Perkins Engines plans for 2011 emissions regulations
Perkins Engines used ConExpo 2008 to outline the challenges and implications of the forthcoming U.S. EPA Tier 4 Interim, European Stage IIIB and MLIT Step 4 mobile emissions regulations that take effect in 2011 and their potential impact on machine OEMs.
The next tranche of emission standards will require emissions reductions of particulate matter (PM) by 90 percent and oxides of nitrogen (NOx) up to 50 percent beyond current EPA Tier 3/EU Stage IIIA standards.
Perkins is looking to provide tailored emissions solutions to OEMs through a combination of technologies including next generation turbo charging, advanced electronics, advanced fuel systems and particulate after-treatment systems.
According to Tim Cresswell, product marketing manager, the ramifications of these forthcoming levels of emissions legislation are significant.
“We will certainly see introduction of enhanced technologies, both internal and external to the engine, to reduce NOx formation and PM,” Cresswell said. “Initially, we expect to see the introduction of systems such as Diesel Oxidation Catalysts (DOC) depending on horsepower band.”
Perkins believes that customers can expect Tier 4/Stage IIIB engines to continue to provide the superior power, response and durability that current Tier 3/Stage IIIA engines provide, with even better fuel efficiency.
Turner awarded contracts in higher education market
Turner Construction Company was awarded contracts this May totaling in excess of $100 million to manage construction on projects at the University of Illinois at Urbana-Champaign, the University of Buffalo and the University of California at San Diego. These projects add to Turner’s portfolio of high education work across the country, which totaled $1.3 billion of construction activity during 2007.
Turner’s Chicago office was selected to provide construction management services for the University of Illinois at Urbana-Champaign. The scope of work includes a residence hall, which will be a 58,000-square-foot building with beds to accommodate 150 students and a 140,000 square foot student dining and residential programs building for 1,700 students. Both projects are being constructed to achieve a LEED Silver NC Certification by the USGBC. Completion is scheduled for May 2010.
Turner’s Buffalo office is providing construction management services for the 130,000 square foot school of engineering for the University of Buffalo. The scope of work includes laboratory, office and classroom space. Completion is scheduled for 2011.
Turner’s San Diego office is serving as the design/build contractor for University of California San Diego’s north campus housing project, which is scheduled for completion by September 2009. The scope of work includes 322,000 square feet of dormitory space, community rooms, a dining room, meeting rooms and retail space.
Cummins sales and earnings surge on strong global demand across all business segments
Cummins Inc. recently reported significantly higher revenues, net income and Earnings Before Interest and Taxes (EBIT) for the first quarter of 2008. All four business segments reported double-digit percentage sales increases during the quarter, with earnings growing at an even faster pace than sales.
Sales of $3.47 billion were 23 percent higher than $2.82 billion in the first quarter 2007, due to a 25 percent increase in both the engine and components segments, a 44 percent increase in the distribution business and a 17 percent rise in power generation sales.
Net income rose 33 percent to $190 million, or 97 cents per share, compared to $143 million, or 71 cents per share, during the same period in 2007. EBIT of $315 million, or 9.1 percent of sales, was 30 percent higher than $243 million (8.6 percent of sales) a year ago.
Hertz acquires All Reach
Hertz Global Holdings, Inc. announced that Hertz Equipment Rental Corp. (HERC) acquired All Reach, LLC. Headquartered in Connecticut, the company serves clients throughout Connecticut; Westchester County, NY; Rhode Island and western Massachusetts.
“Hertz has been actively seeking new growth opportunities for its equipment rental business,” said Mark P. Frissora, Hertz chairman and CEO. “With the All Reach Acquisition, we are able to further strengthen HERC's presence in the Northeast while enhancing its product offering to customers throughout the region.”
Since 1999, All Reach has specialized in renting aerial equipment and forklifts to customers on a regional basis and is recognized for providing top customer service in the lift equipment rental market.
The acquired business had revenues of approximately $7 million in the year ended Dec. 31, 2007. The acquisition was made for an undisclosed sum and will be integrated into HERC's operations.
“Expanding HERC's aerial business is in line with our overall strategy to continue growth and diversification of our business,” said Gerry Plescia, president of Hertz Equipment Rental Corp. “The All Reach acquisition will reinforce HERC's position in the aerial equipment rental business and will help the company service customers throughout the Northeast corridor.”
Hyde Park Acquisition Corp. acquires Essex Crane Rental
Hyde Park Acquisition Corp. recently announced that it has entered into a definitive agreement to acquire privately held Essex Crane Rental Corp., which owns the largest specialized fleet of lattice-boom crawler cranes and attachments in North America.
The Buffalo Grove, Ill.-based Essex has a fleet of about 400 high-lift capacity crawler cranes. The company’s primary markets include bridge and road construction, power, water treatment, refineries, alternative energy and other infrastructure-related projects. With strong growth trends in these areas, Essex is benefiting from a favorable utilization and rental rate environment, said officials of the private equity group.
Also, for the fiscal year ended Dec. 31, 2007, Essex generated revenues of $64.2 million and total EBITDA of $37.2 million, including rental EBITDA of $32.5 million, providing a 51 percent margin and invested maintenance capital expenditure of about $2.1 million.
Under the terms of the transaction, Hyde Park will acquire Essex from private equity firm Kirtland Capital Partners for $210 million, plus transaction expenses and an adjustment for crane purchases and sales prior to closing. The deal will be financed through a combination of $100 million in proceeds from Hyde Park; a $5 million equity investment by the Essex management team; a $5 million investment by Kirtland Capital Partners, the current owners; and a $117 million drawdown of a fully committed asset-backed credit facility through a consortium of institutional lending sources.
