Equipment World Digital Magazine
Issue link: http://read.dmtmag.com/i/231795
reporter | continued Terex sells truck business to Volvo Construction Equipment T erex says it will sell its truck business – which includes off-highway articulated and rigid-frame trucks – to Volvo Construction Equipment in a $160 million cash deal. The deal, slated to be finalized in the first half of next year, immediately gives Volvo a rigid-haul product for the heavy earthmoving and light mining segment, targeting the booming oil and gas segment along with aggregates production and road building. "Trucks no longer fit within our changing portfolio of lifting and material handling businesses," says Ron DeFeo, Terex chairman and CEO. Olney, Volvo CE's president at the time of the transaction, says the company has plans for both Terex products. "The addition of a range of rigid haulers extends the earthmoving options for customers involved in light mining applications," he says. The Terex brand will be retained during a transitional period. (Martin Weissburg has been named Volvo CE president, effective Jan. 1.) According to Volvo, Terex's truck business had net sales of $370 million in 2012, and an operating income of about $33 million. In the first three quarters of this year, truck sales totaled around $172 million. The deal is expected to add 500 employees to Volvo CE's workforce. – Marcia Gruver Doyle Volvo sells Volvo Rents to Platinum Equity T he Volvo Group has agreed to sell its Volvo Rents construction equipment rental business to Platinum Equity, a Californiabased private equity firm that invests in companies in the construction, commercial and industrial equipment rental markets, for $1.1 billion. The sale should be completed during the first quarter of 2014. Volvo Rents operates 130 stores in North America and employs about 2,100 people. Volvo says those employees will not be affected by the sale. The rental business was formed in 2001 and offers a wide range of heavy equipment and Volvo Construction Equipment will continue to sell products to Volvo Rents under the new ownership. – Wayne Grayson 12 November 2013 | EquipmentWorld.com 10 tips for improving your pickup's fuel economy T hanks to high prices at the pump, better gas mileage has become a top priority for all pickup truck owners, especially fleet owners who want to reduce their annual operating costs. Here are 10 tips that guarantee pickup fuel economy will be maintained or improved: 1. Don't add weight. If saving fuel is a top priority, go light. 2. Keep tire pressures at the recommended psi. For every 1 psi all four tires are underinflated, there's a .4 percent drop in fuel economy. You can find your truck's recommended psi on the door placard. 3. Don't add a lift kit. The taller, heavier tires will affect mileage, and the higher body creates more wind resistance. 4. Add a tonneau cover. Covering the bed 5. 6. 7. 8. and improving aerodynamics – and a hard cover performs better than a soft – is your best bet in improving fuel economy. Don't add taller or wider tires. Bigger tires add weight and increase aero drag. Drive with a light foot. Hard acceleration kills fuel economy. Don't add a winch or heavy duty bumper. Both will add weight and increase drag. Add a cold-air intake and a cat- or turbo-back exhaust. An engine that breathes better is more efficient. 9. Don't drive over 65 mph. As vehicle speed increases over 65 mph, mpg falls exponentially. 10. Run synthetic lubricants in engines and differentials. Synthetics reduce drag of moving parts. – Bruce W. Smith EW