KBC Asset Management NV, a Brussels-based private investment manager, filed a lawsuit on Dec. 27 against Vulcan Materials Co. for not acting on a hostile takeover bid earlier in the month by rival Martin Marietta Materials Inc. that would have created the world's largest rock and gravel supplier."The exchange offer provides significant bird-in-hand value to Vulcan's shareholders in light of Vulcan's poor performance over the recent periods," says KBC's lawsuit filed in U.S. District Court in Birmingham, Ala. The Belgian firm owns over 44,000 shares of Vulcan, which has lost money three of the last four quarters. Martin Marietta stock,
Tudor Van Hampton for ENR Don Ahern is a fixture at equipment shows such as World of Concrete. Photo by Tony Illia Contractors praise independents like Ahern for personal service and locations that national chains do not reach. Ahern Rentals Inc., the 58-year-old family-owned equipment rental giant that filed for voluntary Chapter 11 bankruptcy on Dec. 22, prided itself on not selling out. Now, at the U.S. Bankruptcy Court in Reno, Nev., Ahern's Chapter 11 proceedings unfold on the heels of an announced merger between the construction industry's two largest rental companies—United Rentals Inc. and RSC Holdings Inc.—which for more
This week in construction products we look at tower cranes with redesigned control systems and a versatile LED lamp for trucks and heavy equipment. Click on the image to begin the slide show.
After a bump, the demolition of Seattle's Husky Stadium is moving ahead.Despite stressing a crane to the point of damage when dismantling the overhanging roof on the south side of Seattle’s Husky Stadium, Turner Construction Co., the project's general contractor, was able to continue roof demolition from the grandstand seating area, says Richard Teddy, Turner’s senior project manager.Demolition crews utilized cables and a cutting shear on a high-reach extendable track-hoe to remove the roof and upper seating areas, which are being demolished and hauled out for recycling. No additional crane was needed. Demolition crews will now work into February removing
This week we look at an air-powered saw for cutting boiler tubes and a quieter cab design for soil compactors. Click the image to begin the slide show.
YouTube Video shows crane near miss at Husky Stadium at the University of Washington in Seattle. Related Links: Watch the Video A video of Seattle's Husky Stadium roof demolition went viral on the web as fans clamored to get a look at the start of major renovations at the famed 90-year-old structure. But a near miss captured in that same video also got the attention of the Washington State Dept. of Labor and Industries, launching an investigation into the operation of a crane there.The video clearly shows a massive jarring, or shock-loading, to a crane while the east portion of
Related Links: Terex To Appeal Patent Verdict Link to the '618 Patent The stakes are rising for Terex Corp. and other manufacturers as it soldiers on to defend an important patent-infringement case relating to its line of Powerscreen-brand equipment.A judge in a federal court in New York City on Dec. 9 awarded $31.6 million to Metso Minerals Inc., affirming a jury decision last year and doubling the jury's original award damages of nearly $16 million."All of Terex's motions to overturn the jury verdict were denied," says Michael Stuart, a New York City-based attorney at Cozen O'Connor, Philadelphia, which represents Metso.
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