Check out some interesting headlines around the industry this week.
$1.5 Billion Vegas Spaghetti Bowl Overhaul Starts April 7 (Construction Equipment)
"The huge overhaul of the Las Vegas Spaghetti Bowl, often called Project Neon, will officially get under way April 7th. The intersection at the merge of State Route 564, I-215, I-515, U.S Route 93 and U.S Route 95 is the busiest stretch of roadway in Nevada and on average sees 300,000 vehicles a day, 25,000 lane changes an hour — and three crashes every day." Read more
Top 50 Construction Equipment Makers Lose Revenue (Construction Week Online)
"The fall in global commodity prices and slowdowns in many emerging economies saw revenues for the world’s 50 largest construction equipment manufacturers fall by 16.2% last year to $133bn, according to the ‘2016 Yellow Table’ report compiled by International Construction." Read more
National Oilwell Varco is Prepping for a Big Acquisition- Buy Why? (Seeking Alpha)
"National Oilwell Varco (NYSE:NOV), the largest US based oilfield equipment maker, has been struggling with mounting losses and declining shares. Since the beginning of last year, the Houston, Texas based company has lost more than half of its market cap and it has recently reported its worst quarterly loss since 2000. But last week, Clay Williams, the company's CEO, said that he wants to make a billion dollar acquisition." Read more
KHL: Global Construction Equipment Market Down 16.2%; Cat Retains No. 1 Spot (Equipment World)
"Construction manufacturers across the globe have taken a hit this past year, reports European construction publisher KHL in its releasing its annual Yellow Table. Revenues for the world’s largest construction equipment manufacturers dropped 16.2 percent to $133 billion. KHL says these are the lowest revenues reported in the table since 2009, when the industry saw sales fall to $109 billion during the Great Recession. It is also the sharpest year-over-year fall in revenues since that time. " Read more
Rama Orders City Hall: Stop Buying Heavy Equipment Made in China (Sun Star Cebu)
"CEBU City Hall’s Bids and Awards Committee (BAC) wants the City Government to stop buying or accepting heavy equipment or vehicles that are made in China. Department of Social Welfare and Services (DSWS) Chief Ester Concha, who heads the BAC for goods and services, wrote all 21 department heads of City Hall about the new policy." Read more
