Rental Equipment Register

Ahern Rentals Seeks Bankruptcy Court Approval of $415 Million Exit Loan

Mon, 20 May 2013 22:23:00 +0000

Ahern Rentals has asked a Nevada bankruptcy judge to approve a $415 financing package from Jeffries Finance LLC to fund its Chapter 11 exit, according to Law360. The papers were filed with the U.S. Bankruptcy Court for the District of Nevada May 19.

Aggreko Opens Midland, Texas, Branch

Mon, 20 May 2013 17:48:00 +0000

Aggreko, global leader in temporary power generators, temperature control and oil-free compressed air solutions, has opened a new branch in Midland, Texas.

Rental Industry Veteran Paul Powers Jr. Dies

Fri, 17 May 2013 21:33:00 +0000

Rental industry veteran Paul Powers Jr. died this week, just a few days short of his 84^thbirthday.

Hawthorne Schedules Customer Demo Day

Fri, 17 May 2013 21:32:00 +0000

San Diego-based Caterpillar dealer Hawthorne Cat has scheduled a “Get In, Get Real” demo day event June 20, allowing participants the opportunity to test and compare the newest Cat equipment in real-world conditions, ask questions of Caterpillar personnel and participate in hands-on demonstrations.

Birch Equipment Rentals Honored as Arthritis Foundation Community Partner

Fri, 17 May 2013 21:30:00 +0000

Birch Equipment was recently honored as a 20-year Arthritis Foundation Community Partner for its involvement as a Jingle Bell Run sponsor, participating in the annual run with a Birch Equipment Team and being part of the foundation’s golf tournament.

Japanese Rental Companies Form Joint Venture for Used Equipment Sales

Fri, 17 May 2013 21:29:00 +0000

Four of Japan’s largest construction equipment rental companies have teamed up with Mitsubishi Corp. to establish a joint venture company, Diamond Construction Machinery Corp., to sell hydraulic excavators in the international used equipment market. The four companies — AKTIO Corp., Kanamoto Co., Nishio Rent All Co. and Nikken Corp., have formed the venture as a means to sell used Tier 4 machinery that requires low-sulfur diesel fuel that is not widely available in Asia.

Speedy Hire Posts Profit and Revenue Increase in Fiscal 2013

Fri, 17 May 2013 21:28:00 +0000

Speedy Hire, the U.K.’s largest equipment rental company, posted £340.3 million (about U.S. $516.3 million) a 4.3-percent year-over-year revenue increase in fiscal 2013, ended March 31. Speedy’s adjusted profit before tax was £16.8 million, a 35.5-percent increase compared to £12.4 million in fiscal 2012. Business was particularly strong in the second half of the year, with adjusted profit in the second half of £10.2 million, compared to £6.6 million in the first half.

RusRental Releases Report on Russian Tower Crane Rental Market

Fri, 17 May 2013 21:27:00 +0000

RusRental, the Russian Rental Association has conducted a first-ever survey of the Russian tower crane rental market, preparing a top 10 list of the largest Russian tower crane rental companies. The majority of the largest players are located in the Central and Northwestern areas of Russia, primarily Moscow and St. Petersburg.

Toro Announces Fiscal 2013 Second-Quarter Earnings Call

Fri, 17 May 2013 21:25:00 +0000

The Toro Co. will release its fiscal 2013 second-quarter results on Thursday, May 23, at 7:30 a.m. Central daylight time. The company will also hold its investor earnings call on that day.

A live, listen-only webcast of the quarterly conference call will also be available on www.thetorocompany.com. The call begins at 10 a.m. CDT on May 23, and visitors are advised to go to the website at least 15 minutes early to register, download and install any necessary audio software.

Terex Repays $220 Million of Senior Term Bank Debt

Fri, 17 May 2013 21:23:00 +0000

Terex Corp. last week announced that it has repaid $220 million of the company’s senior term bank debt due 2017, effective immediately.

Caterpillar and Mining Machinery Limited Reach Agreement Related to Siwei Acquisition

Fri, 17 May 2013 20:56:00 +0000

Caterpillar Inc. and Mining Machinery Limited announced today that they have resolved all outstanding issues between them arising out of Caterpillar's acquisition of ERA, including its wholly owned subsidiary Zhengzhou Siwei Mechanical & Electrical Manufacturing Co., commonly known as Siwei. Caterpillar reached this agreement with two former directors of ERA, Emory Williams and John Lee, and two other parties with an interest in the settlement, Mining Machinery Limited and James Thompson III (collectively the MML Parties).

