Archive for July 29th, 2010

MSHA Issues Final Diesel Particulate Rule (2006-5-23)

The U.S. Mine Safety and Health Administration (MSHA) has issued its final rule for miners exposed to diesel particulate matter (DPM) from diesel exhaust in underground metal and nonmetal mines.MSHA said the final rule phases in the DPM final limit of 160 micrograms of total carbon per cubic meter of air over a 2-year period, based on technological feasibility information in the record. On May 20, the first phase of the final limit of 308 micrograms of elemental carbon will become effective. On Jan. 20, 2007, the DPM limit will be reduced to 350 micrograms of total carbon per cubic meter of air. The final limit of 160 micrograms of total carbon per cubic meter of air will become effective on May 20, 2008. The ruling says the mine operators must continue to use engineering and administrative controls, supplemented by respiratory protection when needed, to reduce miners\' exposures… Continue reading

ASV Sets $10 Million Stock Buyback (2006-5-24)

ASV, Inc. announced today that its Board of Directors has approved the implementation of a share repurchase plan. Under this plan, ASV may repurchase up to $10 million of its common stock.The Company anticipates share purchases will be made from time to time, depending on market conditions. Shares may be purchased in the open market, including block purchases, or through privately negotiated transactions. The Company does not intend to repurchase any shares from directors, officers or other affiliates of the Company. The repurchase program does not obligate ASV to acquire any specific number of shares and may be discontinued at any time.Commenting on the repurchase program, ASV Chairman and CEO Gary Lemke stated, "Given the strong financial and cash position of the Company and the long term growth potential of the rubber track loader market, we believe our shares are undervalued in the marketplace. Because of this, we believe it is… Continue reading

America\’s transportation infrastructure needs fixing (2006-5-24)

"America\'s aging transportation infrastructure can\'t keep up with the pace of global commerce," says John Bowe, president of the Americas for global transportation provider APL and its sister company APL Logistics. "If it isn\'t overhauled, consumers and the U.S. economy will pay a steep price," he warns. Bowe recently spoke at a transportation symposium organized by the MIT Center for Transportation and Logistics."The U.S. economy has been transformed by unprecedented growth in containerized imports," Bowe continues. "Growth in the transportation infrastructure hasn\'t kept pace. If we don\'t fix this, supply chains will bog down, consumer prices will go up and the economy will suffer."To address the problem, Bowe is calling for public-private collaboration leading to: a national freight policy; significant new investment in the U.S. rail network; and increased productivity at U.S. ports. He cautions, however, that government can\'t be counted on to pick up the massive cost of infrastructure improvement… Continue reading

Tata To Triple CV Capacity (2006-5-25)

India\'s Tata Motors Ltd. Said it plans to invest $76 million to more than triple capacity at its commercial vehicle plant in northern India. The plant at Lucknow, in Uttar Pradesh state, has a capacity to make 30,000 medium and heavy trucks a year, which will be raised to about 100,000 units by March 2008. (Source: Diesel Progress) … Continue reading

JLG To Start Telehandler Shipments To Cat (2006-5-25)

JLG Industries Inc. said it will begin shipments of Caterpillar-branded telehandlers to Cat\'s European dealers in August and to North American dealers in November. Last October, JLG and Cat announced a the 20-year strategic alliance agreement, in which JLG will provide exclusively to Caterpillar dealers a full line up of Cat branded telehandler products. "In addition to supporting the alliance agreement, the manufacturing realignment and capacity expansion also provides the additional capacity and flexibility required to better satisfy overall demand for JLG access equipment, as well as ongoing productivity improvement," JLG said.JLG had previously stated that it would support the North American and Latin American markets from its McConnellsburg, Pa. facility, and the markets in Europe and the rest of the world from its Maasmechelen, Belgium facility.(Source: Diesel Progress) … Continue reading

NES Rentals Sold (2006-5-25)

Diamond Castle Holdings, a private equity firm, has acquired the assets of NES Rentals Holdings for $850 million including the assumption of certain liabilities. Under the terms of the agreement, Diamond Castle will acquire all of NES Rentals\' oustanding common stock for $18.75 per share in cash. The purchase price per share represents a 42-percent premium to the Company\'s closing price per share of $13.25 on January 12, 2006, the day on which the Company announced it would explore strategic alternatives. "After undergoing significant change in recent years, NES Rentals has emerged as a well-positioned and profitable business," says Andrew Studdert, NES chairman and CEO. "The progress we have made allowed us to be in a position to consider options to unlock the value of our Company." In December 2005, NES Rentals began reviewing strategic alternatives which included the option of selling the company. "When completed, this deal… Continue reading