September 2014 news
JCB Opens New Parts Distribution Center
JCB has officially opened its newest North American parts distribution center in Aurora, IL. This Chicago-area facility will serve as JCB’s main parts distribution center in North America, joining the company’s three other parts warehouses in Savannah, GA; Fontana, CA and Ontario, Canada.
New-Home Sales Top 500,000 in August, Highest Level Since 2008
Sales of newly built, single-family homes increased 18 percent in August to a seasonally adjusted annual rate of 504,000 units in August, the highest level in six years, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
PERC Provides Landscaper Videos on Value of Propane-Powered Equipment
The push to propane power with landscapers may mean an opportunity for your rental business. PERC (Propane Education and Research Council) is emphasizing the value of propane powered equipment, running a series of six videos featuring the experiences of landscapers using the machines. The videos emphasize how propane offers clean, affordable power, ROI, fuel savings and reduced maintenance.
ABLE Equipment Rental Named Kubota Dealer
ABLE Equipment Rental, a construction equipment rental, sales, service and parts buisness, announced that they are now the authorized KUBOTA construction equipment dealer for metropolitan New York and Long Island, covering Manhattan, Brooklyn, Queens, Staten Island, The Bronx, and Nassau and Suffolk Counties.
Titan Acquires Advanced Striping Equipment (ASE)
Titan, manufacturer of professional-grade sprayers and application equipment, announced the acquisition of Advanced Striping Equipment, Inc. (ASE). Based in Douglasville, Georgia, ASE manufactures specialized road marking equipment including thermoplastic walk-behind machines, intermediate stripers, and truck-mounted units.
AED Exec Notes Cost of Pipeline Delay
Another year older, but no wiser, now with six years of delay behind us, notes Brian McGuire, president & CEO of Associated Equipment Distributors (AED). The executive was highlighting the sixth anniversary of TransCanada’s first application (Sept. 19, 2008) to the U.S. State Department for approval to build the Keystone XL pipeline.
August Housing Starts Decline
While builder confidence is high, as noted in the previous post, new home construction starts continue to show volatility, dropping 14.4% fromJuly. August's numbers peg the annual rate of privately-owned housing starts at 956,000 compared to the revised July estimate of 1,117,000. While this year has shown volatile numbers after a slow start, the August numbers remain a about 8% ahead of year-ago numbers.
Homeownership Slumps, Rental Construction Rolls, Builder Confidence Jumps
Though not buying homes, the 18- to 34-year-olds that comprise the "Millenials" are driving demand for multi-family construction, writes Jann Swanson in MortgageNewsDaily.com, pushing new construction to the highest monthly pace since early 2006 and apartment construction to the highest level seen in 25 years. Does the multifamily boom show up in the Builder Confidence Index? It jumped 4 points, hitting 59 - the highest level since late 2005, according to David Crowe, of the NAHB.
Atlas Copco Opens Service Centers To Support Rental Stores
Atlas Copco has opened 8 service centers within 200 miles of 90% of the nation's rental stores, the company says, focusing on handling major equipment repair or refurbishing needs so rental centers can focus on the business of renting and free-up service time for more immediate needs.
Durante Rentals On Fastest-Growing List
Inc. magazine has ranked Durante Rentals #2098 on its 33rd annual Inc. 5000 List, an exclusive ranking of the nation's fastest-growing, privately owned companies. This is the second year in a row Durante Rentals has made the prestigious list, coming in at #1879 in 2013.
Dodge Momentum Index Shows . . . Not a Lot for August
The Dodge Momentum Index is a montly measure of initial reports for nonresidential projects in planning, shown to lead construction spending in this category by a year. It increased 0.2% in August after a 5.7% drop in July, according to McGraw Hill Construction, a division of McGraw Hill Financial. It's now at 118.8 - which is nearly 14% higher than last year.
