HOLT CAT, the Caterpillar equipment and engine dealer for South, Central, North and North East Texas, recently named Corinna Holt Richter as vice president, Machine Division Product Support Sales and Peter John Holt as vice president, Power Systems Division, Commercial Engine Sales.
In her new role, Corinna Holt Richter will lead a planned expansion of the company’s product support sales group to significantly drive sales in the parts and services division for continued market share growth. Richter joined HOLT in 2011 and has spent the last two years as General Parts Manager in the organization’s Machine Division. She earned a Bachelor of more »
Of the approximately 350 metro markets nationwide, 59 returned to or exceeded their last normal levels of economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI), released April 7. This represents a net gain of 11 metros year over year.
The index’s nationwide score ticked up to .88 from a March reading of .87. This means that based on current permit, price and employment data, the nationwide average is running at 88 percent of normal economic and housing activity. Meanwhile, 28 percent of metro areas saw their score rise this month and 83 percent have shown an improvement over the past year.
“I more »
Scores of equipment distributors from across the country stormed Capitol Hill on April 2 and 3 for the AED/NAEDA 2014 Washington Fly-In. The annual meeting, which has become the equipment industry’s premier public policy event, is an important opportunity for members to gather political intelligence, urge congressional action on the association’s legislative priorities, and network with leading industry executives.
AED’s President Brian McGuire kicked off the Fly-In by encouraging attendees to make their engagement on the Hill part of a larger collaborative effort that will continue back home in their districts. Through site visits, educational tours, and local engagement, the relationships started in more »
On April 3, the Senate Finance Committee approved the Expiring Provisions Improvement Reform & Efficiency Act (EXPIRE Act) with strong bipartisan support.
The legislation, known inside the beltway as “tax extenders,” continues dozens of tax provisions that expired at the end of 2013, including important capital investment incentives such as bonus depreciation and increased Sec. 179 expensing levels.
Specifically, the bill includes a two-year extension of 50 percent bonus depreciation for qualified property purchased and placed in service before Jan. 1, 2016. It also makes a conforming change to the percentage of completion rules for certain long term contracts.
Under current law, beginning in more »
CNH Industrial announced a new strategic partnership with Leica Geosystems, a provider of design, measurement and visualization technologies, specializing in machine control solutions for construction equipment.
The CNH Industrial – Leica Geosystems strategic long-term partnership will involve several collaboration areas to continuously drive CNH Industrial’s leadership in the construction business. Under this agreement, Leica Geosystems will initially provide CNH Industrial’s global brands Case and New Holland Construction with machine control solutions for Excavators, Dozers and Graders for both factory fit and aftermarket applications. This will eventually expand to CNH Industrial’s entire construction product line-up. In addition, the engineering departments for both companies more »
IronPlanet announced on April 4, 2014, that it is the apparent high bidder pending final confirmation and award for a contract with the U.S. Defense Logistics Agency (DLA) to manage and sell rolling stock surplus assets of the U.S. Department of Defense (DoD) (Surplus Contract). Bids for the Surplus Contract were based on a percentage of the sales price of the items, which IronPlanet estimates at $50-70 million of rolling stock annually. IronPlanet’s high bid was equal to 75.29 percent revenue share to the DLA. The Surplus Contract has a base term of two years with four one-year renewal options.
“We’re very excited more »
In spite of difficult market conditions, Munich-based light and compact construction equipment manufacturer Wacker Neuson managed to further increase group revenue and profitability in 2013. Having reached its target for 2013, the company now aims to remain on this growth path through 2014.
EUR 1.16 billion in revenue
In keeping with its growth strategy, the group focused on increasing market penetration of light and compact equipment in its core European and U.S. markets, as well as actively developing specific new markets. Group revenue rose 6 percent to EUR 1,159.5 million (2012: EUR 1,091.7 million). These figures were dampened by currency fluctuations. Adjusted to more »
Building on President Obama’s Better Buildings Initiative and the Administration’s broader efforts to double energy productivity by 2030, the Department of Energy recognized Volvo Group North America on April 1, for its leadership in energy efficiency at the New River Valley assembly plant near Roanoke, Va. As a Better Buildings, Better Plants partner, the Volvo Group has already achieved 16 percent savings across its U.S. plants and continues working toward its goal of becoming 25 percent more energy efficient within 10 years.
“Partners in the Better Buildings, Better Plants program, such as Volvo, are committing to real change – breaking through barriers more »
United Rentals, Inc. announced April 1, that it has completed its previously announced acquisition of National Pump for a combined asset purchase price of approximately $780 million.
The purchase price was comprised of approximately $765 million in cash, funded through newly issued unsecured debt, and approximately $15 million in stock. The transaction structure also provides for additional cash consideration based on the achievement of certain financial targets. The stock consideration has been granted as awards to certain new employees in the form of unregistered restricted shares. The total number of unregistered restricted shares of the company’s common stock was 153,619.
The acquisition makes United more »
Atlas Copco was named one of the World’s Most Ethical Companies by the Ethisphere Institute for the second consecutive year. The prestigious ethical ranking, presented at the Global Ethics Summit in New York, recognizes companies that demonstrate leadership in ethics, corporate responsibility, sustainability and governance.
Ethical more »