FORKLIFTACTION.COM
MATERIALS HANDLING ONLINE #40 January 17, 2002
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The independent, global newsletter for industry professionals.
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IN THIS ISSUE:
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1. BRAMBLES SELLS USA EQUIPMENT RENTAL BUSINESS
2. ECONOMIC SLOWDOWN DAMPENS PHILIPPINE FORKLIFT SALES
3. TCM TO BOOST FORKLIFT PARTS EXPORTS
4. INSIDE FORKLIFTACTION.COM
5. SAUER-DANFOSS BUYS THRIGE ELECTRIC MOTOR BUSINESS
6. IMHX 2004 ALREADY 25 PERCENT SOLD
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1. BRAMBLES SELLS USA EQUIPMENT RENTAL BUSINESS
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SYDNEY, Australia -- Brambles Industries has sold Brambles Equipment Services (BES) Inc, its North American equipment rental business, to Chicago, USA-based National Equipment Services (NES) Inc, which rents specialty and general equipment.
NES paid USD122 million for BES, of which USD94 million was cash. The balance is to be paid "later". The time frame was not released. Brambles had USD160 million in net assets and reported gross earnings of USD9 million for the financial year ending June 30, 2001.
The divestment of BES is the eighth in Brambles' quest to exit equipment rental worldwide. The NES deal follows the sale of Wreckair Hire, its Australian equipment rental business, to former competitor Coates Hire in December. Brambles sold its Australian forklift rental pool to Portland, Oregon-based Nacco Materials Handling Group in November 2000.
Forkliftaction.com broke the news in December that Brambles and NES were in discussions, although neither company would comment at the time.
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2. ECONOMIC SLOWDOWN DAMPENS PHILIPPINE FORKLIFT SALES
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MANILA, The Philippines -- The slowdown in the Philippine economy and the depreciation of its currency has affected national forklift and materials handling equipment sales.
Slow sales were aggravated by unstable political conditions, which dampened investor sentiment and confidence, particularly in the construction and mining sectors, according to an industry expert.
Johnny Valencerina, forklift consultant for Monark Equipment Corp, said the foreign exchange rate deteriorated from 40 pesos in 2000 to an average of 51 pesos against the US dollar in 2001.
However Mr Valencerina was optimistic the domestic forklift and materials handling equipment would recover this year. "We have to be creative in marketing our products," he said.
Monark Equipment is the exclusive dealer for Caterpillar forklifts and Tadano cranes and earthmoving equipment in the Philippines. The bulk of Monark's business is in cranes, graders, bulldozers and other earthmoving equipment, but forklifts constitute about 20 percent of the business.
Mr Valencerina, who has been in the materials handling industry for 12 years, said that, in the difficult economic climate, "we have to be more creative in dealing with customers, by offering them buy-back arrangements on equipment".
Monark has implemented a scheme in which it buys equipment back from customers, after a specified time, for re-selling to other buyers. About half of Monark's customers prefer to buy used equipment, Mr Valencerina said.
Another strategy is to offer clients rent-to-own equipment, where equipment is rented for a period of time, and the customer retains ownership when the rental term expires.
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3. TCM TO BOOST FORKLIFT PARTS EXPORTS
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LB[F:\data\NEW]TOKYO, Japan -- Japanese Forklift maker TCM Corp will increase forklift parts exports for assembly of forklifts in its overseas plants, aiming to set up a global logistics system which will lead to lower forklift prices.
Forklift parts exports currently command about five percent of TCM's total production. The company has manufacturing plants in the USA, China and Belgium, and distribution centres in Asia, Oceania, Europe, Africa, the Middle and Near East, and north, central and south America.
TCM started manufacturing forklifts at its Chinese subsidiary, Anwhei TCM Forklift Company, last October. A TCM spokesman told Japanese newspaper Nikkan Kogyo Shimbun that, in establishing an overseas base in China, the company was exploring business opportunities in Shanghai and other Chinese cities.
TCM began construction of a 12,000 square metre forklift manufacturing plant in China last October, and expects production to start there in June. Initial production will be 3000 units per year, but could increase to 5000 units, depending on Asian demand.
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4. INSIDE FORKLIFTACTION.COM
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5. SAUER-DANFOSS BUYS THRIGE ELECTRIC MOTOR BUSINESS
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LB[F:\data\NEW]AMES, USA -- Sauer-Danfoss Inc, a hydraulics, components and electronics company, has bought the electric motor business of Thrige Electric, Europe's largest low-voltage forklift motor supplier. The price was not released.
Thrige's low-voltage motor business includes Thrige in Odense, Denmark, and Schabmuller GmbH in Berching, Germany. Thrige produces motors, pumps, and steering and drive units for materials handling equipment. The business has about 450 employees and USD50 million in annual sales.
Sauer-Danfoss electro-hydraulics vice president Albert Zahalka said fuel cell technology would gain momentum. "We want to establish electric power technology ... to be competitive with the potential future technology shift in the materials handling market," he said.
Sauer-Danfoss, with 7000 employees worldwide and annual sales of USD950 million, has manufacturing and engineering plants in Europe, the Americas, and the Asia-Pacific region.
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6. IMHX 2004 ALREADY 25 PERCENT SOLD
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SURREY, United Kingdom -- More than 6500 square metres of floor space for the 2004 International Materials Handling Exhibition (IMHX) in Birmingham, UK, has already been sold, according to organisers Turret RAI plc.
More than 50 exhibitors from the 2001 event have re-booked, including Atlet, BT Rolatruc, Lansing Linde, JCB, Jungheinrich, Nissan and Toyota. IMHX director Paul Michael said many exhibitors were still "riding high" on the success of the first show. The 2004 event incorporates the International Handling & Storage Exhibition, the United Kingdom's biggest materials handling show.
"The overwhelming success of IMHX 2001 has meant the industry has united around our event, which means we will be able to deliver the best exhibition for the entire materials handling and storage industry in 2004," Mr Michael said.
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