Send this newsletter to an associate
|It started with a single message sent from one computer to another at UCLA 40 years ago, and now the Internet is so much a part of business and leisure that many of us couldn’t survive without it. Try taking Facebook or Twitter away from your teenage child and you’ll find out just how engrained the technology has become. Of course, for businesses like ours that were built on an online platform and where many of our team work remotely, the Internet is no luxury. It is an essential part of our operation – like electricity or telephones. Sure, you can’t use the Internet for lifting a load or moving a pallet, but you can certainly use it to find the hardware for those jobs, find more efficient ways of doing them and even reach the customers whose demand led to the need to move the pallet in the first place. So, from all of us at Forkliftaction.com, happy birthday Internet – and many more to come!|
|JCB stays profitable despite downturn |
Rocester, United Kingdom
|JCB has reported profits for 2008 despite the sharp decline in the global construction equipment industry.|
JCB chairman Sir Anthony Bamford says 2008 was “very challenging” for the construction equipment industry but the company responded quickly to the downturn by “taking difficult decisions” to ensure production was aligned to demand.
“These actions ensured we remained profitable and the ongoing cost reduction program at JCB means the company [will] emerge from the downturn stronger, leaner, fitter and more successful than before,” Bamford says.
According to JCB, the global construction equipment market shrank by 15% in 2008.
The UK construction equipment maker recorded pre-tax, pre-exceptional profits for 2008 of GBP39 million (USD64 million) on the back of a GBP2 billion (USD3.3 billion) turnover. It claims that its total sales of 57,000 machines and global marketshare of 10.8% makes it the world’s third-largest construction equipment brand, and the world’s number one manufacturer of backhoe loaders, with over a third of the market.
A top performer in 2008 was JCB Agriculture which achieved a sixth successive year of growth. Its sales grew by over 14% on the back of an agricultural sector that held up better than the global construction equipment market.
Bamford explains that world markets continue to decline this year but JCB’s sales have not fallen at the same rate. “We are continuing to gain market share in some key markets, including UK and Ireland, Germany, Brazil and Russia and the CIS.”
In 2007, JCB reported profits of GBP187 million (USD307 million) on a turnover of GBP2.25 billion (USD3.69 billion) and sales of 72,000 machines.
|Plimsoll: UK forklift market due for consolidation |
Stockton, United Kingdom
|Many struggling UK forklift companies will finish the year in financial difficulty, according to Plimsoll’s latest study.|
David Pattison, author of the Plimsoll Industry Analysis, says an assessment of the top 466 forklift companies in the UK shows that 137 companies will end the year with financial problems.
“Sadly, some of them are just too weak to carry on and there will be a spike of failures in the New Year.”
On the flipside, their demise will bring a “welcome reduction in competitive pressure” for those left, Pattison says.
Among the gloom and doom, there have been some outstanding performers.
Pattison says there is a group of 166 companies that prove success is achievable in the forklift industry despite difficult trading conditions.
“These companies will lead the industry out of recession with some smart acquisitions and maintain their recent success,” he predicts.
He adds that the market is due for a prolonged period of consolidation. “With too many companies chasing weakened demand, it is inevitable that there are likely to be a number of high profile mergers and takeovers,” he explains.
In the study, Pattison also identifies companies that continue to chase sales despite mounting losses.
“There are a group of 64 serial loss-makers still operating in the market. For the second and even third year running, [they] have made a loss. Whether they are blatantly chasing sales or just trying to maintain their marketshare, something has to give.
“The recession has put prudence back at the forefront of boardroom strategy, and these companies have to cut their cloth accordingly or face the consequences,” he warns.
Forkliftaction.com News readers will get a GBP50 (USD82) discount off the 2010 edition of the Plimsoll Industry Analysis if they call +44 1642 626 400 and quote PR/AA10.
|Forklift industry and the art of its deals |
|By Tom Andel, Contributing Editor|
The forklift industry has seen its share of “marriages of convenience”. Toyota and Raymond; MCFA and Jungheinrich; Hyster and Yale. One could argue these are alliances, not marriages, and that all these brands have maintained their individual identities in the eyes of the customers.
