Construction equipment industry demands cut in excise duty

The construction equipment industry has sought cut in excise duty from the government in the wake of a severe drop in demand due to slow execution of infrastructure projects.

Indian Construction Equipment Manufacturers Association (ICEMA) has asked the government to implement relief measures as the "industry has already witnessed a negative growth of over 30 per cent during the past two years and is recording new lows every month in sale of equipments."

"The ICEMA has demanded excise duty cut from the government on earthmovers and construction equipment in order to help survive the adverse scenario," ICEMA President Amit Gossain told PTI.

He said the industry has been playing a pivotal role in building infrastructure but has been hit due to a sharp decline in execution of infrastructure projects in the past two-three years.Land acquisition issues, absence of environmental clearances and severe deterioration in financial health of companies in the space has hit the sector's growth and many firms have already approached the corporate debt restructuring ( CDR) cell.

"The severe slowdown in demand has led to glut of inventory of equipments with the manufacturers and its authorised dealers. It has now reached a stage that is forcing the industry players to resort to periodic shutdown at their manufacturing facilities, leading to low morale and sombre mood among the workforce," he said.

Gossain is also the Chairman of CII Committee on Solid Waste Management.

News Source : http://articles.economictimes.indiatimes.com/2014-02-16/news/47379787_1_excise-duty-infrastructure-projects-construction-equipment

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Komatsu and GE Transportation sign agreement to establish joint venture for development of next generation mining equipment

Komatsu and GE Mining, a division of GE Transportation, have announced a new collaboration to develop next generation mining equipment.

By combining their expertise in mining equipment and propulsion systems, the companies will help meet the needs of customers and partners worldwide, with an initial focus on developing solutions to increase customer productivity and safety for underground mines.

The new company, Komatsu GE Mining Systems, LLC, will be located at the GE Transportation facility in Erie, PA and operations will begin in April 2014. Komatsu and GE will each own 50% of the new company.

Komatsu and GE Transportation have been partners for Komatsu electric dump trucks for use in open-pit mines, for which GE has supplied electric drive systems. By further building on the existing partnership, the new company will combine GE’s electric power expertise, electric drive systems, and battery technologies with Komatsu’s vehicle and ICT technologies for mining equipment to deliver innovative solutions to global mining customers.

Komatsu Ltd. (TSE: 6301) is a leading international manufacturer of construction and mining equipment as well as industrial machinery. In the construction and mining equipment business, it operates 42 plants in 13 countries. Komatsu is also the industry’s pacesetter in ICT applications, such as KOMTRAX (Komatsu Machine Tracking System) equipped in over 330,000 construction equipment working around the world, Autonomous Haulage System with unmanned mining trucks deployed in Chile and Australia, and GNSS-guided intelligent Machine Control dozers. For more information, visit the company’s website at www.komatsu.com

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website atwww.ge.com

GE Mining, a division of GE Transportation, can help carry your business through every step of the mining process, offering mining products, services and solutions in surface and underground mining. From the delivery of reliable power in remote regions, to water supply and management, to maximizing the output of your equipment our solutions are catered specifically to your business’s challenges in the most productive, most efficient, and even more importantly, the safest way possible. GE Mining offers global customers AC & DC electric drive systems for heavy- and medium-haul off highway vehicles, tethered electrical and battery vehicles and support equipment for intrinsically safe underground applications and a suite of additional equipment, services and solutions to solve your business’s needs. For more information, visit www.getransportation.com Komatsu Australia is the Australian and New Zealand distributor for Komatsu construction and mining equipment.

Source : http://www.miningweekly.com/article/komatsu-and-ge-transportation-sign-agreement-to-establish-joint-venture-for-development-of-next-generation-mining-equipment-2014-01-30

HEAVY MOBILE EQUIPMENT MARKET TO IMPROVE IN 2014

The heavy mobile equipment industry is expected to show steady improvement in 2014, according to a report from Great American Group Inc. The heavy mobile equipment industry is expected to show steady improvement in 2014, according to a report from Great American Group Inc. The report notes that the expansion of domestic oil and gas operations and commercial construction rebounds helped the industry thrive in 2013.

