7
NEWS
This power trowel is part of a new range of
concreting equipment being produced by
Chicago Pneumatic, which will also include
vibrating pokers, walk-behind screeds and
asphalt and concrete floor saws. The new
equipment – built at factories in Bulgaria,
India and China – join the company’s
compressors, generators, lighting towers,
pneumatic tools and compaction range.
Chicago Pneumatic said the new line meant
that it now had products covering all
phases of a concreting project, including
ground settlement, concrete pouring, site
energy and demolition.
SHARE PRICES
Start date Previous mth
Current mth
% change
COMPANY
11/1/06
6/8/13
27/11/13
Acces Industrie (France)
€
0.47
2.02
2.35
+16.3%
Aggreko (UK)
£
2.75
15.98
15.56
-2.6%
Ashtead Group (UK/US)
UK£
1.83
6.55
6.90
+5.3%
Boom Logistics (Australia)
A$
3.70
0.14
0.14
-
Cramo (Fin)
€
13.0
12.53
16.47
+31 4%
GAM SA (Spain)
€
8.00
0.42
0.76
+80.9%
GL events (France)
€
29.96
16.91
17.59
+4.0%
H&E Equipment
US$
–
24.53
27.97
+14.0%
Kanamoto
Yen
–
2359
2501
+6.0%
Lavendon (UK)
UK£
2.20
1.83
1.81
-1.1%
Mobile Mini (US)
US$
46.2
30.80
40.50
+31.5%
Ramirent (Finland)
€
23.43
8.70
9.69
+11.4%
Speedy Hire (UK)
UK£
8.32
0.58
0.64
+10.3%
United Rentals (US)
US$
24.9
56.9
69.04
+21.3%
IRN
INDEX
100.0 216.3
232.4
+7.4%
Note: The index is based on aggregate changes in market values of the companies in the list.
The initial index value of 100 is based on values on 11 January 2006.
IRN
Rental Share Index
UK renters investing in
developing markets
IRN NOVEMBER-DECEMBER 2013
Two of the UK’s biggest rental
companies have established new joint
ventures in the Middle East and Asia
targeting oil and gas and infrastructure
activities.
Nixon Hire has agreed a joint
venture in Saudi Arabia with Al Jeri
Transportation and Speedy has
established a 50/50 rental joint
venture in Kazakhstan with Glasgow-
based shipping, transport and oilfield
services company J. & J. Denholm
Group.
Nixon’s venture with Al Jeri will
establish a rental depot in Jeddah
immediately with a second in Riyadh
to follow in the near future. The two
companies have agreed to jointly
invest more than £12 million of new
rental equipment for the business.
The new operation adds to Nixon’s
existing operation in Doha, Qatar.
Joint managing director, Graham
Nixon said; “The Middle East
is presenting many additional
opportunities for Nixon Hire at
the moment, most notably the
infrastructure development associated
with the 2022 World Cup. We have high
hopes that this success will continue in
our new locations”.
Speedy, meanwhile, has acquired
a 50% share of the rental business
of Denholm Zholdas - Denholm’s
subsidiary in Kazakhstan – for a price
of US$4.4 million. Denholm Zholdas
rents equipment to Kazakhstan’s oil
and gas sector industry, notably the
major fields at Tengiz, Karachaganak
and Kashagan.
The joint venture expands further
Speedy’s rental operations outside
the UK. Although the UK still accounts
for 94% of its revenues, it is its
international operation in the Middle
East - and primarily its project with
Zadco at Abu Dhabi’s Zakum field – that
is growing the fastest.
Speedy’s CEO, Steve Corcoran, said:
“Together with the Zadco project at
Abu Dhabi’s Zakum field, this joint
venture means that Speedy now has
a long-term presence at four of the
largest oilfields in the world.”
Date confirmed
for 2nd IRC
conference
The 2nd International Rental
Conference (IRC) in China will be
held in Shanghai on 24 November,
2014 – the day before Bauma China
– and will again feature top level
speakers.
Already confirmed as speakers
are:
■
Masaki Kurita, president of
Nikken Corp, one of Japan’s
largest rental companies;
■
Leigh Ainsworth, CEO of Coates
Hire in Australia;
■
Zeng Guang’an, vice chairman
and president of Liugong, one
of China’s major construction
equipment manufacturers.
Other speakers will be announced
in the coming months. The
conference will again provide
delegates with a mix of high-quality
rental management expertise
along with presentations on the
fast-developing Chinese equipment
rental market.
The confirmation of the dates for
the conference follows the success
of the first IRC held on 14 October
this year in Beijing, which attracted
an audience of more than 270
delegates. (A photo gallery of the
event can be found at
/
irc.) See page 40 for the conference
report.
■
For more details on the 2014
conference visit
Nixon Hire has been investing heavily
in its UK business as well.
