Finance & Funding

Ritchie Bros sold around US$3.9 billion of equipment at 328 unreserved equipment auctions around the world in 2012. This represents a 5% increase in gross auction proceeds over 2011 and the highest gross auction proceeds in the company’s history. The firm achieved gross auction proceeds of $1 billion in the fourth quarter of 2012 alone, highlighting the strong industry demand for used machines. Ritchie Bros says that it also attracted record online bidder registrations and sold approximately $1.3 billion of

Caterpillar has revealed details of its “significant” investment in new and upgraded parts distribution centres in Africa and the Middle East (AME). The investment, highlighted during Cat’s recent Construction Days event in Antalya, Turkey, is in addition to the US$460 million invested by the company’s AME dealers in 2011 to improve local operations, reports Guy Woodford. “We are going to open in March [2013] a complete new parts distribution centre in Dubai, which is significant,” said Christian Dillier, A

International Equipment Solutions (IES) has acquired Siac do Brasil from SIAC and its affiliates. IES and SIAC have agreed to cooperate in the future. IES was formed in September 2011 as a platform for investments serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining, and energy industries.

Astec Industries has unveiled “optimistic plans” for India where the government plans to spend US$600 billion on infrastructure in the coming years. Recently, four US-based companies of Astec Industries hosted two senior executives of Tractors India Limited (TIL) to further cooperation initiatives and strengthen Astec’s market position in India. Utilising its newly-opened state-of-the-art 20,000m² production facility in Kharagpur, West Bengal, TIL will manufacture a range of Astec Aggregate and Mining crush

US$32.45 billion of infrastructure improvements are scheduled in Brazil and companies are looking to capitalise on this JCB’s new US$100 million factory in Brazil has been officially opened as the company strengthens its position in rapidly-expanding Latin American markets. At full capacity, the new plant will have the capability to produce 10,000 machines a year, and it replaces two smaller plants in Sorocaba, São Paulo State, the first of which JCB opened in 2001 to produce backhoe loaders, and the second

Construction machines from Shantui are now being supplied to the United Nations (UN), for use in Africa. The machines are being used by UN peace-keeping forces in Africa, having passed the stringent testing and performance requirements of the UN for harsh road condition use and special applications. The deal came following the necessary procurement certification from the UN. Shantui’s supply deal is for machines including military-level bulldozers, wheeled loaders and road machinery.

The UK-based site is one of the major production facilities for construction and mining equipment in the Komatsu group. For the celebrations, Peter Howe, KUK managing director and chairman of Komatsu Europe International, welcomed Tetsuji Ohashi and a delegation of other senior executives from Komatsu Ltd, the company’s global HQ in Tokyo, Japan. Established in 1985 in Gateshead, near Newcastle, North East England, KUK was officially opened by His Royal Highness the Prince of Wales in 1987. Over the last qu

Hitachi Construction Machinery (Europe) NV (HCME) has appointed Repa SIA as its new dealer for customers in Latvia. Repa, who replace Laadur OU, was established in 1991 as a dealer for used construction equipment. The head office is located in Riga and includes a 280m² office and 600m² workshops. The company employs seven sales personnel, ten technicians and six administrative staff. A subsidiary of the MONO Group, one of the largest enterprises in Latvia, and owner of companies specialising in highway engi