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|The global economic slowdown has claimed its first manufacturing scalp, with news that China’s Wuxi Hu-Lift Equipment Co Ltd is about to be liquidated. It’s interesting that the first victim is one of the new players from a market known for low prices. There had been fears that the new generation of Chinese forklift makers would take marketshare from the established players and put them under pressure. But now, the better-known brands which have focused on quality, innovation and service will take some comfort in the demise of a low-cost competitor, and many will be encouraged to maintain their pricing structures and their R&D investment as they ride out the economic storm. And speaking of the “R-word”, everyone is now watching London for some signs of hope out of the G20 Summit. At this stage, any glimmer of hope will be well received.|
|Terex-Fantuzzi deal back on track |
Westport, CT, United States
|The on-again, off-again Terex purchase of Italian port equipment businesses Fantuzzi and Noell are on again, with the US corporation announcing that it has agreed on a term sheet to acquire the Fantuzzi Industries and Noell Crane for a net consideration of approximately EUR175 million (USD232 million).|
Term sheets have also been agreed with the existing financial creditors to the Fantuzzi group for long-term financing on favourable terms to provide substantially all of the funds necessary to complete the transaction, according to a statement from Terex. The term sheets are non-binding and it is the intention of the parties to work to enter into agreements and complete the transaction within the next few weeks.
Terex initially announced the acquisition of the Fantuzzi and Noell businesses in August of 2008 for a total consideration of approximately EUR215 million (USD285 million)and subsequently announced in December of 2008 that it was terminating the acquisition “due to the existence of a material adverse change in the Fantuzzi business”. After the termination, Fantuzzi disputed the termination and initiated arbitration proceedings against Terex in Italy (Forkliftaction.com News #389).
However, the parties, together with the lenders to the Fantuzzi and Noell businesses, continued to engage in discussions to resolve the matter.
“Immediately after closing, we will begin to work with Fantuzzi’s team members, suppliers, distributors, customers and other stakeholders to aggressively restructure and position these businesses for the eventual recovery in their markets,” says Rick Nichols, president of Terex Cranes.
Phil Widman, Terex senior vice president and chief financial officer, adds that upon completion of this transaction, “our debt levels will increase modestly due to the financing provided from the existing financial creditors. With the long-term maturities and expected company-wide cash flow generation, we believe liquidity should be sufficient to get us through the economic downturn.”
|Closures and gloomy forecasts|
|Trelleborg Wheel Systems America (TWSA) has announced that its Hartville, Ohio manufacturing facility will close in May and production will be relocated to its Sri Lankan plant. |
The relocation was first announced in 2006 with the tyre production in Hartville then expected to continue to the first quarter of 2009. The Hartville facility, which manufactures tyres for forklifts and other material handling equipment, has about 200 employees, of which 115 are in production. Production in Hartville was progressively transferred to Sri Lanka in 2008.
Maurizio Vischi, Trelleborg’s business area president says the move enables the company to remain competitive and grow. “By doing this, we are creating the conditions for a strong global production structure,” he explains
Ydo Doornbos, TWSA’s managing director adds: “In the last few years, we have grown in terms of our professional employees, our distribution network and our product offering … We are excited about the future of this industry and are encouraged by our superior customer base.”
The cost of closure, production transfer and other investments totaled about SEK130 million (USD19.5 million). Trelleborg has two plants in Sri Lanka – Kelaniya and Biyagama - which employ about 900 people.
TWSA’s corporate headquarters will remain in Hartville.
Meanwhile in the east, growing Chinese forklift manufacturer Hu-Lift has closed its doors, while leading player Toyota Industries Corp (TICO) revises its forecast for the 2009 financial year.
Jiangsu Economic Daily reported that Wuxi Hu-Lift Equipment Co Ltd’s shareholders passed a resolution to dissolve the company and set up a liquidation group on 12 March. Creditors were asked to submit applications to the liquidation group by the last week of April.
A Hu-Lift employee whom Forkliftaction.com News contacted confirmed the company had closed, but declined to comment.
TICO, hit by “deteriorating economic conditions”, announced a resolution of its May 19 board of directors meeting to book JPY38 billion (USD384.7 million) of impairment loss on surplus fixed assets due to a decrease in unit sales.
Revising its forecast for the financial year 2009 (FY2009) consolidated results, TICO predicts a loss of JPY30 billion (USD303.7 million), instead of a previously forecasted net income of JPY10 billion (USD101.2 million) TICO’s net income for financial year 2008 was JPY80.46 billion (USD814.4 million). Net sales for 2008 totaled JPY2,000.5 billion (USD20.25 billion) compared to a forecasted JPY1,580 billion (USD15.99 billion) for 2009.