Is that true? Do customers get anything out of these deals? And what about the equipment dealers? Some are bound to suffer significant losses as industry consolidation leads to survival of the fittest.
This complex situation was the topic of Forkliftaction.com News' final question in its industry survey series. Members of the Material Handling Equipment Distributors Association (MHEDA) and the Industrial Truck Association (ITA) were asked how consolidations and partnerships will reshape the industry and influence forklift innovations. We’ll present three sides of the story: the positive, the negative and those who anticipate a mix.
A sweet blend
Brett Wood, president of Toyota Material Handling USA, heads the leader in this market. In 2000, when it acquired the BT and Raymond brands, Toyota started learning some valuable lessons from these new alliances.
“Consolidations and partnerships bring the benefit of more minds to the table,” Wood says. “More brainpower and combined efforts should result in lift truck innovations being sped up and brought to the market sooner.”
Tim Hilton, chief executive officer of Carolina Handling, LLC, agrees consolidations will enhance innovations, but the speed will depend on the successful integration of these businesses from both a technological and cultural basis.
“The industry will also become even more competitive with these integrations,” he predicts.
However, it would be a mistake to limit the scope of these effects to the US market alone. Duncan Murphy, president of Riekes Equipment Company in Sioux Falls, SD, notes that this is a global industry, and even if continued consolidation results in fewer suppliers and distributors, the world market will expand application ideas.
“The general quality of forklifts has improved immensely in the past 10 years, but there is still a strong motivation to differentiate a brand to improve margins,” he maintains. “That will continue to drive innovation in products and services away from a commodity perspective.”
In fact Kenneth MacDonald, president of M&G Materials Handling Co., East Providence, RI, says consolidation and partnership yield synergistic benefits for research and development.
“The cost of R&D can be spread over a greater number of products and thus give a better return to the manufacturer that embraces that model,” he says. “This might give the CFOs of those manufacturers more security to invest in R&D.”
Just as Wood envisions consolidations speeding innovations to market, Stu Jacover, president of R&J Midwest Equipment, Inc. in Chicago, sees the economy speeding up consolidations.
“This market experienced a 50% decline in new unit sales over the past year,” he says. “An equal driver in this transformation of the marketplace is unprecedented competition from low-cost overseas forklift manufacturers that are producing high-quality, low-cost products. The competitive pressure being applied by Heli, EP, Hytsu and numerous other upstart companies will collectively force old guard manufacturers to continue to provide their customers with innovations or risk losing these customers to the upstarts.”
A bitter brew
Several respondents to our question of the week believe innovation must - and will – happen, regardless of consolidation. Mark Milovich, president of Lift Atlanta, Inc., cites the improvement of electric technologies and fuel cell advances as priorities. He also believes major players will drop out, and that’s to be expected, but not desired.
“I think we are yet to see a large, main player in the material handling industry fall out of play, either through consolidation or liquidation,” he says. “Somewhere in our industry is the Oldsmobile or Pontiac—a brand that will cease to be marketed. Distribution networks will be affected, long-time dealerships will be gone, and there will be one less choice for consumers.”
Bill Rowan, president of Sunbelt Industrial Trucks of Dallas, TX, believes those improvements Milovich mentioned will come slowly until the industry returns to profitability.
“All manufacturers are struggling,” he says. “I believe the biggest innovations come during an ‘up’ market, when some of the profits can be targeted toward research and developing new innovations. Right now, everyone is in a survival mode and research is a luxury most cannot afford and will not invest in.”
John Faulkner, president of Denver-based FMH Material Handling Solutions, Inc., puts it simply: “There will be fewer dealers and only the financially strong ones will make it.”
A bittersweet mix
James Malvaso, president and CEO of The Raymond Corporation, is putting his chips on red and black, seeing the possibility for one of two scenarios:
Scenario A: Consolidation will result in the merging of technology, components and products, resulting in platforms that are compromises for various market requirements but ignore market specific needs. Innovation will suffer because the objective becomes one of commonality, not invention.