CNH Enhances Electrical Design Capabilities with Mentor Graphics Capital and VeSys Software

Fri, 17 May 2013 20:55:00 +0000

CNH, the agricultural and construction equipment maker, recently transitioned to the latest VeSys software platform and added a number of compatible tools from the Mentor Capital software suite. The new software from Mentor Graphics Corp. resulted in a very modern design environment.

Daedong Celebrates Anniversary with New EPA-Certified Engine

Fri, 17 May 2013 20:53:00 +0000

Daedong Industrial Co., manufacturer of the Kioti brand, celebrates 66 years of driving clean technologies on May 20, a month after its newly launched Tier 4 ECO engine was Environmental Protection Agency certified. The certification makes Daedong Industrial the first South Korean Tier 4 engine manufacturer to receive the EPA certification, the company said.

Daedong Industrial is now a global enterprise, comprising local corporations in the United States, China and Europe. Daedong Industrial’s export brand is Kioti.

Expanding Our Fleet

Fri, 17 May 2013 20:51:00 +0000

RER interviewed dozens of rental company executives in preparation for this year’s RER 100, and will publish portions of some of the interviews in RER Reports. In this Q&A, RER speaks with Barry Natwick, chief operating officer of Volvo Rents, No. 7 on the new RER 100.

RER: What were the keys to Volvo Rents’ growth in 2012?

The Stock Block

Fri, 17 May 2013 20:39:00 +0000

Check in on some of the latest stock prices for publicly traded rental companies and popular construction equipment and general tool manufacturers related to the rental equipment industry.

Volvo Rents Opens 12th Location in Texas

Fri, 17 May 2013 15:50:00 +0000

Volvo Rents has opened a new rental center in Selma, Texas, the company’s 12^thin the state. The new branch is the latest move in the company’s continued expansion of its Texas rental business portfolio. It also comes on the heels of a recent report by the Associated General Contractors of America that says Texas leads the nation in the increase of construction jobs.

National Trench Safety Acquires Dallas-Based Traffic Safety Specialist

Fri, 17 May 2013 15:48:00 +0000

National Trench Safety, a Houston-based company specializing in the rental and sales of trench and traffic safety equipment, as well as OSHA-compliant training classes, has acquired certain operating assets of Ennis Traffic Safety Center One Stop retail operation in Dallas.

Revenues Leap 48 Percent for WesternOne in First Quarter

Thu, 16 May 2013 19:11:00 +0000

WesternOne Rentals & Sales posted organic first quarter growth of 19.4 percent in revenue and 14.2 percent in adjusted EBITDA compared with the first quarter of 2012. The company attributed the growth to incremental returns from investments in aerial equipment and recently launched construction heat branches in Prince George and Kelowna, B.C., Canada, as well as strong demand for construction heat services because of the cold winter in early 2013.

Deere Announces Record Second-Quarter Earnings of $1.08 Billion

Wed, 15 May 2013 21:43:00 +0000

Deere & Co. this week said its fiscal second-quarter sales and income were the highest for any quarterly period in company history. Net income attributable to Deere & Co. for the second-quarter 2013 was $1.08 billion, or $2.76 per share, for the second quarter ended April 30, compared with $1.06 billion, or $2.61 per share, for the same period last year. For the first six months of the year, net income attributable to Deere & Co. was $1.73 billion, or $4.41 per share, compared with $1.59 billion, or $3.91 per share, last year.

Growth Slows Down for Strongco in First Quarter

Wed, 15 May 2013 21:42:00 +0000

Strongco posted a 0.7-percent revenue increase in the first quarter to CDN $97.5 million (about U.S. $95.9). Gross margin was $18.7 million, compared to $19.4 million for the first quarter in 2012. EBITDA was $6.5 million, compared to $7.8 million a year ago. The company posted a net loss of $2.2 million compared to net income of $1.1 million a year ago.

HERC in Saudi Arabia Forms Partnership with APR Energy

Wed, 15 May 2013 21:41:00 +0000

APR Energy and Hertz Dayim Equipment Rental, the joint venture between Hertz Equipment Rental Corp. and Dayim Holdings Company Ltd. have formed a partnership agreement to develop business for fast-track power solutions in Saudi Arabia.