Annual cash dividends for FY2009 have also been revised and TICO will propose the revision to shareholders after considering the actual financial results and its financing requirements for the year.
|Forklifts put to work in flood setting |
Fargo, ND, United States
|Forklifts and extensive volunteer support are helping combat nearly catastrophic flooding in the Red River Valley.|
Residents, businesses, hospitals, nursing homes and houses of worship in neighbouring towns Fargo, North Dakota and Moorhead, Minnesota have faced an onslaught of danger and, in many cases, mandatory evacuations.
Among others, forklift suppliers Herc-U-Lift Inc, F-M Forklift Sales & Service Inc, Rentall, United Rentals Inc, Forklifts of North Dakota and Tool Crib have sprung into action.
Herc-U-Lift provided equipment and talent.
“We have donated three (Ingersoll-Rand rough terrain) forklifts for sandbagging use, one (Ingersoll-Rand) tractor lift inside the Fargodome (indoor stadium) to move pallets around and two variable reach forklifts to carry sandbags to where people can take them to the walls,” says Don Hamilton, rental manager for Maple Plains, Minnesota-based Herc-U-Lift. In addition, “we have a lot of rental business from the (West Fargo-based) Bobcat companies themselves”.
Herc-U-Lift supplied more than 100 hours of volunteer labour, notes Craig Zimmerman, manager of the firm’s Fargo store. “Two of our mechanics and one of our salesmen operated the equipment.”
Early in the crisis, flood fighting organizers moved the sandbag filling operation inside the Fargodome because of slippery parking lot conditions that posed challenges to volunteers, according to Zimmerman.
Herc-U-Lift distributes equipment for the Genie, Haulotte, JLG, Komatsu, Load Lifter, Mitsubishi, Skyjack, Track Mobile and Tusk brands in five Upper Midwest states.
Fargo-based F-M Forklift Sales & Service has supplied Ingersoll-Rand-brand extend booms and other forklifts and hauled Bobcat-brand equipment to help the flood fighters.
“We have rented to the City of Fargo for its sandbag warehouse and to the Fargodome for the sandbag operation there,” says Dan Trottier, service manager in the Fargo store. “They have built 3.5 million sandbags in the last week. Also, across the river, we had a couple (of forklifts) in Moorhead where they filled maybe 1 million bags.”
F-M is also renting to private contractors and “good customers”, Trottier notes.
Across North Dakota, South Dakota, Nebraska and Montana, F-M Forklift is a full-service Toyota dealer in six locations, a full-service Crown dealer in three locations and an operator of four satellite forklift service sites. Also, F-M Forklift serves portions of Minnesota and Wyoming.
Two Fargo locations of Rentall provided equipment.
A couple of Caterpillar extended reach forklifts are in use as needed, says Rick Schmidt, manager of the Fargo Rentall store on 32nd Street South, and “we are across the street from the (Innovis Health LLC) hospital, and we helped unloading equipment there” using forklift equipment.
The Fargo Rentall store on 25th Street South supplied a Butler forklift to load generators and help with relocation of the sandbags.
Fargo-based Rentall has other sites in Minnesota, Nebraska and North Dakota.
Another provider, United Rentals, has “rented forklifts for lifting sandbags up to the dikes,” reports Jeremy Olson, inside sales representative with the firm’s Fargo branch. As of 31 December, United Rentals had 628 rental locations in the US, Canada and Mexico.
The North Dakota division of Forklifts of Minnesota Inc supplied equipment.
“The City of Fargo is using a Clark forklift, and the Red Cross has one Nissan and two Doosan forklifts and two Clark pallet jacks,” says Cheryl Thompson, dispatcher with the Forklifts of North Dakota division in West Fargo.
From another supplier, Tool Crib, “the city (of Fargo) is using three TCM forklifts for sandbag operations,” says Jim Reichel, rental supervisor in the Fargo branch. Tool Crib is a business of Grand Forks, North Dakota-based Acme Electric Co.
