Issue link: https://read.dmtmag.com/i/211845
TRENDS AND TIDBITS continued from page 83 Bauma Africa continued form pg 83 "We forecast that these revenues will double in the next five years," he said. Ethiopia, Mozambique and Nigeria would be key focuses for the company in the future, as well as the Democratic Republic of Congo. And JCB expects the African construction equipment market to grow +50 percent by 2017, according to managing director of sales Ian Sayers. "Demand in Africa has more than doubled since 2005 to 22,000 machines for the 12 months to June this year. JCB is spreading out throughout the continent, not just South Africa. We currently have 24 dealers across Africa and are looking for new opportunities." However, Shantui's Mr Zhaohong said that Africa was a continent of both opportunities and of risks. "Currency volatility is a risk, while transportation and logistics are an issue, and infrastructure issues sometimes cause delays, for instance," he said. ● www.khl.com Tim Frank Resigns as Chairman of Sany America Tim Frank has resigned as chairman and CEO of Sany America Inc., the Georgia-based heavy equipment company he led to record sales growth and the first profit in its seven-year history. The resignation was effective Oct. 11. "Sany has great potential in the North American market," Frank said. "I enjoyed my time getting to know the Sany people and culture. I am proud that together we achieved record sales and profit in the U.S. during my time with the company. However, the time came for me to move on." Frank led Sany America to its first profitable quarter in Q1 of 2013, followed by two more successive profitable quarters. During his tenure, the company transitioned from manufacturing concrete pumps at its Peachtree City, Ga., plant to assembling crawler excavators for the United States, Canada, Mexico and Central America. The Sany America network of dealers grew from just a handful to more than 30 during that time, and 2013 sales are on pace to more than double 2012 results. "My experience is that the Chinese product is well made, reliable and affordable," Frank said. "I continue to encourage people to give it a try. With proper support, it's an excellent value." ● www.aednet.org Robert McIntyre Wegman, Hessler and Vanderburg 6055 Rockside Woods Blvd., Suite 200 Independence, Ohio 44131 Phone 01.216.642.3342 (office) 01.216.403.0516 (Cell) e.mail RWMcintyre@wegmanlaw.com IDA UNIVERSAL November-December 2013 85