Scenario B: The combined resources of merging companies will bring innovations to market quicker because knowledge is shared across a broader base. This would result in less duplication of initiatives and more resources being focused on specific innovations, thereby improving time to market.
Jerry Weidmann, president of Wisconsin Lift Truck Corp., says consolidation is a natural reaction to our economic climate. By consolidating, companies improve their financial performance. With improved financial performance, companies are better able to maintain investments in innovation and product development at a lower level of industry sales.
“There may be less innovation in the long term due to fewer players,” he says. “But without consolidation, the profitability of the industry will deteriorate, making it increasingly difficult for all players to maintain research and development.”
But let’s not forget the “upstart” effect that R&J’s Jacover mentioned. Bruce Pelynio has tied his wagon to the leading upstart. He’s president and CEO of Memphis-based Heli Americas, which distributes and supports the products of China-based Anuhi Heli. He believes the market flux and pricing pressures are helping push dealers his way.
“I understand the desire of Jungheinrich to shut down operations and accessing Cat’s dealer network, saving 60 head count, but to just arbitrarily cancel your existing dealer network—and how do you cancel six of the top ten dealers without expecting a strong response from those dealers cancelled? Then there’s the situation with Komatsu.”
Earlier this year, Crown Equipment announced it would distribute Komatsu-built internal combustion forklifts through its 40 dealers in the US and Canada. The forklifts are marketed under the Hamech brand and are based on Komatsu’s current model range. This deal gave Crown’s 62 independent dealers in North America the option to offer Hamech in their product lines.
“The consensus among Komatsu dealers is (that) when April comes around, they seriously doubt whether Komatsu will re-establish North American manufacturing,” Pelynio concludes. “They’ll lose the Crown contract for the Hamech truck and that will add fuel to that fire. We’re starting to get inquiries from Komatsu dealers.”
A lot will happen in the next six months. Don’t be surprised if there are more unexpected pairings and product line developments. If forklift purchasers share in the benefits from these deals, 2010 may be a happy new year for the industry.
|Agents, dealers wanted |
|Omega Lift Manufacturing is selectively seeking strong dealers to represent it's premium line of All Terrain and Multi-Directional forklifts worldwide.|
Omega Lift is an award winning Canadian manufacturer with a reputation for exceptional quality that offers a complete range of Vertical Mast, Telescopic Handler and Multi-Directional all terrain models with capacities to 25,000 kgs.
If you are interested in promoting these world-class products, forward your company name and contact information to Nick Acocella, Director International Sales & Marketing. firstname.lastname@example.org
All enquiries will be treated confidentially.
See http://www.omegalift.net for more company and product information
|Zumbrin crowned Rodeo champ|
|Eric Zumbrin of KTH Parts Industries in St. Paris, Ohio was crowned Overall Rodeo Champion at the 2009 US Open Forklift Rodeo in Springfield last weekend. Zumbrin’s teammates also walked away winners, snaring the Clyde Parsons Team Spirit Award.|
The KTH driver also won the Msaters Division, beating teammate Larry Lawrence, who came second, while Stacy Lane of DWS, Inc (Columbus, Ohio) took third spot.
The Championship Division was won by Kyle Burton of the NEX Transport ‘’B’’ team from East Liberty, Ohio, while local Rich Reynolds from M&M took second place, followed by Joaquin Canico from Sumal+Compal in Lisbon, Portugal.
KTH Parts Industries Team “A” from St. Paris, comprising Zumbrin and Lawrence, took the team title. NEX Transport Team “B”, with Burton and David Brown was second, and the visitors from Portugal, Canico and compatriot Alexandre Teixeira took third place.
Organiser Richard E. "Big Bug" Higgins describes the event as a huge success, but he had to rely on hearsay, as ill-health kept him away from the event he conceived and planned.
“Weather became a problem on Saturday with wind and rain,” he explains. “Some of the outdoor events were squeezed inside, creating a lot more action.”
For Higgins, one of the event highlights was the “the enthusiasm of those rodeo competitors who came from far and wide”.
The next targets, he says, are Canada and Mexico.
“We are very pleased that the Lisbon, Portugal team went away having had a great time competing in the rodeo and seeing the area sights,” he notes.