The Red River climbed to a crest of 40.82 feet (12.2 m) early on 28 March and slowly began to recede. A major blizzard, however, arrived on 30 March and, eventually, could push waters over the 43 foot (12.9 m) dyke.
|Balkancar Zarya wins contract|
|Industrial wheel maker Balkancar Zarya says it has signed a long-term supply contract with one of the world’s top five forklift manufacturers. The Bulgarian company will supply complete wheels from its current product range during the three-year term.|
Without naming the forklift manufacturer, Balkancar Zarya says the new customer’s account represents more than 10% of the company’s revenues for the financial year ended December 2008.
“The management of Balkancar Zarya considers this contract as an important one to the company. It is viewed as a vote of confidence in our company, products and ability to deliver in a reliable, flexible and cost-efficient way,” a company statement says.
Balkancar Zarya adds that the contract win renews the company’s belief in its short-term sales strategy of achieving a higher sales volume at the expense of lower profitability.
Balkancar Zarya plans to transition the company from a product to system supplier for original equipment manufacturers (OEM), but it admits that in the medium term, it is better off focusing on supplying products in the current economic climate.
Despite current economic conditions, Balkancar Zarya forecasts BGN11 million (USD7.5 million) in unconsolidated sales for the 2009 financial year, 30% or about BGN4.8 million (USD3.2 million)higher than in 2008. Growth in sales is attributed to higher sales volume as production costs decrease.
“The production prices depend on the steel price. The agreements with the major clients allow production prices to be adjusted in line with steel price fluctuations,” the company says.
Balkancar Zarya expects to save BGN600,000 (USD406,243) this financial year from decreased steel prices. However, unconsolidated operating expenses are expected to grow 16% in 2009 over 2008’s BGN7.7 million (USD5.2 million).
The company predicts a 19% drop in employees’ expenses due to its implementation of lean manufacturing concepts and improved productivity measures.
Balkancar Zarya says the financial crisis hit its sector in the last quarter of 2008 and further intensified in the first quarter of 2009.
“We expect a recovery of the situation and revival to the normal order intake pattern after the second quarter of 2009. The fact that we are working with leading OEMs allows us to make accurate sales plans, leading to better working capital planning.”
Balkancar Zarya adds that its prospects of strengthening its position in the aftermarket, “which is less cyclical than the OEM segment (is) fairly positive”.
“On the macro level, we consider the element of compulsory capital expenditure as contributing to a faster recovery from the crisis. In the short term, a decline in demand for investment goods like industrial vehicles is observed [but] in the medium term, after a period of insufficient investment in industrial vehicles, their efficiency eventually worsens.
“A rubber band effect appears. The more industrial vehicles deteriorate, the more investment is needed in new vehicles,” the company says.
Balkancar Zarya has a joint venture company with UK based-Watts Tyre plc, Watts Zarya Ltd.
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|Fuel cells power Yale equipment |
Joliet, IL, United States
|Lines of hydrogen fuel cell-powered materials handling equipment and cavernous spaces greet visitors to Central Grocers Inc’s new distribution center in a Joliet business park. Approximately 2,000 people attended a 29 March grand opening ceremony with the opportunity to see the equipment and tour the corporate headquarters, freezer/cooler space and ambient warehouse.|
“All the trucks are delivered and are in operation,” says Kal Anglewicz, president of dealership Yale Equipment & Services LLC of Rosemont, Illinois. Central Grocers purchased 219 fuel cell-powered Yale units and is retiring 170 battery-powered forklifts through Yale Equipment.
GenDrive-brand hydrogen fuel cell power units from Plug Power Inc of Latham, New York are installed on the Yale pallet trucks, reach trucks, counterbalance stand ups and counterbalance forklifts. Air Products & Chemicals Inc of Allentown, Pennsylvania supplied a liquid hydrogen storage compression system and multiple indoor fueling dispensers.
The member-owned wholesale grocery co-operative invested about USD90 million in buying real estate, constructing a state-of-the-art 934,340 square foot (84,104 sqm) facility and purchasing infrastructure and operating equipment.
“This is a great moment not only for our company but for the Chicago area as a whole,” says Jim Denges, chief executive officer of Central Grocers.
Central Grocers had operated from a base in Franklin Park, Illinois for 52 years. The move of 35 miles (56 km) to Joliet positions the firm near the intersection of two interstate highways and improves its ability to serve more of the metropolitan Chicago area in Illinois and north western Indiana.
Local officials approved abating 50% of the site’s property taxes for five years. Also, the cooperative will receive USD3.8-million in state corporate tax credits and USD87,500 for employer training.