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New IPAF president takes charge
John Ball, group managing director of Height for Hire, Ireland, was elected president of the International Powered Access Federation (IPAF) at its Annual General Meeting in April.
John Ball succeeds Andrew Reid of SGB Mastclimbers. He will serve a two-year term and advance the objectives of the federation to promote the safe and effective use of powered access around the world.
Addressing members at the IPAF Summit, Ball commended his two immediate predecessors, Andrew Reid and Pierre Saubot of the Haulotte Group for the significant growth in membership and training in the past five years. He thanked Andrew Reid for the strategic decisions made during his term and for handing over the federation in a strong and healthy position.
Haulotte Group integrates environmental approach into engines
Under tightening legislation, Haulotte Group is taking steps to control and reduce its environmental impact and is integrating its environmental approach into its global management system.
Launched in 1999, the emissions regulation plan applying to both on and off-road vehicles marked a critical new phase on Jan. 1, 2008. Since that date, new engines manufactured in Europe must comply with the Tier 3 / Stage III—by 2011, emissions will have to be reduced by 90 percent.
For motor vehicle manufacturers and Haulotte Group, this legislation constitutes an opportunity to improve the performance and reliability of engines.
The engineering and prototypes departments are also very active in the improvement process. The stricter the standards become, the more significant the changes to machines, especially those equipped with engines above 37 kW. By 2014, the Tier 4 / Stage IV will affect on and off-road vehicles with a reduction of 95 percent of exhaust emissions, bringing that ratio down almost to zero.
In order to prepare for this next stage, the Haulotte teams and their partners are already working on the development of devices and processes adapted to more environmentally-friendly machines: particle filters, advanced cooling systems, electronic fuel injection, better quality and ultra-low sulphured fuel.
JLG promotes Alton to vice president and general manager for Caterpillar Alliance
Group JLG Industries, Inc., an Oshkosh Corp. company, announced the promotion of Rick Alton to the position of vice president and general manager for JLG’s Caterpillar Alliance Group (CAG).
“During his tenure with JLG, Rick has consistently demonstrated strong business acumen and strategic thinking,” said Craig Paylor, president of JLG. “Rick has worked with our partners at Caterpillar since the inception of our alliance to build CAT-branded telehandlers in 2006. He has an exceptional commitment to quality and understands the importance of continuing to support Caterpillar and its dealers worldwide.”
Alton will be responsible for the continued growth and expansion of CAG and will continue to build on the successful global alliance with Caterpillar. He will also be asked to continue to develop the global high performance team and implement the business strategies related to the CAG.
Alton began his career with JLG in 1996 as a product specialist. Since then, he has held a variety of positions including account manager, regional sales manager and global sales and product support vice president for CAG.
Crane Rental buys new Manitowoc Model 31000
Crane Rental Corp. of Orlando will buy the second 2,535-ton capacity Manitowoc Model 31000. Manitowoc unveiled the new heavy lift crawler crane at ConExpo 2008.
The 31000 is the largest-capacity crawler crane Manitowoc has ever designed or built. It employs an innovative lift-enhancing mechanism, which eliminates the need for a counterweight wagon. This feature, called the VPC (the Variable Position Counterweight) never touches the ground and extends or retracts as needed by the crane’s lift. Manitowoc announced the sale of the first 31000 later at the ConExpo.
“The 31000 is a logical choice for the company,” said Alan Ashlock, president of Crane Rental Corporation.
Ashlock added the 31000 was a natural larger capacity progression from the two Manitowoc 18000’s Crane Rental already owns.
The 31000 will become the company’s flagship crane.
Sky-Trax announces partnership with GENCO
Sky-Trax Inc. announced its partnership with GENCO Supply Chain Solutions. Sky-Trax, a technology company, and GENCO Supply Chain Solutions, North America’s second largest and “Global Top 50” third-party logistics provider and recognized leader in reverse logistics, combined to form a strategic partnership that brings cutting edge technology and logistics together. As new strategic partners, Sky-Trax and GENCO Supply Chain Solutions are looking forward to bringing new and exciting technologies to the materials handling industry.
“This is a perfect match on many levels,” said Mitch Silver, CEO of Sky-Trax. “Sky-Trax optical technologies deliver revolutionary accuracy in tracking vehicles and inventory. GENCO Supply Chain Solutions has been long regarded as a leading force in bringing technological advancements into warehouse operations. Their experience and resources are the ideal compliment to our innovation and entrepreneurial spirit. Together, we expect to change the way companies look at warehouse operations.”
“GENCO continually looks for technologies that help our customers improve their competitive edge,” said Pete Rector, executive vice president of GENCO Supply Chain Solutions. “Sky-Trax has demonstrated in rigorous testing that it provides significant productivity advances. We believe it has the capacity to further develop into even more robust uses in supply chain efficiency.”
Venturo announces opening of their factory installation center
Venturo Truck Cranes announced the opening of an installation center in Cincinnati, OH. The installation center was created specifically to build the all new WorkForce50, 40 and 25 series of mechanic’s service trucks. Built on the proven Ford F series Super Duty chassis, WorkForce service trucks offer packages ranging in size from 50,000 feet per pounds to 25,000 feet per pounds. Venturo WorkForce service trucks offer technically innovative features like a 25-foot all-hydraulic hex boom, fully proportional radio remote controls, 100 percent continuous duty Ingersoll Rand hydraulic air compressors and integrated hydraulic outrigger systems.
At the installation center, equipment will be installed, tested and fine-tuned by factory technicians. This means trucks will be built according to exacting factory specifications. After the installation, factory personnel will be available to train users on proper operating and maintenance procedures, ensuring a long and healthy service truck life.
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