Issue link: https://read.dmtmag.com/i/255289
Industry Beat 18 | www.cedmag.com | Construction Equipment Distribution | February 2014 Volvo Construction Equipment has agreed to acquire the off-highway hauler business of the Terex Corpo- ration for a purchase consideration of approx. $160 million. The deal, which is subject to regulatory approval, includes the main production facility in Motherwell, Scotland, and two product ranges that offer both rigid and articulated haulers. It also includes the distribution of haulers in the U.S. as well as a 25.2 percent holding in Inner Mongolia North Hauler Joint Stock Co (NHL), which manufactures and sells rigid haulers under the Terex brand in China. Willie Swisher, president and CEO of Noble Iron has stepped down from his role. Nabil Kassam, founder and executive chairman of Noble Iron, will add CEO to his title. Swisher will continue as a director on Noble Iron's board. Mike Rhoda has been named chief executive officer of Sany America Inc. with overall responsibility for manufacturing, sales, marketing and support for all equipment products in the United States, Canada, Mexico and Central America. He holds a master's degree in mechanical engineering from Purdue University. Prior to being named CEO, Rhoda was chief tech- nology officer with Doosan Infracore Construction Equipment. The Board of Directors of Manitou announced that Dominique Bamas, president and CEO, has resigned. Bamas was appointed on an interim basis on March 6, 2013, and is resigning in accordance with the agreements made with the Board in order to permit the appointment of Michel Denis as the new president and CEO. Denis assumed his func- tions on Jan. 13 for a four-year-term expiring at the Share- holders' Meeting for the approval of 2017 financial statements. The Board members unanimously expressed their appreciation to Bamas for having managed this interim period in the Group's best interests. French attachments manufacturer Montabert will extend its brand into North America replacing the Tramac brand name on select products. The rebranded products include hydraulic breakers, plate compactors, drilling attach- ments and pneumatic equipment, all most recently branded "Tramac by Montabert." Montabert expects the brand transi- tion to be complete by March 31, 2014. Tramac by Montabert products will retain their iconic green color, in use since 1964. Terex Aerial Work Platforms' Genie brand recently received a Manufacturing Excellence Award for innovation from the Association of Washington Business (AWB). Genie introduced significantly innovative products including the Genie SX-180 boom, the world's tallest of its kind. It has a platform height of 180 feet and can be driven while fully extended. The stowed length shrinks it down to a mere 47 feet and the retracted width to 98 inches making it transportable without special over- width permits. Fred Ridenour of LiuGong Machinery retired after more than 40 years in the industry. Ridenour joined LiuGong in 2010 as General Manager of Business Operations after serving for three years as a consultant to the firm. Tracey Road Equipment, Inc. now offers the full line of Terex compact construction equipment from their five branch locations in Albany, Bing- hamton, East Syracuse, Rochester and Watertown, N.Y., serving construction professionals in the Capital District, Central and Western New York markets. Cummins Inc. will offer a Sulfur Tolerance Kit, allowing export of used Tier-4 Interim and Tier-4 Final equip- ment into regions where Ultra-Low Sulfur Diesel (ULSD) is not available. The kit allows an engine to be oper- ated on fuels containing far more sulfur than ULSD enabling a second life for the engine outside of North America and Europe. IN THE NEWS Nabil Kassam Mike Rhoda Michel Denis Holt Cat Honored The South Texas Energy and Economic Roundtable recently awarded Holt Cat with the Environmental Stewardship Award. Attending HOLT representatives pictured left to right include: Lee Perkins, Adam Haby, Kathi Harris, Lesley Sereno, Howard Hicks and Rene Rojas. Fred Ridenour