Former affiliates of another cooperative, Certified Grocers Inc of Hodgkins, Illinois, become members of Central Grocers in May. The enlarged organisation under the Central Grocers’ identity will employ about 500 persons and supply 225 independent businesses operating 450 stores in four states.
|Low-emission system undergoes trials |
Oak Park, MI, United States
|A low-emission electric power (LEEP) lift system for electric utility and telecommunication aerial forkifts is undergoing customer in-service demonstrations.|
The trial LEEP Lift-brand systems from powertrain developer Azure Dynamics Corp of Oak Park are integrated on equipment from construction machinery manufacturer Altec Inc of Birmingham, Alabama.
Publicly traded Azure reported the trial on 31 March.
The first demonstration of the Azure LEEP Lift system was commissioned and tested during the third quarter of 2008 and delivered to Altec for additional internal testing. The initial unit demonstrated fuel savings of up to 30% versus a conventionally equipped truck on a representative test cycle.
Azure and Altec signed a memorandum of understanding in March 2008 to develop LEEP Lift systems for the aerial lift truck application.
Pursuant to the completion of the definitive agreement, Altec will integrate Azure's systems into utility and telecom truck bodies. Altec will market, sell and service the systems through an existing sales and service network.
|Strong start buffers economic storm for PSA Group |
|Despite strong growth for PSA Group sharply dropping after the first half of 2008, Singapore has maintained its position as the world’s busiest container port for the fourth consecutive year.|
PSA Group handled 63.2 million TEUs for the financial year ended December 2008, 7.3% more than the previous year. Its flagship terminal in Singapore handled 29.0 million TEUs, growing 7% year-on-year while its terminals outside Singapore recorded a throughput of 34.2 million TEUs, 7.7% higher than 2007.
While group revenues increased 5.8% from SGD4.151 billion (USD2.734 billion) to SGD4.392 billion (USD2.892 billion), net profit dropped 46.2% from SGD1.94 billion (USD1.277 billion) to SGD1.043 billion (USD683.6 million) due to lower yields, higher operating costs, impairment provisions and lower divestment gains.
Strong growth up to July 2008 was quickly eroded by a collapse in demand on major trade lanes in the last quarter of the year.
Fock Siew Wah, PSA International group chairman, says 2008 “was shaping up to be another record-breaking year for the PSA Group, with the first seven months bringing strong volume surge and record volumes handled.
“Unexpectedly, the group experienced a sharp and abrupt business decline in the later part of 2008 as the global financial crisis rapidly deteriorated into a major global slump and recession.”
Fock adds that the strong first half of 2008 cushioned the negative effects of the later months, enabling the Group to have “reasonably credible” financial results for 2008. He says PSA will work with management, staff and unions to cut costs and increase productivity to combat the difficulties ahead.
PSA International group CEO Eddie Teh agrees, saying 2008 was a year with a “Dr Jekyll and Mr Hyde personality”.
“Most of the group’s terminals across the globe handled record volumes in the first few months of the year but by year end, the financial crisis had reached epic proportions with most economies in recession.
“I see an extremely tough and increasingly challenging year in 2009, with more and more economies falling prey to the collapse of the financial systems, and global trade almost grinding to a halt.
“All eyes are on the rescue and stimulus efforts of governments around the world to prevent further shrinkage to their economies, and to mitigate the severity of the global recession, the success of which will determine the extent of the contraction of global trade flows, and its long-term impact on our industry,” Teh believes.
PSA’s flagship Singapore operations accounted for 50% of its total turnover for FY2008 compared to the previous year’s 51%. Its European terminals contributed revenues totaling SGD1.4 billion (USD921.5 million) or 32% of group turnover. PSA’s China terminals contributed 4% of total turnover while newly-acquired terminals in the Americas contributed 3%.
Profits from port operations were SGD1.4 billion (USD921.5 million), 22% less than the previous year. Singapore port operations continue to be the major contributor, posting over 50% of profits from port operations.
PSA International is one of the largest port operators in the world. The company operates 28 port projects in 16 countries across Asia, Europe and the Americas with a global capacity of 111 million TEUs over 66km of quay length. It has been voted “Best Global Container Terminal Operator” at the Asian Freight & Supply Chain awards for three consecutive years since 2005.
|Hyster extends forklift range |
Fleet, United Kingdom
|Hyster has completed its 1-9 tonne Fortens range with the introduction of the H8.0-9.0 FT series forklifts for the paper, wood, beverage, metals, ports, automotive and construction materials industries.|
The 8-9 tonne forklifts share features with the H6.0-7.0 FT series including the frame construction, low-maintenance oil-immersed brakes, leak-free hydraulics and drivetrain. They have a compact design, with a wheelbase of 2,450mm.
