Archive for March 17th, 2010

First foreign-funded railway to be started by year-end (2005-9-16)

The US-based New Energy Investment has bid for a Chongqing railway project, promising a total of 300-500 million yuan investment to build the Fuling sections of Nanfu railway and Fuli railway, according to an article carried on International Finance News. Currently, the US company has signed a contract of intent with Fuling Foreign Trade and Economic Commission. If everything goes smoothly, the first foreign-funded railway in China will be started by the end of this year. Jia Wenquan, a high-ranking official with the US company responsible for Asian-Pacific operation, said during an interview with International Finance News that they found this project at the Xiamen fair (ninth China International Investment and Trade Fair) a few days ago. Chongqing is a populous city with rich energy, which means huge investment potential in the local transportation. The initial calculation shows that the total investment of Nanfu railway totaled 2.1 billion yuan. And the… Continue reading

The forklift industry of China will be reranked (2005-9-16)

Since this year, the competition of forklift industry market of China is intensified. China National Heavy Duty Truck Corp. and Jianghuan Automobile, etc. came into this field one by one; meanwhile, many foreign forklift giants such as Italy OM Corp., Finland Rocla Inc, etc. forestalled Chinese market. After prosperity, Chinese forklift industry will be re-ranked.Wenzel, the General Manager of Linde (China) Forklift Corp. thought that Chinese forklift market had developed greatly in recent years, and many enterprises developed quickly and improved largely on products technology and operation opinion. Now, of world 10 giants, there are six has entered into Chinese market which are fastening their distribution in Chin a. In future several years, China will be the largest forklift market in the world, and Chinese market will be one of the heart areas where Linde Group develops future.But Chinese forklift industry now is hotter, in future, some enterprises will be culled… Continue reading

Oshkosh Truck receives $11.4 million defense order (2005-9-17)

Oshkosh Truck Corp. has been awarded an $11.4 million order for logistic support packages for U.S. Army heavy tactical trucks. The U.S. Department of Defense said Thursday that work on the firm-fixed-price contract modification will occur in Oshkosh, with delivery by Dec. 31, 2006. The sole source contract was initiated April 28, 2005. Oshkosh Truck, a manufacturer of fire and emergency, defense and other specialty trucks, will supply the packages for heavy expanded mobility tactical trucks, which are manufactured by the Oshkosh-based firm. The contract was awarded by the U.S. Army Tank-Automotive and Armaments Command, Warren, Mich. (source:aem) … Continue reading

Terex to Complete Restatements Soon (2005-9-17)

Terex to Submit Delayed Financial Statements to SEC \'In the Next Several Business Days\' Construction equipment maker Terex Corp. on Thursday said it expects to submit reports for fiscal 2004 and restated prior quarters to the Securities and Exchange Commission "in the next several business days." Terex, which hasn\'t filed a financial report with regulators since August 2004, said it is in the "final stages of internal and external review." The company has been working to correct accounting errors dating back to 2000.The company also said Thursday that its lenders have extended the deadline to report financial statements for 2004 and the first two quarters of 2005 until Oct. 15. A previous default waiver was set to expire today.When the 2004 and prior quarterly reports are in, Terex said its 2005 quarterly statements will be filed "as soon as practicable thereafter," in keeping with the lenders\' deadline.In previous disclosures, Terex has… Continue reading

Belgian crane rental firms unite (2005-9-17)

Kranen Michielsens nv and Van de Weghe nv, two crane rental companies from Antwerp, Belgium, have joined forces to form a single mobile crane rental company.The new company will trade under the name of Kranen Michielsens. Kranen Michielsens will be responsible the commercial and the operational wings. The commitment of the Van de Weghe family will be on holding level.The newly-formed group has six Belgian offices (in Antwerp, Brussels, Charleroi, Gent, Houthalen, and Luik), and one Dutch office (in De Meern). The united group has 210 cranes in capacities from 7t to 700t. Without a doubt this concern will be number one in Belgium. On a European level this new group enters the top 10 and the top 20 on a global level, the company claimed.(source:aem)Both companies said there would be no job losses as a result of the merger.Under the deal, Van de Weghe Concrete Erection, Industrial Maintenance & Removal… Continue reading

Ramirent buys Hungarian crane rental company (2005-9-17)

Finnish rental company Ramirent has bought Agentrade-Plusz Kft (Agentrade), one Hungary\'s largest rental companies for an undisclosed sum. Agentrade has 18 outlets across Hungary employing 88 staff with net sales of around €6.3m last year.Ramirent plans to combine Agentrade with its operations in Hungary. The management team of Agentrade will remain.The board of directors of Ramirent has decided to direct to the sellers of Agentrade a new issue of 168,903 Ramirent shares. Consequently, the share capital of Ramirent will be raised by over €72,000. It is expected that the shares will be listed on the Helsinki Stock Exchange soon.Half of the shares will be locked for 24 months starting from the closing date. These can be sold only after the end of the lock-up period. Ramirent claims to be the leading machinery rental company in the Nordic countries, and in central and eastern Europe. The group has headquarters in Helsinki, and… Continue reading