Forkliftaction.com was among the event’s sponsors, and North America sales representative Rodger “Brumby” Lamb says the event is shaping up to be a true international contest.
“We are happy to be associated with an event that grows from year to year and are determined to see it develop even further,” he says.
|Konecranes expands to the US and outsources operations |
|Konecranes has expanded its machine tool service business to the US by buying Machine Tool Solutions Unlimited in Cincinnati, Ohio.|
“This is a technically challenging market with strong growth potential in the US,” says Tom Kurtz, general manager of Konecranes’ machine tool service business for the Americas.
Machine Tool Solutions was established in 2003. It provides machine tool rebuilding, control retrofits, preventative maintenance and calibration and repair services. The company’s annual net sales for 2008 were about EUR3.5 million (USD5.2 million) and it employs 18 people.
Konecranes says the acquisition is an opening for it to fulfill its goal of building a machine tool service network in the Americas. The acquisition enables the company to expand its service offering to North, Central and South America.
Before the acquisition, Konecranes’ machine tool service business was concentrated in the Nordic countries and the UK.
The acquisition value is not disclosed.
Separately, Konecranes has signed a contract to outsource its terminal operations in Hyvinkää to Finnish company HUB Logistics Packaging Oy.
Twenty employees will be transferred to HUB Logistics, retaining their existing jobs. The employees were involved in Konecranes’ terminal operations, which include the reception of goods, packaging and dispatch functions. The change takes effect on 9 November.
Konecranes says the outsourcing will result in cost savings, increased productivity and flexibility.
“[It] supports Konecranes’ strategy of focusing on its core business – improving our customers’ productivity and profitability by providing lifting equipment and services with unrivalled reliability and quality,” says Juha Anttila, director of supply operations in heavy lifting.
Anttila adds that the outsourcing is estimated to save EUR100 million (USD147.3 million) annually starting in 2010, compared to 2008.
HUB Logistics’ service offering includes the entire logistics process from managing and developing activities to financing working capital. Before the outsourcing, Konecranes bought packages and packaging services, and hired personnel from HUB Logistics.
|Mixed reports on CeMAT Asia |
|Over 45,000 people visited the combined trade shows of CeMAT Asia and PTC Asia at the Shanghai New International Expo Centre last week.|
Wolfgang Lenarz, senior vice president of show organiser Deutsche Messe AG, says the outcome of the trade fair was very satisfactory.
“The results were much better than expected. We see the excellent response to our exhibitions in Shanghai as an extremely positive signal for the relevant sectors of the industry,” Lenarz says.
Held from 26-29 October, CeMAT Asia for the materials handling industry and PTC Asia for the power transmission industry saw exhibitor numbers grow 6.5% from 2008 to 1,687. Over the four days, about 47,330 visitors from 50 countries viewed exhibits over a total display area of 94,000sqm (1,011,804sqft).
CeMAT Asia accommodated 380 exhibitors over a space of 23,000 sqm (247,569 sqft). Exhibitors included Kion, Crown, Heli, Global-Power, Liugong, Global Friend, Interroll, Kardex, Abus and Gorbel.
Joe Ritter, managing director of Crown’s commercial operations for Asia, says this is the first year the forklift manufacturer participated in CeMAT Asia. “It is a great opportunity for us to introduce Crown’s products. We are extremely happy with the quality of visitors and will surely come next year because of the importance of CeMAT.”
However, Forkliftaction.com’s sales executive for Asia, Patrick Chin, reports that for the first time, major forklift players like Toyota, Jungheinrich, TVH, Doosan Infracore, Komatsu, Mitsubishi and Nissan did not participate in CeMAT Asia.
Chin adds: “Like last year, I hardly saw visitors from Europe and North America as many say this show is more a local show [while] it is supposed to be an international show.”
Dennis Cheng, the sales manager of forklift parts supplier We-Lift Equipment Co Ltd, was among those not impressed with this year’s CeMAT. “ Heli was the (only) major Chinese exhibitor and we didn’t get any customer leads from the show.”