FMI's Q3 Construction Outlook: "Improving Slowly"
FMI, a leading provider of management consulting and investment banking* to the engineering and construction industry, released its Q3-2014 Construction Outlook. The forecast calls for solid, slow growth. Contributing factors include relatively low energy prices, low inflation, unemployment holding around 6.2 percent and GDP slowly growing. Additionally, consumer confidence is rising steadily, building permits and housing starts bounced back in July, and banks are starting to lend again, that is, if the applicant has good credit and cash flow.
Data to Fuel Your Weekend BBQ Conversations
The housing engine that drove the pre-recession economy has been trying to sputter back to life. For those who make their living serving those who build homes, it's frustrating to continue hearing 'slow-but-steady.' While the Bureau of Labor Statistics "Housing: Before, During, And After The Great Recession" report can't tell you when the housing market will rocket upward again, it does provides some very interesting stats, painting a picture that's sure to spark conversations about our post-recession world.
Felling Trailers Auctioning Trailer to Benefit Pancreatic Cancer Research
Felling Trailers is conducting its second online auction of a FT-3 drop deck utility trailer to benefit cancer research. The company manufactured and painted one of its most popular trailers metallic purple to be auctioned online to bring awareness of and support to pancreatic cancer research. The online auction via Ebay (listing # 221541740019) is live until Friday, September 19th, at noon CST.
Sunbelt Rentals Acquiring ECM's Equipment Rental Business
Sunbelt Rentals has entered into an agreement with ECM Energy Services to acquire its equipment rental division. The all-cash transaction is expected to close in September.
Wrigley Field Retro Makeover Gets Skyjack Assist
Chicago Cubs fans got a blast from the past this summer when the marquee at the Illinois baseball team’s home stadium was painted green and gold to celebrate its 100th anniversary.Benjamin Moore, the official paint of Wrigley Field, used three Skyjack machines to repaint the iconic marquee back to its original, circa 1930s' color.
Atlas Copco Appoints Product Specialists
Atlas Copco has appointed five new product specialists to several of its lines. Atlas Copco Dynapac has appointed Jerry Hackett to the position of regional sales manager – south central U.S., and Pat Burnham as product manager, heavy compaction. Odie Baca has accepted the position of product development specialist – central U.S. with Atlas Copco Construction Equipment. That group also has added Michael Sagermann as its business line manager in the U.S. for Portable Energy products, and John Garcia as regional channel manager, generators, for the western U.S.
Construction Hotbed: Multifamily Housing Up 38.4%
If your customers are involved in multifamily units, they're likely busy. The latest Census estimate shows significant gains in single-family and multifamily private residential construction spending from one year ago, reports Josh Miller on the National Association of Home Builders "Eye On Housing." Remodeling has dipped slightly, single family has flattened and is softening, while multifamily continues it's skyward trendline.
Lackmond Products Appoints Ted Skaff as Vice President of Marketing
Lackmond Products Inc. has named Ted Skaff, former Director of Marketing for Pearlman Group (Pearl Abrasive Co. and GranQuartz), as Vice President of Marketing. Overseeing the firm’s marketing and new business department, Ted will lead strategic growth initiatives within the United States, Canada and Latin America.
JLG Ultra Boom Lifts On Site at Oculus
Three JLG 1850SJ Ultra Boom lifts recently arrived in New York City to work on the highest reaches of the Oculus, the new transportation building that will serve the reborn World Trade Center complex and all of lower Manhattan.
Construction Industry Employment Hits 5-Year High
Construction industry employment reached a five-year high in August as the sector added 20,000 jobs and its unemployment rate fell to 7.7 %, the lowest rate for August in seven years, according to an analysis by the Associated General Contractors of America. Association officials cautioned, however, that the latest figures reinforce survey results the association recently released showing many contractors are having a tough time finding enough qualified workers.
Rouse Report: Auction Results, Rates Increase
Reporting on July numbers, Rouse Services says auction values were up 0.8%, while used equipment values slipped very slightly, down 0.2%. Rental rates, based on analyses of May numbers, increased 0.6%.
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