Heavy Equipment Soars as the Economy Falters
The heavy equipment industry, worth approximately $200 billion annually, is expected to exceed $230 billion by 2025 and is poised for explosive growth.
Industry Updates
Georgia Equipment Rental Operators Get Additional Tax Relief
On May 2, 2022, Georgia Gov. Brian Kemp signed into law House Bill 1103, an amendment to an existing heavy-duty equipment motor vehicle code that defines weight limitations of equipment eligible for property tax relief. Previously, equipment weighing 5,000 lbs. or more was eligible for
Hitachi Showcases Excavators
Hitachi Construction Machinery Americas (HCMA), Newnan, Ga., a subsidiary of Hitachi Construction Machinery (HCM), Tokyo, introduced three new excavators during a press event Thursday, May 19, at the Callaway Resort & Gardens in Pine Mountain, Ga.
RentalMax Acquires A to Z RentAll, Expands to Wisconsin
RentalMax, Carol Stream, Ill., has acquired A to Z RentAll and Sales, Madison, Wis. The acquisition was effective on April 29, 2022, and will continue the legacy of high-quality equipment rental established by former owner Kevin Hoffman and his family, the company said.
Bob Krause Named Chief Operating Officer for Sunstate Equipment Co.
A long-time industry veteran, Krause will now lead General Rental and Trench division operations, sales and marketing, and business excellence for the 45-year-old company.
Manitex Acquires Rabern Rentals, Names New CEO
Manitex International, an international provider of cranes and specialized industrial equipment, has completed the acquisition of 70 percent of Rabern Rentals, of Amarillo, Texas, for $25.9 million.
Herc Holdings reports company record-setting rental revenue
Herc Holdings, Bonita Springs, Fla., today reported earning $567.3 million in total revenue during the 2022 first quarter, up 25 percent compared to $453.8 million in the 2021 first quarter.
Contractors Squeezed: Construction Costs Spike 39% Since Pandemic Began
Construction input prices are up 24.4% from a year ago and 39.1% from February 2020, the month before the pandemic began to affect the economy, while nonresidential construction input prices are up 25% from a year ago and 39.2% from February 2020.
Major Equipment Manufacturers Expanding Territories
Industry Roundup: LiuGong Partners with Love Power Equipment