CeMAT Asia will be held with PTC Asia again from 25-28 October 2010 in Shanghai. The show organisers are Deutsche Messe AG, Hannover Milano Fairs Shanghai Ltd, China Hydraulics Pneumatic & Seals Association, China General Machine Components Industry Association, China Federation of Logistics & Purchasing and the Chinese Mechanical Engineering Society.
|Talk to your industry through Forkliftaction.com|
|Forkliftaction.com is a completely independent industry portal and, after nine years of operation, an established brand for forklift related news and online business resources. |
“If it is in Forkliftaction.com, the materials handling community is talking about it” Howard Quick, Regional product support manager for Linde Material Handling - North America.
More than 47,000 industry professionals worldwide have signed up as member with Forkliftaction.com.
The weekly news is re-produced in magazines, on other websites, intranets and extranets. It is passed on and shared with colleagues and customers by email.
It is indexed by Google and listed in ‘Google News’.
It is estimated that more than 160,000 industry professionals read Forkliftaction.com news at least once per month.
To learn more about our newsletter and web portal or about our advertising opportunities, contact us.
Ask us about our special volume packages and about our competitive prices.
For more information, write to email@example.com, phone +61 (0)7 3369 9090 or fax to +61 (0)7 3369 9096.
|Kenco to manage Komatsu plant’s logistics|
Chattanooga, TN, United States
|Komatsu America Corp. (KAC), a US subsidiary of Japan-based Komatsu Ltd., has selected Kenco Logistic Services LLC as the total solutions provider for its manufacturing facility in Newberry, South Carolina.|
The 220,000 sqft (20,400 sqm) facility on 80 acres (325,000 sqm) of land includes a plant designed for manufacture of compact to mid-size construction equipment and forklifts. Kenco provides parts sequencing as well as logistics management of both inside and outside storage and distribution.
“The complexities of the Newberry facility require a provider with proven expertise and in-depth knowledge of Komatsu,” says Komatsu’s director of manufacturing administration, Jim Mathis. “In our five-year relationship with Kenco, we’ve been impressed with how effectively they have kept pace with Komatsu’s evolving strategic direction.”
|EnerSys acquires Accu Holding |
Reading, PA, United States
|When John D. Craig looks back at 2009, he’ll remember it as a year of opportunity rather than economic slowdown. He’ll remember the last quarter, in particular, as the time his company, EnerSys, grew its global presence in the industrial battery market with the purchase of the industrial battery businesses of the Swiss company Accu Holding AG.|
In the transaction, still subject to approval by the general assembly of Accu Holding, EnerSys will acquire the stock of OEB Traction Batteries Inc. and the operating assets and liabilities of Oerlikon Stationary Batteries Inc., along with its Swedish sales subsidiary. The companies, which operate under the name Oerlikon Battery, have combined revenues in excess of USD50 million per year.
"We view the difficult economic environment as an opportunity for us to acquire good companies, with quality products and experienced people to help us extend our market leadership in industrial energy storage," commented Craig, chairman, president and chief executive officer of EnerSys.
All employees of these entities, as well as some Accu Holding employees, will be transferred to EnerSys. EnerSys is considering strategic options for Oerlikon Battery's factories in Switzerland, subject to appropriate consultation with the officials and employees concerned. One option is to transfer Oerlikon Battery's high quality designs to other EnerSys European factories. Concurrent with this acquisition, EnerSys is planning to establish a European product development and application centre in the Greater Basel area in Switzerland—serving both Oerlikon Battery and EnerSys customers.
|Sample of used equipment for sale:||Search 4209 listings in the Marketplace|
|and thousands more...|
Click here to include your used forklifts, stackers, telehandlers, container handlers, attachments etc.
|TICO forecasts profit for FY2010|
Toyota Industries Corp (TICO) has revised its financial forecast for fiscal year 2010.
The forecast for TICO’s net consolidated sales has increased 6.9% from JPY1,300 billion (USD14.4 billion) to JPY1,390 billion (USD15.4 billion).
Previously, TICO predicted a net consolidated loss of JPY10 billion (USD110.9 million) for FY2010, but the new forecast predicts a net consolidated profit of JPY4.5 billion (USD49.9 million).