Bobcat Breaks Ground on $20 Million Expansion in Bismarck

Wed, 15 May 2013 21:36:00 +0000

Bobcat Co. has officially broken ground on its $20 million renovation and expansion to create the Acceleration Center in Bismarck, N.D. When complete, the Acceleration Center will be a modern complex for advancing innovation where professionals utilize technology and modern design.

Wajax Revenue Drops 6 Percent in Q1 on Weaker Mining and Oil-and-Gas Revenues

Wed, 15 May 2013 21:35:00 +0000

Wajax posted a 6-percent decrease in first-quarter revenue, dropping to CDN $336.3 million (about U.S. $330.6 million). Wajax Equipment revenue dropped 2 percent. Lower mining equipment sales more than offset gains in equipment sales in the construction, forestry and material handling sectors and a 12-percent increase in parts and service volumes. Wajax Power Systems and Wajax Industrial Components recorded decreases of 17 percent and 4 percent respectively, primarily on weaker activity in the oil and gas sector in western Canada.

Atlas Sales & Rentals Opens Offices in Miami, Oklahoma City and Austin, Texas

Wed, 15 May 2013 21:33:00 +0000

Atlas Sales & Rentals, a leading distributor of portable air conditioning equipment for the non-residential market, has opened full-service offices in Miami and Oklahoma City. A third office in Austin, Texas, opened by Atlas last year, has relocated to a larger facility. Products offered include the complete line of MovinCool spot coolers and other portable equipment for cooling and heating applications.

Cat Dealer Altorfer Names CFO and Field Sales Manager

Wed, 15 May 2013 21:32:00 +0000

Iowa Caterpillar dealer Altorfer Inc. has named Corey Nuehring vice president of financial services and chief financial officer, after serving as the company’s controller for 11 years. Neuhring earned his bachelor’s degree in accounting and a minor in economics at the University of Northern Iowa.

U.K.’s A-Plant Acquires Temporary Access Provider Eve Trakway

Wed, 15 May 2013 21:30:00 +0000

A-Plant, one of the U.K.’s largest equipment rental companies, has acquired the entire share capital of temporary access specialist Eve Trakway, which will continue to trade under the same brand and operate as a separate division of A-Plant. A-Plant is a subsidiary of Ashtead plc, which also owns Sunbelt Rentals, the second-largest rental company in the United States.

HSS Hire Signs Exclusive Deal with Construction Company Carey Group

Wed, 15 May 2013 21:29:00 +0000

HSS Hire, one of the U.K.’s largest equipment rental companies, has signed an exclusive agreement with Carey Group, an independently owned construction company, as a preferred supplier of small tools and access equipment, following a competitive tender process. According to the agreement, HSS will manage and maintain Carey Group’s equipment rental requirements throughout its U.K. operations.

A-Plant Places 800+ Machine Order from JCB

Wed, 15 May 2013 21:28:00 +0000

JCB announced it has won an order for more than 800 machines from A-Plant, one of the U.K.’s largest rental companies. The deal is believed to be worth more than £27 million (more than U.S. $41 million). A-Plant has placed the order for a fleet of micro, mini and midi excavators and 240 Loadall telescopic handlers.

All of the machines will be constructed in JCB’s U.K. factories in Staffordshire. Delivery of the fleet to A-Plant’s branch network will begin this month through JCB dealer, Greenshields JCB.

United Rentals Announces Full Redemption of Convertible Securities and Debentures

Wed, 15 May 2013 21:27:00 +0000

United Rentals this week announced that its subsidiary has given notice of its intention to redeem $14,681,750 principal amount, representing all of the remaining outstanding 6 ½-percent Convertible Quarterly Income Preferred Securities due Aug. 1, 2028, on June 13, 2013. The Trust will redeem the Preferred Securities with proceeds from the redemption by URI of all of its remaining outstanding 6½-percent Convertible Subordinated Debentures due Aug. 1.

CNH Parts & Services to Expand Lebanon, Ind., Operations

Wed, 15 May 2013 21:25:00 +0000

CNH Parts and Service, the product support division of agricultural and construction equipment maker CNH Global, plans to expand its Lebanon, Ind., operations, creating up to 100 new jobs by 2014.

The company will invest $13.3 million to lease and equip a 153,000-square-foot facility in the Lebanon Business Park, bringing the company’s footprint at the site to 1.2 million square feet in three buildings. The new facility, which will be fully operational by 2014, will include a new command and control operation for the company’s parts delivery system.