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IDA Connect is an industry resource for companies involved in the manufacture and distribution of parts for the heavy construction industry.
View the IDA Profile! Add yours today by clicking HERE. |
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| Intermat 2012 the best ever! |
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Intermat has just closed its doors and we take a look at some of the highlights of Paris's international construction event. With 1,350 exhibitors, 67% international, and more than 200,000 visitors -- a record for a B2B exhibition -- including 145,082 identified trade visitors (up 15.8% on 2009), 34.2% international, Intermat again demonstrated its international reach and confirmed its positioning in the Mediterranean and African markets.
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| Chile bill may eliminate import duties in 2015 | Terminal record for shipping giant | ||
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SANTIAGO (MarketWatch) -- One of the measures in the tax overhaul package President Sebastian Pinera announced late Thursday aims to eliminate import duties in 2015, Finance Minister Felipe Larrain said Friday.
Chile currently applies a 6% import tax to goods imported from countries that don't have a free-trade agreement with the Andean nation. The bill, which will be sent to Congress Monday, seeks to cut the import duty to 4% in 2013, then to 2% in 2014 and eliminate it in 2015.
Most of the country's main trade partners such as China, Japan, the European Union, the U.S., Canada, Mexico and others in South America already have free-trade pacts in place with Chile. "We aspire to turn Chile into a free port like Hong Kong and Singapore and we'd be the only country in South America without import duties," Larrain told reporters Friday.
If Congress approves the bill, the overhaul package will also raise the corporate income tax rate to 20% from a current 18.5%, reduce the tax rate for lower and middle-income taxpayers, reduce tax evasion, reduce the stamp tax on loans to 0.2% from 0.6% and raise taxes on alcoholic beverages with higher alcohol content.
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Productivity at Southampton's container terminal reached an all time high when one of the largest vessels of its type in the world was turned around in record time.
The terminal, in the city's Western Docks, set its best ever vessel turnaround performance when it handled the maiden call of the biggest ship in the Hyundai fleet.
This comes at a time when terminal operator, DP World Southampton, recorded a 20 per cent rise in productivity over the 12 months of last year.
Shipping lines calling at Southampton's container terminal are now recognising the benefits resulting from the port's continued drive on productivity as vessels' turnaround times are reduced.
In service since February, earlier this year, the vessel, Hyundai Together, capable of carrying up to 13,000 container units, was turned around in 24 hours, well ahead of her allotted time, and set new productivity records.
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| Caterpillar: A Strategic Approach To Acquisitions And Economic Diversification | Federal-Mogul Reports Increased Q1 2012 Sales Driven By Record Q1 Original Equipment Sales | ||
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In spite of global economic risk, Caterpillar Inc. (CAT) has been very strategic in its approach to acquisitions and overcoming economic adversity. With the purchase of Bucyrus in 2011 and its strength in global diversification, Caterpillar is expecting record breaking results in 2012.
In Q1 2012, Caterpillar reported a revenue and sales increase 23% to $15.981 billion, up from $12.949 billion. CAT also reported profits of $1.586 billion, or $2.37 per share, which is up 29% from a year-earlier when Caterpillar reported a profit of $1.225 billion, or $1.84 per share. The core of the growth came from the resource segment which reported significant gains in Q1 aided by the Q3 2011 acquisition of Bucyrus International Inc. Read More... |
SOUTHFIELD, Mich., April 24, 2012 /PRNewswire via COMTEX/ -- Federal-Mogul Corporation (NASDAQ:FDML) today announced first quarter 2012 financial results, including record Q1 original equipment (OE) sales. Total sales were $1.8 billion, up 2% versus Q1 2011 reflecting 5% growth in constant dollars, partially offset 3% by weakness of international currencies, primarily the euro, against the U.S. dollar. Original equipment sales were up 8% to $1.2 billion, the highest ever first quarter level. Net income in Q1 2012 was $32 million or $0.32 per diluted share and EBITDA was $168 million or 9.5% of sales. Investment in growth and manufacturing infrastructure increased 30% in Q1 2012 versus Q1 2011 to support customer demand for higher-content technologies to improve fuel economy, reduce emissions and enhance vehicle safety.
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| Ritchie Bros. sees industrial auction bidding as promising economic indicator | |||
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The bidders stared, ready to strike when their chosen items appeared on the block. The auctioneer shouted calls, a garbled string of words and numbers. Items streamed across the stage, waiting to find new homes.
These weren't the paintings and vases typically seen at auction. These were pickup trucks, payloaders, massive tangles of chain and rock crushers.
Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, brought 1,200 pieces of heavy construction equipment to auction Friday. More than 1,400 people from around the world gathered to bid in Apex, an industrial section of Las Vegas about 25 miles north of downtown. Another 700, some from as far away as Australia and Dubai, bid online.
Back in 2009, Ritchie Bros. told the story of a busted economy. Out-of-state buyers lined up at the Las Vegas auction house to catch a deal on equipment local construction workers couldn't afford to keep.
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