Related Links: Why Contractors Are Renting More and Buying Less United Rentals To Buy RSC for $1.9 Billion United Rentals Inc. finalized its $4.2 billion in cash-and-stock purchase of RSC Holdings Inc. on April 30. The deal—first announced in December—includes $2.3 billion in assumed net debt. It is believed to be the largest equipment-rental company merger in history. In part due to the significance of the deal, company executives say they are weighing a possible name change.The purchase received 83% shareholder approval. The deal gives RSC shareholders $10.80 in cash per share and 0.2783 of a share of United common
Photo Courtesy Schwing America Inc. Schwing America emerged from Chapter 11 bankruptcy in 2010. Its German parent is now being acquired by China-based XCMG. China's Xuzhou Construction Machinery Group, or XCMG, is acquiring a majority stake in Germany's Schwing Group GmbH. The deal, announced at the Intermat construction show in Paris last month, confirms earlier reports in ENR and falls on the heels of another Sino-German acquisition, that of Putzmeister Holding GmbH by Sany Heavy Industry Co. Ltd.German management will remain in charge, said XCMG in a statement. The 78-year-old Schwing brand name is a critical part of XCMG's "strategic
Courtesy Volvo Trucks North America Mean Green beat its own speed records last month at Wendover Airfield in Utah. Related Links: New Natural-Gas Pickup Trucks DOE's Chu at the Green Truck Summit Proving once again that green technology and performance can come in the same package, Volvo has shattered its own record for the world's fastest hybrid truck.The Sweden-based company's modified diesel-electric haul tractor, dubbed "Mean Green," beat its own top speed April 27 at Wendover Airfield in Utah.The truck, which is equipped with a diesel engine and electric motor that generate a combined 2,100 horsepower and 5,000 lb-ft of
Courtesy Joe Woolhead/Silverstein Properties New York City is moving to a national testing model for licensing crane operators. Related Links: In One Week, Crane Operators Receive A License to Learn Video: Learning to Fly Crane regulation in New York City has had its ups and downs, but the city hopes to make work safer by boosting the requirements of operators working there. One part of the city's controversial new licensing program, announced earlier this month, is outsourcing crane operator exams to the private sector. The move has attracted praise and criticism alike.By July 1, 2013, all crane operators working in
Photo courtesy of Schwing America Inc. Schwing is a major manufacturer of concrete pump trucks, stationary pumps, truck mixers and batch plants. Related Links: XCMG Said Taking Stake in Schwing XCMG Buys Majority in Schwing (Reuters) China's Xuzhou Construction Machinery Group, or XCMG, has acquired a majority stake in Germany’s Schwing Group GmbH, news agency Reuters says. The deal confirms earlier reports in ENR during the "World of Concrete" show in Las Vegas.German management will remain in charge, said XCMG Chairman Wang Min in a statement. The 78-year-old Schwing brand is a critical part of XCMG’s “strategic development" for expanding
Related Links: The Top 10 Equipment Rental Companies Contractors are facing tough times. Many have scaled back, cut costs and adapted to doing more with less in order to survive.As a result, equipment rentals are flourishing as a means of lowering overhead expenses by trimming debt, licensing fees, taxes, insurance and maintenance."Although it may seem counterintuitive, rental companies should be heartened by all this uncertainty," says Frank Manfredi, president of equipment research firm Manfredi & Associates, Mundelein, Ill. "The uncertainty will drive equipment users to use rentals more and more."One company that has benefitted from the weak economy is United
Courtesy of Shell Lubricants New tests under development for diesel-engine lubricants may have separate criteria for traditional engine oils and new lubricants intended to improve fuel efficiency. Related Links: First Fuel-Economy Standards Hit Construction Trucks How Manufacturers Are Meeting EPA Tier 4 Engine manufacturers, the oil industry and engine lubricant makers are developing a new category of oils for diesel engines to help meet tomorrow's emission and fuel economy standards.The U.S. Environmental Protection Agency and the National Highway Traffic Safety Administration announced in August 2011 that they will begin regulating in 2016 fuel economy and greenhouse-gas emissions for on-road trucks.
Ford Motor Co. Starting in 2013, Ford will bring its European-style Transit van to North America. Ford Motor Co. Since the 1960s, Ford has sold more than eight million E-Series vans. Related Links: Ford's F-150 Targets 23 Miles Per Gallon Battle of the Vans Rages On It's nearly the end of an era for Ford's E-Series work van, the trusty steed of plumbers, electricians and painters for more than 50 years.As the sunset approaches on the E-Series, Ford says it will offer its replacement, the rear-wheel-drive Transit, with a 3.5-liter, direct-injection, EcoBoost V-6 engine.The EcoBoost V-6 has become a popular
Tudor Van Hampton Energy Secretary Chu speaks at the Green Truck Summit, held at this year's Work Truck Show. Tudor Van Hampton Commercial fleets have adopted CNG and propane more than any other alternative fuel, according to NTEA. Related Links: Concrete Mixer Saves Money With Natural Gas DOE's Chu Defends Decision to Support Solyndra Natural gas is "no longer a debate" for fueling commercial vehicle fleets, said U.S. Dept. of Energy Secretary Steven Chu at this year's Green Truck Summit, which opened March 5 in Indianapolis.Chu likened America's fuel crisis to a beef-eater who can no longer afford to buy
Tudor Van Hampton U.S. machinery exports rose 43% last year as construction starts remained sluggish. Sany America Inc. Sany late last month assembled its first excavator in the U.S. at its Peachtree City, Ga., plant. Related Links: Cat Shifts Some Production Back to U.S. While U.S. construction starts slipped slightly last year, machinery exports grew by double-digit percentage points, with shipments to Canada, Australia and Latin America leading the way.This 43% export increase, reports the Association of Equipment Manufacturers, follows a 28% rise in 2010 after a steep 38% decline in 2009."Export sales continue to help U.S. construction equipment manufacturers
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