TICO cites a review of projected unit sales of its automobile segment, cost reduction activities and a review of non-operating income and expenses as reasons for the revision.
Watts Tyres sold
Lydney, United Kingdom
Watts of Lydney Group has sold Watts Tyres to Premia Group Ltd to focus on strengthening its truck and van sales, service and parts business and its UK manufacturing companies.
Premia Group Ltd is a company controlled by former senior management of Watts Tyres. The latter will continue to be headquartered in Lydney under the new ownership and no job losses are expected.
Read Forkliftaction.com News next week to find out more.
Transport and Logistics in Antwerp
About 300 exhibitors participated in the Transport and Logistics show held at Antwerp Expo on 20-22 October.
The show featured a “Cold Logistics Zone” dedicated to cold transport and warehousing, and a “French Pavilion” that recognises the importance of the new industrial areas and business parks between Flanders and Northern France. Free seminars and workshops were held jointly with industry federations throughout the show.
Attendee Johan Bogaerts, managing director of Havelange, says the show is "a must for a region that lives from the distribution of goods".
"The participants and visitors were among the professional trend-setters in future state-of-the-art distribution networks," he says.
|Movers & Shakers |
|Vice principals lead JCB Academy|
Rocester, United Kingdom
JCB Academy has appointed two vice principals to lead the teaching team that will train future engineers and business leaders.
Mark Henshaw and Ruth Umerah will bring their experience to the regional centre created for up to 540 students aged between 14 and 19 from Staffordshire, Derbyshire and the cities of Stoke-on-Trent and Derby.
Henshaw was assistant head-teacher at Queen Elizabeth’s Grammer School, Ashbourne, Derbyshire while Umerah was senior assistant head-teacher at Alleyne’s High School in Stone.
New appointment at Terex
Westport, CT, United States
Terex Corp has appointed Jacob Thomas as senior vice president responsible for product development, marketing and the Terex Business System.
Thomas and his team will support the full production cycle for Terex equipment, from customer insights through to design, order, delivery and customer support.
Thomas was vice president of product development and technology for Terex from October 2007. Prior to joining Terex, he was vice president of the big-bore diesel engine business unit at Navistar International Corporation’s Engine Group.
|Careless forklift driver destroys alcohol|
|A forklift driver has accidentally destroyed over USD100,000 worth of alcohol in a Moscow warehouse.|
The CCTV camera in the warehouse captured the driver reversing into pallet racking holding boxes of cognac and vodka.
The racking, pallets and boxes came crashing down onto the driver and a neighbouring forklift, burying drivers.
Colleagues were seen climbing over boxes to dig the drivers out. One of the drivers is said to have suffered a minor foot injury, while the other escaped unscathed.
The videos, which have received numerous views, can be seen on YouTube.
|Defence forklifts sold on auction |
Melbourne, Victoria, Australia
|More than AUD4.1 million of industrial equipment including forklifts from the Department of Defence have been sold in a truck and machinery public auction program held over two weeks in Melbourne, Sydney and Townsville.|
The Manheim Fowles auctions attracted strong interest from around Australia and the goods sold included construction and earthmoving equipment, coaches, general plant, trucks, trailers and materials handling equipment.
According to Peter Carah, national truck and machinery remarketing manager, competition among bidders was fierce, with the company achieving a new record for the highest price at auction for a mobile crushing plant that sold for AUD665,000.
“Defence equipment is highly sought-after, as buyers know they are bidding on well cared for and well maintained items which, in most cases, compared to the current market, have low utilisation rates,” says Carah.
|Schenker retains ACMI |
Melbourne, Victoria, Australia
|Logistics specialist Schenker Australia has been reappointed by The Australian Centre for the Moving Image (ACMI) for 2009/10 to handle the logistics of moving all of its exhibition material.|
The contract includes moving the “Dennis Hopper and the New Hollywood” exhibition to Melbourne, a project involving the movement of more than 60 cubic metres of material from various locations in France, Germany and the US.