Ergonomic traits include a full suspension seat with swivel option, adjustable seat armrest, user-friendly mini-lever controls, more floor space and an isolated operator compartment that minimises vibration.
Hyster claims the forklifts’ Tier 3-certified 82kW Cummins QSB3.3 turbo diesel engine has the lowest CO and particulate emissions levels in the 8-9 tonne forklift segment.
“This series wraps up the induction program for the entire 1-9 tonne Fortens diesel/LPG truck range, which started in 2005. [It] allows us to compete strongly in the 8-9 tonne segment ,” says Han Seijger, managing director for Hyster Europe, Middle East & Africa.
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|Clark salutes star performers|
LEXINGTON, KY, United States
Clark Material Handling Company has given awards to its top achieving North American sales representatives and rental managers. The winners were nominated by dealer principals, reviewed by previous winners, and then selected by Clark’s senior management.
“They represent the best in our industry,” Clark CEO Dennis Lawrence says.
To view the winners’ list, visit www.clarkmhc.com.
Order picker wins award
NEW BREMEN, OH, United States
One of Crown Equipment’s forklifts has won the Good Design Award sponsored by the Chicago Athenaeum Museum of Architecture and Design for the fifth time.
The Crown GPC 3000 series order picker, available in Latin America, Europe, China and Australia, was lauded for its “superior operator comfort, visibility and contribution to warehouse efficiency”.
Other winners for the annual awards include Apple Computer Inc, BMW, Google and Whirlpool Corp.
Skyjack appoints distributors
Skyjack has appointed North American dealers West Coast Equipment of Rialto, California and MacAllister Equipment of Rockford, Illinois to distribute its telehandlers, vertical.net reports.
West Coast Equipment will represent the Zoom Boom heavy-duty telehandler range in southern California. The line ranges from 6,000-32,000lbs (2,722-14,515kg) capacity with lifting heights up to 56ft (17m).
MacAllister will distribute the VR line that was previously sold under the Ingersoll Rand label.
|Belgian king visits TVH |
|Belgium’s royal couple, King Albert II and Queen Paola this week visited the home town of materials handling manufacturer TVH – Group Thermote & Vanhalst.|
During the royal visit to Waregem, the king visited the TVH plant, accompanied by the mayor and two aldermen.
The visit included introductions to the firm’s founding families and the rest of the management team. He was told “the human story behind the business”, according to a spokesman, with an explanation of TVH’s adapatability in tough times and its human resources innovations.
The king visited the sales offices and the automated parts warehouse, where he was impressed by the ingenious operation of the well-oiled network of conveyor belts, sorting machines and order picking.
TVH – Group Thermote & Vanhalst is a worldwide supplier with customers in more than 162 countries.
|Movers & Shakers|
|Manitou BF has appointed Christian Caleca, a former vice president of Trelleborg Group, as its new chief operations officer. Caleca, 50, a graduate of ESSEC, was vice president, responsible for several business units, at Trelleborg for 10 years. According to Manitou, Calleca has held the positions of commercial director, industrial director and vice president with different industrial groups. He will be responsible for the industrial department, domestic and international commercial departments and purchasing and logistics at Manitou.|
|Red Australia has been sold |
Seven Hills, New South Wales, Australia
|Local distributor of Komatsu forklifts, Red Australia, a wholly owned subsidiary of Sumitomo Corporation, has been bought through Komatsu Australia Holdings, a wholly owned subsidiary of Komatsu Ltd of Japan. |
The acquisition took effect on 31 March 2009.
The company plans to change the name of Red Australia to Komatsu Forklift Australia Pty Ltd (KFAP).
According to a statement from the Tokyo-based parent company, Komatsu anticipates that, in light of the view that the population is increasing more steadily in Australia than other industrialised countries, the economy will grow in the mid-to-long range span and thus demand for forklift trucks will increase.
Red Australia has released a statement to say it will continue with “business as usual”.
The company also says that in relation to all other brands that it represents (PM Cranes, Baumann and Kevrek), “business will continue as usual as Komatsu sees a number of synergies within the non-Komatsu agencies. As with Komatsu, it is expected that Red will continue to grow volume and marketshare with these agencies”.
|Iconic manufacturer in receivership |
Ballarat, Victoria, Australia
|Lyco Innovations, manufacturer of products across multiple industries including materials handling, farming, wool harvesting and earth moving, has gone into receivership.|
The company’s secured creditor appointed Keith Crawford and Colin Nicol of McGrathNicol as receiver and manager late yesterday.
