July 2016 News

June construction spending declined
Construction spending during June 2016 was estimated at a seasonally adjusted annual rate of $1,133.5 billion, 0.6 percent below the revised May estimate of $1,140.9 billion.

Scholarships for construction-bound students available from HCSS
Submissions are now open for the 2016 Construction Intern Awards. Construction software developer HCSS will be awarding a total of $50,000 in college scholarships to students in construction-related fields. Submissions will be accepted until September 16, 2016. 

Atlas Copco Construction names new president to lead North American growth
Atlas Copco Construction recently appointed Scott Carnell as president of its U.S. division. Carnell replaces Erik Sparby who has accepted the role of general manager, Customer Center CR Greater China.

Richard M. Olson named Toro president
Toro Company (NYSE: TTC) announced July 20 that its board of directors has elected Richard M. Olson to the position of president and chief executive officer, effective November 1, 2016.

Hyundai Adds Service Technician for West Coast Construction Equipment Dealers
Hyundai Construction Equipment Americas recently appointed Brad Marcotte as service technician supporting the company’s authorized dealers throughout California, Oregon, Washington, Idaho, Nevada, Utah and Arizona. He also will assist another regional service technician in supporting dealers in Colorado and New Mexico.

Komatsu moves to acquire U.S. mining equipment manufacturer Joy Global
Komatsu announces that it will acquire Wisconsin-based surface and underground mining equipment manufacturer Joy Global.

The 10 most important issues facing cities, according to their mayors
Fast Company editors examined 100 state of the city mayoral addresses and identified a trend of the cities’ top priorities that could spell opportunities for professional contractors and the rental houses that serve them.
Learn more

Equipment Leasing and Finance Industry Confidence Remains Steady in July
The Equipment Leasing & Finance Foundation (the Foundation) released its July 2016 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) report. Overall, confidence in the equipment finance market is 52.5, remaining steady with the June index of 52.3.

Improve revenue with machine attachments
Investing in attachments and other ancillary components is one of the best ways to expand a piece of equipment's capabilities.

3M Center for Respiratory Protection launched
3M has developed an online resource to help employers protect workers. As new OSHA respiratory protection rules become enforced within the next year, creating and implementing a respiratory protection program can be a complex and challenging task.

Genie offers online service training for aerial work platforms 
To help meet the increasing demand for aerial service technicians in the rental industry, Terex Aerial Work Platforms (AWP) is offering free enrollment to the Genie Tech Pro online service training program.

STAFDA offers EMV credit card seminar
With the switch to “chip" or Europay/Mastercard/Visa (EMV) credit cards and the increase in mobile commerce, the Specialty Tools and Fasteners Distributors Association (STAFDA) will be offering a one-hour online seminar on this technology July 19, 2016.

DeWalt rebrands Powers Fasteners, announces new cast-in-place anchors
DeWalt will begin to transition the Powers brand of mechanical and chemical fastening systems to the DeWalt brand, according to company sources.

The Equipment Leasing & Finance Outlook: Sluggish
The Equipment Leasing & Finance Foundation released its Q3 update to the 2016 Equipment Leasing & Finance U.S. Economic Outlook, which forecasts investment in equipment and software. It predicts investment in the $1 trillion equipment finance industry to grow 0.9% in 2016 but construction machinery investment growth will likely remain sluggish over the next three to six months.

Pro Contractor Rentals magazine appoints new editor
Direct Business Media, a specialty niche media services provider covering the industrial and construction markets, recently appointed Clair Urbain as editor of Pro Contractor Rentals magazine and its associated web site, and e-newsletter, Pro Contractor Rentals Weekly.

Nonresidential Construction Starts Trends
Alex Carrick of Construct Connect shares six telling graphs about the status of non-residential U.S. construction.

PacWest Machinery to build on Portland site
Pacific Northwest dealer for Volvo and other major brands, has acquired land and begun construction of a new facility in Portland, Ore.

Point of Rental makes acquisition
U.S.-based Point of Rental, Inc.announced the acquisition of U.K.-based Syrinx by Higher Concept Software.

Rouse Rental Report Highlights
The May 2016 Rouse Value Index for used equipment prices decreased to 42.7, down 1.2% from April values, according to the Rouse Rental Report's June newsletter.

May construction spending lags behind April
Construction spending during May 2016 was 0.8 percent lower than in April, according to the monthly report from the U.S. Census Bureau.