News in the Construction Equipment Industry
Need a quick update on what happened last week in the construction industry? Every Monday we will provide a brief overview of some of the top stories for your consumption.
According to an analysis of federal data from the Associated General Contractors of America (AGC), the price of construction materials has been climbing since January due to jumps in items used in new housing and nonresidential renovations. The producer price index for all construction inputs rose 0.7 percent between December and January and is up 1.3 percent from last year. AGC expects costs to rise significantly higher in February. To read more on the climbing prices of construction materials, click on the link below.
Terex reported growth in 2012, despite end-of-year challenges. In its fourth-quarter and year-end report, Terex Corporation announced income from continuing operations of $103.6 million on net sales of $7,348.4 million for the full year 2012. Ron DeFeo Terex Chairman and CEO stated, “We [Terex] were impacted in the second half of the year by challenging end markets in Europe and Asia but we still meaningfully improved our profitability, generated approximately $554 million of free cash flow, restructured and reduced our debt, and began to realize integration savings as planned.”
CAT Auction Services (CAS) has announced an upcoming live auction at Foley Equipment in Kansas City, MO. The auction will take place on March 27, 2013 and feature 82 lots. Consign your surplus equipment and see it sell to the highest bidder, or come check out quality used iron and upgrade your fleet! Bids can be placed on-site or online with CAS. Click here to register, or follow the link below for more details.