According to a statement by McGrathNicol, this occurred in response to the appointment of a liquidator by the directors of the company following their assessment that the company was unable to meet its ongoing financial obligations as a result of deteriorating business conditions.
“We will be working closely with management and other stakeholders to confirm the company’s current financial position and to assess the extent to which the business can continue to trade while a sale of the business (either in whole or in part) is explored,” says Crawford.
McGrathNicol has also been appointed receiver and manager of related entities, Lyco Holdings Pty Ltd and C.S. Nominees Pty Ltd.
According to a report in Victoria's The Courier on Monday this week, eight staff were made redundant in November last year to lower the company’s operational costs. In February, managing director Richard Lyons announced management and staff would work a four-day week for up to 12 weeks. The four-day working week was intended to retain workers in anticipation of business picking up.
Lyco has employed hundreds of people across the region for the past 38 years.
|WA focuses on freight |
Fremantle, Western Australia, Australia
|The first meeting of the newly established Freight and Logistics Council of Western Australia was held in Fremantle last week.|
According to transport minister Simon O'Brien, the new council is evidence the Liberal-National government is responding to industry's need to realign freight and logistics policies to give WA the best opportunity to grow into the future.
He says governments have to work with industry as it changed to integrate all parts of transport supply chains.
“A fully integrated logistics approach to moving freight drives efficiency and productivity.
“In bringing together senior freight and logistics decision makers from the private and public sectors, we have an opportunity to align State Government objectives with industry practice.”
Strategic issues to be focused on include:
• protection of freight corridors
• private sector involvement in WA ports
• national shipping policy
• port planning
• international trading terms
• rail network planning
• WA’s input to national transport planning
• single national rail safety regulation.
Parliamentary secretary to the minister for transport, Bill Marmion, has been appointed to represent the minister on the council and to ensure a close relationship is maintained between industry and the government.
|Audit survey to improve crane safety |
Rocklea, Queensland, Australia
|Global crane supplier Konecranes has introduced an audit service to Australasian industries to help them determine whether their lifting equipment is meeting optimum performance and safety standards.|
The Crane Reliability Survey (CRS) tracks the condition, reliability, service life and operating safety of a crane and its components, and provides an exhaustive analysis and a comprehensive report which serves as a solid basis for crane owners to make sound decisions about the future use and maintenance of the crane.
The CRS can be particularly valuable in ensuring compliance with mandatory 10-year mechanical and 25-year structural inspections in accordance with Australian Standards (AS2550.3), says Konecranes national sales manager Bill Shukla.
“Every crane and situation is different, so each CRS is customised to address the specific concerns and needs of particular industries and particular companies,” says Shukla. “CRS presents the best possible return on capital investment, with better predictability and control over the total cost of ownership.”
|Business hunkers down |
|The latest Australian Industry Group - PricewaterhouseCoopers Australian Performance of Manufacturing Index (Australian PMI), which measures manufacturing activity, suggests economic conditions have not bottomed out and the outlook remains uncertain. |
“Business is hunkering down and hoping that conditions will improve in the second half of the year,” says AiGroup chief executive Heather Ridout. “Whether they will, remains to be seen.”
According to the survey, the manufacturing industry continued to deteriorate in March, although the rate of decline has eased.
Key Findings for March include:
• The seasonally adjusted Australian Industry Group-PricewaterhouseCoopers Australian PMI rose slightly, by 1.7 points to 33.4.
• The inventory adjustment process continued in March, with sales being partly drawn from existing stocks as new orders fell again. The associated decline in manufacturing production gathered further momentum in March and employment fell for the 13th consecutive month.
• Firms continue to point to weak domestic and global demand for manufactured goods, including from China; project cancellations; lack of credit availability; and competition from overseas products as the prime causes of the downturn in manufacturing.
• Input cost growth eased modestly in March, while selling prices remained essentially stable. Wages growth eased for the sixth consecutive month.
• Exports fell as global demand for manufactured goods continues to decline.
• Manufacturing activity fell in all states except Tasmania where it rose slightly. The largest falls were recorded in New South Wales and South Australia.
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Editorial Calendar 2009
Rough Terrain forklifts
Safety products in MH
Forklift Market in Canada
Forklift Market in the United Kingdom
Fleet & Asset management
Narrow Aisle forklifts
Forklift batteries and power solutions
Forklift Market in India