Archive for December 19th, 2009

Bomag, Reedrill Deals Finalized (2005-1-4)

Two deals announced late in 2004 were finalized recently. Terex Corp. completed its announced acquisition of the Reedrill division from Metso Corp. Reedrill, Sherman, Texas, manufacturers surface drilling equipment used in the mining, construction and utility industries, with estimated 2004 revenues of approximately $80 million. This transaction was completed on December 31, 2004. Reedrill will join Terex\'s Materials Processing and Mining group.The second deal has SPX Corp. completing the sale of its Bomag compaction equipment business to Fayat for $446 million in cash. The Fayat Group is a privately owned business in Bordeaux, France.(From Diesel Progress) … Continue reading

Doyle New President At Kohler Engines (2005-1-6)

James Doyle has been named president-Engine Business for the Kohler Co., effective Dec.1. He succeeds Richard Shoemaker, who served as Kohler Engines president since 2000. In this position, Doyle will provide strategic business leadership for Kohler Engines worldwide and will report to Dick Fotsch, president of the Global Power Group, which is comprised of Kohler Engines, Kohler Power Systems and Kohler Rental Power. Doyle comes to Kohler Co. from Fasco Industries, Inc., a division of Tecumseh Products Co. Most recently, he served as Group President-Fasco Industries, Inc. in Eaton Rapids, Mich., responsible for a business with 10 manufacturing locations, 5200 employees, and $450 million in annual sales.(From Diesel Progress) … Continue reading

Hiab grows on back of XS success (2005-1-6)

Load crane manufacturer says it delivered 11,000 cranes in 2004, which is a record for the company and 10% more than in 2003.\'We would have been selling even more if our production facilities had been able to cope with the volume,\'said marketing communication manager Harm-Jan Riksen.It attributes the rise partly to market growth but also to the success of its XS range of tailor-made cranes. The first XS cranes were introduced in 2000 but the whole product range of 40 models is being replaced by XS models, which is expected to take until the end of 2006 to complete. The XS concept is that each model can be offered specifically tailored to customers\' specifications. Customers can choose different boom configurations, as well as the capacity level and control system technologies best suited for the application.The newest models, recently presented to distributors, are the XS 099 (7tm to 10tm range), the XS… Continue reading

Philips & Temro Acquired By Equity Firm (2005-1-7)

Philips & Temro Industries (PTI), a supplier of engine intake, exhaust, emissions control and cold starting products and systems, has been acquired by Morgenthaler Partners, a private equity firm headquartered in Cleveland, Ohio. Financial details were not disclosed.Philips and Temro is an engineering-driven company with highly regarded brand names and a strong market position in a growing industry, stated Al Stanley, general partner at Morgenthaler Partners. The industry leadership position, combined with solid technical capabilities, patented technologies and an extremely strong commitment to quality, makes it a very attractive company. According to Stanley, Morgenthaler plans to look for additional companies to expand the PTI platform.With products sold under the ZeroStart, Temro, EM Products, Cowl and Cab Power brands, Philips & Temro is a supplier to the mobile on-and off-highway, stationary and marine engine markets. Headquartered in Eden Prairie, Minn., Philips & Temro also operates two facilities in Winnipeg, Manitoba, and a… Continue reading

PACCAR Donates $1 Million for Tsunami Relief Efforts (2005-1-8)

PACCAR announced it was making a $1 million contribution to the American Red Cross-Tsunami Disaster Relief Fund to support humanitarian efforts for those impacted by the Indian Ocean tsunami, which occured in late December. Coordinating with other relief agencies, the American Red Cross is delivering critical aid to this region, including food, shelter and other relief supplies.PACCAR manufactures and distributes premium commercial vehicles and aftermarket parts to over 100 countries, including those affected by these events. "This tragedy has had a terrible impact throughout Asia and the east coast of Africa," said Mark C. Pigott, chairman and chief executive officer. "ALL PACCAR employees worldwide send their prayers and support to the families impacted by the devastation."(From Yahoo) … Continue reading

Deere to expand operations in Pune, India (2005-1-10)

Deere & Co. said that it plans to expand its operations in Pune, India, with the opening of a company-owned business processes and engineering center later this year. The facility will provide information technology and engineering support services for the company\'s operations worldwide. Deere currently has a tractor manufacturing joint venture with Larsen & Toubro Ltd. Deere said that the Pune center will support the company\'s global growth strategy as well as extending Deere\'s overall capacity for information technology and engineering services while improving its cost structure.At start-up, the center will have approximately 100 employees. Current employees are not expected to be affected by the opening of the new center as retirements, normal attrition and expanding capacity requirements will permit a gradual ramp up of activities in Pune, Deere said. Some information technology and engineering functions that are currently outsourced may be impacted as those activities are transitioned back inside the… Continue reading