The exhibition will be displayed in Melbourne from 12 November 2009 until 25 April 2010.
|High-tech freight facility opens |
Melbourne, Victoria, Australia
|Logistics specialist DHL has opened its state-of-the-art airfreight facility in Melbourne, aimed at providing customers with a seamless cold chain handling environment.|
The AUD35 million facility, which covers almost 50,000 square metres, includes two coolrooms designed to handle pharmaceutical and perishables exports, using technologies such as automated temperature monitoring alarms, extensive multiple chiller chambers, freezers and temperature-controlled handling and loading areas.
The specialist nature of the pharmaceutical and life science sectors has resulted in DHL developing 850 square metres of multiple variable temperature-controlled coolrooms that meet GMP/TGA Standards – the highest attainable industry standards.
Tony Boll, CEO, DHL Global Forwarding, South Pacific, tells Forkliftaction.com News that materials handling equipment at the facility includes 13 battery-operated forklifts along with two 7 ton cargo handlers, all on hire contract.
|Economic recovery poses risks |
Melbourne, Victoria, Australia
|Businesses remain vulnerable to financial stress and failure in the early years of economic recovery following a downturn, according to new research from Dun & Bradstreet.|
The report warns that an economic recovery following a downturn can catch many businesses by surprise. Firms that are under-stocked and under-resourced as demand rises are left scrambling to fulfil new orders which can place significant pressure on cash flow.
“Firms are forced to outlay funds for items such as raw materials and labour to provide their products, but the payment gap results in negative cash flow,” says CEO Christine Christian.
"As economic conditions improve, there can be a tendency for firms to let out an audible sigh of relief and simply expect their own business conditions to improve," says Christian.
"However, D&B's research provides an important reminder to business executives that they need to plan adequately for an economic recovery and maintain a tight focus on the fundamentals of cash flow and risk assessment. Failing to do so could result in financial disaster."
Adding further pressure to financial stability, Australian firms are currently averaging 51.8 days to settle accounts, meaning that firms will be forced to wait an additional three weeks on top of the standard 30-day term to receive payments for their goods.
The research examined business failures in the recovery period following the ‘Dot Com’ bust of 2000. Rather than improving, business failures actually jumped 20.5% as the economy returned to positive growth in the 2001 financial year following the 7.1% contraction in the March 2000 quarter. This was followed by business bankruptcies increasing a further 5.1% in the 2002 financial year, when Australia recorded GDP growth of 3.8%. Failures did not begin to decline until the third year of recovery.
|Port expansion gains momentum |
Sydney, New South Wales, Australia
|The AUD1 billion expansion of container facilities at Port Botany has reached a significant phase with the laying of concrete “counterforts” which will form the face of the third terminal’s 1,850 metre wharf.|
More than 200 20-metre high concrete sections known as counterfort wall units are being constructed on site before being taken by barge onto Botany Bay and lowered into place.
The concrete counterforts will form the 1.8 km of new wharf face against which ships will berth when the terminal is completed in 2011. The outer wall will consist of 199 counterfort sections with an additional 17 units used for the tug wharves.
The giant concrete blocks are constructed at a concrete batching plant to reduce the impact of trucking movements on the local community.
Once completed, each unit is transported to a temporary wharf, taken by barge to its final location and lowered onto a compacted sand and gravel bed.
The new terminal will provide additional capacity to meet projected long-term trade growth for Sydney and provide better access to shipping lines for the state’s exporters.
According to NSW ports minister Joe Tripodi, the government will invest over AUD260 million in the terminal project this financial year as construction hits peak levels.
“Work at the new 63 hectare terminal has created more than 400 on-site construction jobs. It’s estimated once fully operational, the expanded capacity will boost the state’s economy by $16 billion over the next 20 years and deliver some 9,000 new jobs,” he says.
|Rail corridor on track |
Kerewong, New South Wales, Australia
|The modernisation of the Brisbane-Sydney-Melbourne rail corridor is picking up pace with the opening last week of the newly upgraded passing loop at Kerewong between Herons Creek and Wauchope in NSW.|
The AUD9.8 million project, funded by government, has increased the length of the existing passing loop and installed two new turnouts – infrastructure able to cater for much longer trains.
