While everyone has their sights on ConExpo in March, it might be easy to overlook what a busy year 2016 turned out to be. Here’s an quick overview, plus a timeline, of what happened in the construction equipment industry last year. Bonus: check out our editors’ quick predictions for 2017 on page 30. (Note: In order to meet our print date, we had to cut off entries in mid-December, so this report won’t include events after that point.)
Two biggest auction players become one
Ritchie Bros. bought the online heavy equipment auction company Iron Planet for $758.5 million, and combined, the two companies are expected to generate online sales of $3 billion in assets annually. Ritchie Bros. also formed an alliance with Caterpillar, becoming Caterpillar’s preferred global partner for live onsite and online auctions once the IronPlanet acquisition becomes final.
Read full story HERE.
