May 16, 2013

Deere Announces Record Second-Quarter Earnings of $1.08 Billion

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.

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Growth Slows Down for Strongco in First Quarter

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.

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HERC in Saudi Arabia Forms Partnership with APR Energy

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. The agreement provides APR Energy with immediate access to one of the largest power markets in the Middle East by leveraging Hertz’ business network, global brand name and established industry experience within the country, and offers Hertz Dayim Equipment Rental access to APR’s modern fleet of diesel and natural gas reciprocating engines and dual-fuel turbines.

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Bobcat Breaks Ground on $20 Million Expansion in Bismarck

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.

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

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.

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

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.

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Cat Dealer Altorfer Names CFO and Field Sales Manager

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.

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

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.

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HSS Hire Signs Exclusive Deal with Construction Company Carey Group

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.

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A-Plant Places 800+ Machine Order from JCB

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.

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United Rentals Announces Full Redemption of Convertible Securities and Debentures

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.

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

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.

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Lincoln Electric Welders Used by Actor Downey in Iron Man 3

Iron Man 3, the latest Marvel comics-inspired superhero film, released May 3 features Lincoln Electric welding equipment, used by actor Robert Downey Jr.’s character, engineering genius Tony Stark/Iron Man, to fabricate his signature armored suit, various tools and weapons as he prepares to fight the villain Mandarin. Lincoln Electric Power MIG welders can be seen in Tony Stark’s high-tech workshop.

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JLG Introduces Mobile App for Troubleshooting JLG Equipment

JLG Industries, an Oshkosh Corp. company and a global leading manufacturer of aerial work platforms and telescopic material handlers, this week announced the availability of the JLG Mobile Analyzer. The new tool combines a free mobile application and a wireless access module to provide technicians with remote access to program, troubleshoot, calibrate, or customize JLG equipment performance.

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LGH Launches Roust-A-Bout How-to Video

Lifting Gear Hire recently launched a new product demonstration video featuring a Roust-A-Bout. The video is available on the LGH YouTube page, www.youtube.com/liftinggearhire.

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EDCO Converts Product Literature to E-Brochures

EDCO has converted its paper product literature into E-Brochures, giving customers 24-hour access to catalogs, parts listings, owner’s manuals and other relevant information. Embedded inside these E-Brochures are videos, product links and web-training features. These brochures have replaced the PDF versions of the same literature.

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Sales Manager – EDCO
Branch Managers and Operations Manager – Sunstate Equipment Co.
Sale Representation – Rental Acquisitions LLC
Senior Customer Experience Professional – Noble Iron

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