Archive for February 25th, 2010

Oshkosh Truck sales, earnings rise (2005-8-4)

Oshkosh Truck Corp. reported earnings growth in its fiscal third quarter that beat analysts\' and company estimates.Oshkosh Truck reported net income for the fiscal third quarter of $38.7 million, or $1.05 per share, compared with $30.6 million, or 85 cents per share, for the same period a year ago.Third-quarter results include an after-tax charge of $3 million, or 8 cents per share, for workforce reductions in its European refuse truck business. Excluding the charge, earnings were $1.13 per share.Earnings exceeded Oshkosh Truck\'s own estimates for the quarter of $1.03 per share in earnings and sales of $794 million. Analysts polled by Thomson First Call were expecting $1.08 per share on average.Net sales for the Oshkosh-based manufacturer of specialty trucks and truck bodies increased 37 percent to $818.9 million from $599.8 million a year ago.Oshkosh chairman, president and CEO Robert Bohn said defense parts and truck revenue growth were significant contributors to… Continue reading

Nissan Diesel To Double Stake In Chinese Truck Venture (2005-8-5)

Nissan Diesel Motor Co. said it plans to raise its stake in a Chinese truck manufacturing joint venture from 25% to 50%, according to Japanese press reports. The report says Nissan Motor Co. plans to increase its holdings in Dongfeng Nissan Diesel Motor Co., a joint venture with Chinese vehicle manufacturer Dongfeng Motor Corp. group, Japanese trading house Sumitomo Corp. and Singapore\'s Tan Chong group. Nissan Diesel has reportedly received approval from Chinese authorities for the increase. Nissan Diesel plans to purchase a combined 25% of outstanding shares in the joint venture from Sumitomo and the Tan Chong group. It will take control of the unit\'s operations by also sending an executive to become president.Dongfeng Nissan Diesel Motor manufacturers large trucks, receiving technological support and parts from Nissan Diesel. In 2004, it sold about 820 vehicles and logged sales of about $42 million. Nissan said with the increase in holdings it… Continue reading

Caterpillar To Remanufacture For Land Rover (2005-8-5)

When Caterpillar Inc. formed its Caterpillar Remanufacturing Services group last year it said the automotive world was one of the organization\'s major targets. Now, Caterpillar Remanufacturing has announced a memorandum of understanding with Land Rover to act as Land Rover\'s lead global remanufacturing services providers. Cat Reman will be a preferred supplier for Land Rover\'s remanufacturing products and services, providing core management and remanufactured product development and product supply.Land Rover currently works with a number of remanufacturing sources. Among them is U.K.-based Wealdstone Engineering, which was acquired by Cat Reman last year. Cat Reman also has been handling Land Rover\'s core management at its European Remanufacturing Center in Shrewsbury, England.(Source: Diesel Progress) … Continue reading

Construction equipment maker plans $400m IPO (2005-8-5)

China Infrastructure Machinery Holdings, a mainland construction equipment maker, hopes to raise more than HK$400 million next month in an initial public offering in Hong Kong, according to market sources.Two other mid-size offerings are already planned for September, with mainland watch distributor Xin Yu Hengdeli planning to raise HK$200 million to HK$300 million. China Hai Sheng Holdings, the country\'s largest apple juice concentrate producer, hopes to sell shares worth about HK$300 million. CLSA is arranging the Hai Sheng sale while Guotai Junan (Hong Kong) is the sponsor and the sole bookrunner for Xin Yu Hengdeli.China Infrastructure Machinery, which picked Cazenove Asia as its sponsor, will use the funds raised in the IPO to fund capital spending, including the construction of new factories.It currently operates two plants in Shanghai and Fujian province, with annual production capacity of 15,000 wheel loaders and 2,000 road rollers.The company has profited from China\'s booming economy and… Continue reading

Case passed half million mark in production of loader backhoes (2005-8-8)

Case Construction Equipment, manufacturer of one of the world\'s top loader backhoes, recently hit an industry first with production of the 500,000th Case loader backhoe."Case has set the standard in loader backhoe for nearly 50 years," said Robin Killian, vice president of sales and marketing at Case Construction Equipment. "Since it manufactured the world\'s first factory-integrated tractor loader backhoe, the Case 320, in 1957."In the years since, Killian said, Case has continud its leadership with a list of productivity-increasing industry firsts for these versatile machines that includes Extendahoe, loader self-leveling and loader return-to-dig, over-center backhoe, power shuttle forward/reverse shifting without clutching, Ride Control and Pro Control with swing dampening.The current lineup of Case loader backhoes is the Case M Series 2, which includes the 580M, 580M Turbo, 580 Super M, 580 Super M+ and 590 Super M models. These five Case models range in horsepower from 76 to 98 hp with… Continue reading

Iveco Motors Service Training Seminar (2005-8-8)

Iveco Motors of North America Inc., a subsidiary of Iveco Motors, a leading diesel engine manufacturer, sponsored a service-training program where distributor technicians gained a thorough knowledge of Iveco engine electronic equipment and Bosch fuel injection systems. The joint seminar was held Feb. 22-24 at Iveco\'s North American Headquarters in Carol Stream, Ill., and at the Bosch facility in Broadview, Ill."Bosch and Iveco Motors\' close relationship allowed the collaboration of a joint seminar where service technicians were able to further their expertise through hands-on training," says John Madey, product manager, Iveco Motors of North America. "We appreciate Bosch\'s dedication to our engine market and distributors and we look forward to teaming up again for more service training opportunities."The seminar was led by the experienced staff of Iveco Motors of North America for distributor and OEM\'s technicians. This was done through a classroom format, as well as hands-on diagnostic and repair session… Continue reading