In a sign that the trend toward equipment renting is not slowing down, the American Rental Association says the rental industry can expect a compound annual growth rate of 4.9% over the next few years. ARA’s five-year forecast predicts that U.S. rental revenue will top $57 billion in 2020, a significant increase over the $47.6 billion estimated for 2016.
A federal jury on Aug. 9 found Pacific Gas & Electric guilty of violating federal pipeline safety regulations before a fatal natural-gas pipeline explosion in San Bruno, Calif., in 2010 and, further, of obstructing investigators after the incident.
In a major step toward providing a common set of equipment data across mixed fleets, the telematics standard, which is being developed jointly by the Association of Equipment Manufacturers and the Association of Equipment Management Professionals, received approval on July 21 from the International Organization for Standardization (ISO) as a global standard.
Looking to realign its presence in Europe following the U.K.’s Brexit vote on June 23, India-based steel producer Tata Steel is in talks with German-based ThyssenKrupp AG and the British government about a possible joint venture for the European market.
As its separation from Hertz Car Rental finishes up, the newly rebranded equipment firm Herc Rentals celebrated with a ring of the opening bell of the New York Stock Exchange on July 1.