All Business & Finance Articles
Brazilian rental company A Geradora has entered the high-capacity power rentals market with an investment in 20 Cummins power units in 0.5 MW, 100 MW and 1.5 MW sizes.
Ashtead's first quarter results (three months ending July 31) show pretax profits up 211% (£34 million) over the same period in 2010. Higher than the whole year's profit to April 30 2011 (£31 million). Turnover has increased 12% to £268.6 million with Sunbelt's revenue up 20% and A-Plant's up 12%.
Hewden has appointed two new members to its management team based at its head office in Manchester. Mark Albiston has joined in the newly created role of operations director and Lyndsay Glover has taken up the position of head of human resources.
AUSA has opened a subsidiary in Dubai (UAE) to strengthen its sales presence in the Middle East and at the same time has appointed a new UK and Ireland country manager, Erik Broderstad, an ex-Hewden and A-Plant director.
US rental companies acted quickly to help those affected by the massive Hurricane Irene last week. With damage expected to reach US$10 billion in value and an estimated 5 million homes without electricity, there was enormous demand for temporary power as well as pumping capacity.
Japanese rental company Nikken said that around 13% of its fleet – 330000 items of equipment – is currently working on the clean-up following the March earthquake and tsunami.
KHL Group and Brazilian construction equipment association Sobratema will co-operate to promote each others' activities.
Loxam is to acquire Locarest - a major regional rental player in eastern France - boosting its revenues by around 7% and giving it an estimated 25% share of the French general rentals market. The acquisition price was not disclosed.
Aggreko said both its international power projects and local business divisions delivered good growth in the first half of the year, with revenues up 21% after excluding the impact of one-off major events in the same period in 2010.
Levendon Group has started a 12-18 month restructuring plan for its German business to improve returns, and will boost its Belgian and French fleets by transferring platforms from its Spanish operation, which is being closed.
Sir Anthony Bamford, chairman of JCB, and Kevin Parkes, chief executive of Hewden (sitting in the cab), met recently at JCB’s headquarters in the UK to mark the completion of the 400th new JCB machine for Hewden as part of the rental company’s £21 million investment in equipment this year.
The Australian competition commission is reviewing Coates Hire’s proposed acquisition of Tru-Blu Hire, a rental company based in Perth, Western Australia with around 22 depots.
Australia’s Onsite Rental Group has opened a new location in Geelong and said it represented a milestone in its expansion plans for Victoria state.
Alastair Robertson, owner of US aerial platform sales company Universal Equipment, has formed a new company to sell HH-Intellitech’s material handling units in North America.
Spanish news agency Europa Press has reported that rental company GAM is negotiating a new debt restructuring plan with its lenders having failed to meet financial targets set in February this year.
The top 75 customers for equipment rental in the UK last year reduced their total spend on rental by more than 10% last year according to the latest Plant Hire Investment Report by UK analyst Catherine Stratton.
Hydrex Equipment (UK) has sold its self-drive equipment rental division, Görrel, to the Walters Group, a engineering company and plant hirer in Hirwaun, South Wales.
Charles Wilson Engineers (CW Plant) has ordered 100 generating sets from FG Wilson (Engineering) Ltd.
Speedy Hire said it remained confident that its rental business was on course to benefit from substantial investment in industries such as power, water and telecommunications, despite the continued fragility of the UK economy.
Former Alimak Hek and Hek Manufacturing executive Ernst van Hek has established a new company called Van Hek & Partner to sell a variety of powered access machines in Austria and eastern Europe.
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