Archive for July 3rd, 2010

Grove reaches milestone (2006-4-3)

Manitowoc Crane Group (MCG) has produced its 500th Grove GMK5100 (GMK5120B in the US) all-terrain mobile crane. Dawes Rigging and Crane Rental, part of All Erection and Crane Rental Corp, based in Cleveland, Ohio, US, purchased the crane. It was delivered at the end of 2005.Jack Swan, vice president of operations for All Erection, explained why the GMK5100 fits exactly with his company\'s needs."The GMK5100 has one of the best lifting charts in its class," he said. "It is," he added, "reliable, hard-working machine used for a variety of jobs. We have a number of these machines at depots across the country and they are consistently popular with our customers. I\'m sure we\'ll add even more of these cranes to our fleet in the future."Philippe Cohet, executive vice-president for MCG in the Europe, Middle East and Africa (EMEA) region, said,"The GMK5100 is an extremely popular model, in both the new and… Continue reading

Thomas Equipment Wins Strategic Distribution Agreement With Russia Life Peat Moss Company (2006-4-4)

Thomas Equipment Inc. ("Thomas"), a designer and global manufacturer of skid steer loaders, mobile screening plants, mini excavators and specialty industrial and construction equipment, today announced that it has entered into an exclusive distribution agreement with Russia Life Peat Moss Company ("Russia Life"), a strategic supplier of construction and industrial equipment, to sell and service Thomas equipment and parts to a territory that encompasses five major industrial and military centers in Russia. Under the terms of the agreement, Russia Life must purchase a minimum of 1,550 units (average purchase price of approximately $18,000 per unit) from Thomas over a five-year period, to maintain its exclusive distribution rights status. Thomas estimates the minimum revenue value of the agreement to between $23,000,000 and $34,000,000 dependent upon the mix of product ordered.Thomas\' strategic distribution agreement with Russia Life is its latest achievement under its "Thomas2" Initiative which was unveiled on January 5, 2005. Thomas2… Continue reading

Terex Raises First-Quarter Outlook (2006-4-4)

Terex Corp., which makes construction and other equipment, said Monday earnings in the first quarter will be better than expected, thanks to strong results at its aerial work platforms and materials processing units.The company now expects earnings of more than $1.20 per share for the first quarter, excluding special items, boosting full-year earnings per share to a range of $5.85 to $6.35. Last month, Terex forecast 2006 adjusted earnings of between $5.50 and $6 per share.Analysts surveyed by Thomson Financial forecast, on average, earnings per share of 96 cents in the first quarter and $5.80 for the year."We continue to see strong performance in our Terex Aerial Work Platforms and Materials Processing & Mining segments, and we are encouraged by the strength of the performance so far this year of our Terex Cranes businesses," said Ronald M. DeFeo, Terex chairman and chief executive."Our Terex Construction segment, now organized to include only… Continue reading

CNH Announces Full Support of B5 and Backs B20 (2006-4-4)

CNH Global N.V. said its industry-leading Case IH and New Holland agricultural equipment and Case and New Holland construction equipment brands fully support use of B5 blends (5% biodiesel and 95% petroleum-based diesel) on all engines they manufacture. In addition, use of 20% blends is possible on all engines other than common rail.B5 blends must meet the requirements of U.S. standard ASTM6751 on the base biodiesel stock or European standard EN14214. When using higher 20% blends certain handling and maintenance requirements come into play, and customers are advised to speak with their dealers on specific issues.CNH is committed to working with its partners to push toward higher-level biodiesel that will be a compatible fuel source in future low-emissions compliant engines and has initiated aggressive field tests to evaluate the performance with 100% biodiesel. CNH will take advantage of the Fiat Group\'s technological know-how.Among our customers there is a growing demand for… Continue reading

Construction Equipment Shares Rise (2006-4-4)

Shares of construction equipment companies rose Monday on government reports of record construction spending in February.Overall construction spending rose to a seasonally adjusted annual rate of $1.185 trillion in February, a gain of 0.8 percent from the January level, the Commerce Department said.The increase beat analysts\' estimate of 0.5 percent growth and indicated that construction should remain a strong part of the economy in 2006 as the building of offices and factories offsets a slowdown in the housing market.The sector rally was led by Terex Corp., which rose to a new 52-week high after announcing earlier in the day that it was increasing its first-quarter and full-year earnings outlook based on strong results at its aerial work platforms and materials processing units.In afternoon trading, Terex shares were up $7.00, or 8.8 percent, to $86.24 on the New York Stock Exchange, after reaching as high as $87.23 earlier in the day. Over… Continue reading

Manitowoc Crane Group Announces Personnel Changes (2006-4-4)

The Manitowoc Crane Group recently filled two management slots within the company. Ted Bratthauar will assume the position of vice president purchasing for Manitowoc Crane Group (MCG) in the Americas. David Hardin has joined Manitowoc Crane CARE\'s Americas management team as general manager of Manitowoc Remanufacturing Operations.In his new position, Bratthauar will report to John Wheeler, executive vice president for the Americas, and will take charge of all strategic and tactical procurement for the company\'s manufacturing plants in the region. Bratthauar has nearly 25 years experience at Manitowoc Crane Group. He has served in a number of key senior management positions, making significant contributions in a variety of roles in customer support, global procurement, manufacturing, materials, and sales and marketing. Most recently he served as general manager of National Crane where he managed the integration of the product line at the MCG facility in Shady Grove, Pa., while simultaneously directing sales… Continue reading