"The upgrade of the Kerewong passing loop is another important milestone in the north-south strategy to increase capacity and cut transit times from Melbourne to Sydney by 20% (up to 2 hours 50 minutes) and by almost 20% (3 hours 50 minutes) between Sydney and Brisbane,” says Australian Rail Track Corporation CEO David Marchant.
"The work currently under way on this vital rail corridor is part of the biggest rail project to be initiated since the track was originally laid more than a century ago.”
Send this newsletter to an associate
|Fleetman Consulting Inc., Vancouver, BC, Canada. |
|New Forklift & Used Lift Truck Fleet Management Experts|
Representing The Interests Of The End User
A leading edge forklift consulting firm with a unique approach toward forklift fleet management, located near Vancouver, BC, Canada, is attracting attention because the company is primarily focused on representing the interests of the end user. They are not associated or obligated to the forklift dealer network or lift truck manufacturers in any way and therefore they are in a position to offer unbiased and credible forklift solutions to all of their clients.
With over 20 years of lift truck industry experience, their extensive product and fleet management expertise is guaranteed to reduce all forklift costs such as buying, leasing, rentals, parts, service and operator safety training.
In addition, they look for efficiency gains that will lead to increased productivity, reduced downtime and a better overall return on assets. They also look for ways to increase safety and storage capacity without affecting other areas of your business.
Click here for the full text of this release, including pictures.
|New Dealer Announcement - TCM |
|TCM America, Inc, NJ Division, is pleased to announce that Brodie, Inc., one of New England’s premier materials handling equipment dealers is joining the TCM family. The company, headquartered in Lawrence Ma, brings over 60 years experience to the table as they begin marketing the entire TCM portfolio (Classes I, III, IV and V) in New England’s northern tier—Maine, New Hampshire and Vermont.|
Brodie, Inc’s hallmark is superior after-sales service and backup designed to build customer confidence. The company offers total turnkey support covering all aspects of logistics and warehousing. From lift trucks and racks to mezzanines, loading dock equipment and personnel carriers, Brodie, Inc. is committed to being their customers’ “one-stop shop” for all of their materials handling needs. This dedication will enhance the value of the TCM brand in the three-state area.
Click here for the full text of this release, including pictures.
|CeMAT MIDDLE EAST trade show in Dubai - February 2010 |
|USD 26 billion in investments for sea and air transport infrastructure to boost UAE's reputation as global logistics hub|
International business organisations, key government agencies confirm support at CeMAT MIDDLE EAST trade show in Dubai.
Deutsche Messe Dubai Branch, organiser of CeMAT MIDDLE EAST, the world’s largest trade show profile for internal logistics and materials handling that debuts in Dubai in February 2010, has revealed that leading global business organisations and key government institutions have made strong commitments to support the trade show. Deutsche Messe Dubai Branch further pointed out that international investors have been particularly impressed with the UAE's efforts to establish itself as a global logistics hub with around USD 26 billion in investments being made to develop the country's air and sea infrastructure facilities.
Click here for the full text of this release, including pictures.
Tip off Forkliftaction.com
Do you know something our readers should know? Write to firstname.lastname@example.org
or provide information anonymously here
1. Sales Executive - Full time
Australia, Sydney2. Equipment Sales Representative - Full time
United States, North Carolina3. Account Manager - Full time
United States, Harrisburg4. Customer Service Representative - Full time
United States, York, Allentown5. Sales Representative - Full time
United States, Jacksonville, Florida6. Sales Representative - Full time
United States, Orlando, Florida7. Aftermarket Sales - Full time
United States, El Paso8. Road Technician ***Electric*** - Full time
United States, Odessa, Texas
Editorial Calendar 2010
The Forklift Market in The USA
Attachments: Pallet Handling
Used Forklift Dealers
The Forklift Market in China
Materials Handling Equipment in Ports
The Forklift Market in Latin America
Industrial Tryes and Wheels
Batteries and Chargers
Materials Handling in Europe
Warehouse Counter Balance Forklifts