PPI, other cost measures show little change; housing starts tumble but permits soar
The producer price index (PPI) for finished goods dropped 0.3%, not seasonally adjusted (-0.7%, seasonally adjusted), in April and 0.6% over 12 months. Construction costs (materials, labor and equipment rental) increased 0.5% from January 1 to April 1 and 2.0% over the past 12 months. Seasonally adjusted housing starts tumbled 16% in April but were still 13% higher than a year earlier, the Census Bureau reported on Thursday.
June 17, 2013 – AEM
Talks to develop US$3.03bn Sydney F3-M2 road link
In Australia, New South Wales Roads Minister Duncan Gay said talks are continuing between federal and state governments to develop a US$3.03 billion (AUD 3bn) F3-M2 road link in north-west Sydney.
May 20, 2013 – World Highways
Look outside Europe for growth says Déprez
European rental companies should consider moving into fast growth rental markets in other parts of the world in response to economic stagnation in Europe, said Gérard Déprez in his final speech as president of the European Rental Association (ERA).
May 20, 2013 – Access International
Kobelco Ramps Up Parts Inventory at Distribution Center
Kobelco employees work stocking shelves at the company's parts distribution facility in Houston.
Kobelco Construction Machinery USA has made a significant amount of progress in the relaunch of its brand across North America since announcing the company would end its joint venture agreement with CNH at the end of 2012
May 20, 2013 – Construction Equipment Guide
AEM CE Stock Index Down 1.8 Percent For Week Closing May 17
Stock prices for three large companies in the AEM Construction Equipment Index fell last week – offsetting the rise in stock prices by seven of the ten Index companies on May 17 compared to closing prices on May 10. The AEM Construction Equipment Stock Index fell 1.8 percent for the week ending May 17. The S&P 500 Average Index rose 1.0 percent.
May 17, 2013 – AEM
Maryland announces 10 projects covered by gas-tax increase
The gas-tax increase in Maryland will be gradual, starting in July and ending three years later, but is expected to generate $1.2 billion in transportation improvements over the next six years.
May 17, 2013 – Roads & Bridges
Rental Industry Veteran Paul Powers Jr. Dies
Rental industry veteran Paul Powers Jr. died this week, just a few days short of his 84th birthday. Powers, a former president, director and chairman of the California Rental Association, and director of the American Rental Association, founded Powers Rentals in Salinas, Calif., in 1966, and sold the company to United Rentals in 1998.
May 17, 2013 – RER
Terex Repays $220 Million of Senior Term Bank Debt
Terex Corp. last week announced that it has repaid $220 million of the company's senior term bank debt due 2017, effective immediately.
May 17, 2013 – RER
John Deere downgrades 2013 forecast
John Deere has revised its full-year forecast for construction and forestry equipment sales downwards after its weak start to 2013 continued, impacted by lower sales and higher production costs.
May 17, 2013 – International Construction
25,000th Large Square Baler is Built in Hesston, Kansas
In 1978, Hesston Corporation introduced the Model 4800, the industry's first large square baler, revolutionizing hay production and feeding practices at a time when labor availability and fuel prices were driving a need for innovations on the farm. Big square balers have come a long way since then, and on May 16, 2013, a large crowd gathered at AGCO's Hesston Operations to celebrate the 25,000th large square baler built in Hesston, Kan.
May 17, 2013 – Farm Equipment
Cat Settles Chinese Mining Deal
Caterpillar and ERA Mining Machinery Ltd. (MML) have resolved all outstanding issues following Caterpillar's acquisition of the company. The acquisition included ERA's wholly-owned subsidiary Zhengzhou Siwei Mechanical & Electrical Manufacturing Co. Ltd.
May 17, 2013 – Construction Equipment
Metro Manila's infrastructure projects worth more than US$240mn
Infrastructure projects valued at US$244.23 million (PHP 10bn) have been introduced by the Department of Public Works and Highways (DPWH) in the Metro Manila region of the Philippines.
May 17, 2013 – World Highways
Study: Ag Contributes $37.9 Billion to Indiana Economy
Agricultural industries contributed $37.9 billion to Indiana's economy in 2011, according to a new report from Indiana University's Kelley School of Business.
May 17, 2013 – US Ag Net
Donaldson Announces Third Quarter 2013 Financial Results
Donaldson Company's 2013 third quarter financial results show a decline in sales, but a record operating margin of 15.9%.
May 17, 2013 – OEM Off-Highway
ERA uprates UK rental growth while Eurozone slows
The European Rental Association has made some small revisions to its European rental growth estimates for 2013 and 2014, slightly increasing the current year estimate from 0.8% to 1.0% and moderating growth next year to 2.2% from the previously forecast 2.5%.
May 17, 2013 – Access International
Europe's construction output sinks again
Construction output across all European member states (EU27) dropped 7.2% year-on-year in March and 7.9% within the Eurozone, according to the latest data from Eurostat.
May 17, 2013 – Construction Europe
Texas Increases Safety Focus - Results in Fatality Rate Drop
The construction fatality rate is declining faster in Texas than most other states according to a new analysis of federal safety data conducted by the Associated General Contractors of America. Association officials noted that the state's construction fatality and injury rates have declined as many contractors have spent much of the past decade focusing on improving workplace safety.
May 17, 2013 – forconstructionpros.com
Volvo opens Russian factory
Volvo Construction Equipment (Volvo CE) has inaugurated a news 20,660 m2 excavator factory in Kaluga, Russia. The SEK 350 million (US$ 52 million) facility is Volvo CE's first factory in Russia, its seventh to produce excavators and is one of 16 production plants worldwide.
May 17, 2013 – International Construction
Volvo Rents Expands Texas Footprint with New Store in Selma
Volvo Rents, a worldwide provider of small-to-medium sized construction equipment, has opened a new rental center in Selma, Texas. This is the latest move in the company's continued expansion of its Texas rental business portfolio, increasing its statewide total to 12 rental centers. It also comes on the heels of a recent report by the Associated General Contractors of America that says Texas leads the nation in the increase of construction jobs.
May 17, 2013 – Compact Equipment Online
Consumer Sentiment Index in U.S. Rose to 83.7 in May
Consumer confidence rose in May to the highest level in almost six years as an advancing stock market and cheaper gas prices helped lift Americans' outlook on the economy.
May 17, 2013 – Bloomberg