "hopefully send a strong message to both the president and the members of the House and Senate: Americans are looking for Congress and the president to get things done.
Dodge Analytics: Look For Balanced Construction Growth in 2015
Dodge Data & Analytics released its 2015 Dodge Construction Outlook on Nov. 6. The Outlook is a mainstay in construction industry forecasting and business planning. The report predicts that total U.S. construction starts for 2015 will rise 9% to $612 billion, a larger gain than the 5% increase to $564 billion estimated for 2014.
Iron Planet Acquires Kruse Energy and Equipment Auctioneers
IronPlanet, an online marketplace for used heavy equipment, announced that it has acquired Kruse Energy and Equipment Auctioneers LLC, the leader in oilfield equipment auctions, extending its presence in the oilfield industry. Terms were not disclosed.
Revised Forecast For Quarterly Equipment Rental Revenue Growth
The equipment rental industry in the United States is expected to show significant growth of 7.3 percent in 2014 to reach $35.7 billion, according to the American Rental Association’s (ARA) latest forecast from the ARA Rental Market Monitor.
Rouse Rental Report Highlights
Used equipment values increased, auction values dropped and achieved rental rates increased slightly, according to the October edition of the Rouse Rental Report newsletter:
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