“The various sectors of the heavy mobile equipment market demonstrated growth in the fourth quarter of 2013, and are expected to continue to do so in 2014,” said Michael Petruski, executive vice president and general manager of Great American Group’s Advisory and Valuation Services division. “While new regulations do present challenges, the domestic market for heavy mobile equipment is strong and dynamic, and continues to climb toward pre-recession levels.”

Fracking has had a major impact on domestic manufacturers as the low-cost ethane found in these deposits has made the U.S. competitive on a global scale. These developments have spurred a number of new chemical and plastic construction projects to expand existing facilities and bring new processing and manufacturing plants online.

For more information about industry trends in cranes and lift equipment, construction equipment, intermodal and rolling stock, download Great American Group’s latest Heavy Mobile Equipment Monitor.

Source : http://www.constructionequipment.com/heavy-mobile-equipment-market-improve-2014

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Volvo Construction Equipment Rounds off 2013 with Sales Up 3%

A slowly recovering global market helped Volvo Construction Equipment round off 2013 with sales up 3% in the fourth quarter, deliveries up 9% and improved market share, especially in compact equipment, while demand in the mining segment remains soft.

In the fourth quarter of 2013, Volvo Construction Equipment reported that net sales increased by 3% to SEK 13,005 compared to SEK 12,572 in the same period of the preceding year. When adjusted for currency movements, net sales increased to 6%. These improved figures are due largely to higher sales of smaller equipment, helping to boost deliveries by 9% during the quarter. Demand for larger machines, especially in the mining segment, remains subdued, however.

Operating income was up 16% during the period, at SEK 272 M, compared to SEK 235 M in the same period of the previous year. Operating margin also saw improvements in the fourth quarter, at 2.1% – up from 1.9% in Q4 2012.

Late improvement rounds off challenging year

Despite the sales increases in the final three months, for the full year 2013, Volvo CE saw sales decrease by 16% to SEK 53,437 M, compared to 63,558 M in 2012. Operating income was also down during the year, a result of tough price competition, weak product mix, low capacity utilization and unfavorable exchange rates, to SEK 2,592 M, down from SEK 5,667 M in the preceding year. Operating margin was also affected, slipping to 4.9% in 2013 from 8.9% in 2012.

These figures reflect the general weak market conditions experienced during the year.

Growth in 2014

The prospects for 2014 are expected to show some improvements as global markets recover. For 2014, the total markets in China and Europe are expected to increase in the range of 0-10% measured in units, while North America, South America and Asia (excluding China) are all expected to be in the range of minus 5% to plus 5%.

“For 2014 we expect a slight improvement in market demand, mainly driven by China and Europe,” commented Martin Weissburg, the incoming president of Volvo Construction Equipment, who joined the company on January 1, 2014.

NEWS SOURCE: VOLVO CONSTRUCTION EQUIPMENT FEB 7, 2014

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Komatsu profit up 26% in first 9 months due to increased demand for construction equipment

Despite impact from a low demand for mining equipment, Komatsu saw increases in both sales and profits for the first nine months of its fiscal year. The company reported net sales of $13.6 billion (1.38 trillion yen), up 3 percent over the same period in 2012. Operating income rose 10 percent to $1.6 billion (165.6 billion yen). The company’s fiscal year ends on March 31, 2014. Profit for the company saw a huge increase, up 26.6 percent to $1.1 billion (115.3 billion yen). The company attributes the gains to increased demand for construction equipment in Japan and China as well as other regions. The Construction, Mining and Utility Equipment division saw net sales of $12.2 billion (1.25 trillion yen), an increase of 3.6 percent. The division scored a profit increase of 10.6 percent to $1.6 billion (164.1 billion yen). Despite the increases, Komatsu has not made any changes to the projections for the full fiscal year it made in October. That outlook cut the forecast for profits by 26 percent year-over-year to $1.39 billion (136 billion yen) and decreased the forecast for net sales 9.3 percent to $19 billion (1.86 trillion yen).

- See more at: http://www.equipmentworld.com/komatsu-profit-up-26-in-first-9-months-due-to-increased-demand-for-construction-equipment

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