A proposed sale of one of Canada's largest general contracting companies to a Chinese firm has been blocked by the federal government, which stated that such a sale might infringe upon national security.
Industry News News
Ocean debris – particularly ocean plastic – was the focal point of the Ocean Summit sponsored by the Volvo Group. The summit took place in conjunction with the Volvo Ocean Race stopover in Newport, Rhode Island. Along with the Volvo Group, the summit was sponsored by 11th Hour Racing, the Mirpuri Foundation, AkzoNobel, the Ocean Family Foundation, Bluewater and Stena Recycling. The official partner in Newport is Sail Newport, a nonprofit organization that promotes easy and affordable access to sailing.
XCMG has seen its earnings almost quadruple over the last year as global economic recovery has continued, and infrastructure investment in China has increased demand for equipment including excavators, loaders and forklift trucks. The company, China's biggest exporter of construction machinery, is predicting solid growth in 2018 on the back of continued improvement in global markets despite rising trade friction between the United States and China.
DEUTZ Corporation and Terex AWP, a business unit of Terex Corporation that includes the Genie brand, have aligned forces to establish DEUTZ Power Centers as authorized service and parts centers for Genie-branded mobile elevated work platforms (MEWPs). Staff at DEUTZ Power Center locations in Chicago, Ill., St. Louis, Mo., Kansas City, Mo. and Rock Hills, S.C., are trained and equipped to perform service, warranty, unplanned repairs and supply service parts for Genie Z and S booms, GS scissors lifts and GTH telehandlers.
John Deere and Hitachi Construction Machinery are celebrating more than three decades of their longstanding joint venture, the Deere-Hitachi Construction Machinery Corporation. Since the start of operations as a joint venture in 1988, Deere-Hitachi has manufactured over 55,000 hydraulic excavators for the North, Central and South American markets.
Deere & Company reported net income of $1.208 billion for the second quarter ended April 29, 2018, or $3.67 per share, compared with net income of $808.5 million, or $2.50 per share, for the quarter ended April 30, 2017. For the first six months of the year, net income attributable to Deere & Company was $673.2 million, or $2.05 per share, compared with $1.007 billion, or $3.14 per share, for the same period last year.
Hyundai Construction Equipment Americas has added Chad Parker to the marketing team. Parker will serve as Sr. Product Specialist and Sales Trainer for wheel loaders and compaction rollers with a secondary focus on other Hyundai products. He will report directly to Corey Rogers, Marketing Manager.
NTEA is introducing an enhanced member benefit and business planning tool — Work Truck Industry Financial Benchmarking Survey. This research initiative gathers financial and operating ratio information from truck equipment manufacturers and distributors to produce the industry's most comprehensive benchmarking study.
Bomag Americas has named Matt Cadnum as their new Vice President of Sales & Marketing. Cadnum will be responsible for the strategic sales leadership and support of Bomag's dealer and rental channel partners, marketing, product management and cultivating new business development growth opportunities.
Volvo Construction Equipment's (Volvo CE) North American dealer network has seen a number of changes over the last year. Dealerships have changed hands, territories have expanded and new players have emerged on the scene to sell the company's premium equipment and offer its services. The moves all help deliver customer value in three key areas: uptime, unique customer solutions and machine life cycle value.
The Volvo Group is sponsoring an Ocean Summit during the Volvo Ocean Race stopover in Newport, Rhode Island, to educate attendees about ocean health issues, with a focus on plastic pollution. The summit, scheduled for Friday, May 18, is also sponsored by 11th Hour Racing, the Mirpuri Foundation, AkzoNobel, the Ocean Family Foundation, Bluewater and Stena Recycling. The official stopover partner in Newport is Sail Newport, a nonprofit organization that promotes easy and affordable access to sailing.