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Champion Road Machinery Sells Two Divisions
Cambridge, Ontario, Canada-based Champion Road Machinery, a subsidiary of
Volvo Construction Equipment, has reached an agreement to sell its SuperPac
Compaction and Pro-Pav Paving divisions. SuperPac was bought by a consortium of managers and employees who are
undertaking a leveraged buyout of the division's assets. The company, which
was announced for sale in August 1998, was officially acquired by its
employees as of March 27, and has been renamed SuperPac Acquisitions. Asphalt paving equipment manufacturer Pro-Pav was purchased by
Georgia-based Neal Paving, also a small asphalt paver manufacturer. The
deal was expected to close by the end of last month. Sales of both businesses, with a total of 115 employees, combined
approximated $22 million (US). Deere to Distribute Bell DumpTrucks
Deere & Co. recently announced an agreement with South African dump truck
manufacturer Bell Equipment to distribute Bell-manufactured articulated
dump trucks in the Americas. Deere will sell and service the trucks, which are primarily used in
off-highway construction and mining applications. The trucks will carry the
John Deere brand. The boards of both companies have approved the transaction subject to final
due diligence, according to Moline, Ill.-based Deere. Shareholders of
Richards Bay-based Bell will meet this month to give final approval to the
deal, Deere said. Ingersoll-Rand to Buy Harrow Industries
Ingersoll-Rand has signed a letter of intent to acquire Grand Rapids,
Mich.-based Harrow Industries for about $160 million, including the
assumption of Harrow debt. Harrow manufactures access controls technologies
and architectural hardware. The company will be integrated into Ingersoll-Rand's Woodcliff Lake,
N.J.-based architectural hardware group. Concrete Beginnings
With a team of concrete pumping veterans, 25 masons and laborers, and two
Putzmeister concrete boom pumps, Forsa Construction completed two 13-story
Hoboken, N.J., apartment buildings - one of 20,000 square feet and the
other of 15,000 square feet - and a 42,000-square-foot parking garage
between the buildings in less than three months. The crew was able to pour
a new floor every two days by pouring as much as 100 cubic yards of
concrete an hour. Workhorse Chassis Moves Into New Manufacturing Plant
Workhorse Custom Chassis recently moved into a new 200,000-square-foot
facility in Highland Park, Ill., to accommodate the manufacturing of the
General Motors Class A motor home and commercial chassis business, which it
purchased in January 1999. Workhorse COO Bob Atkins, a 32-year GM veteran, is leading the chassis
production effort. The previous GM plant and systems in Detroit were not designed to build a
niche product like chassis, according to Atkins. "[It] was six stories and
we were hemmed in by columns everywhere and all these tight corners on the
assembly line," he says. "Here we are able to set it up right, from day
one. We've got the chance to do all the things we knew we should be doing
but couldn't do in Detroit." New Holland, Harbin to Co-Manufacture Tractors
New Holland has signed a joint-venture contract to manufacture agricultural
tractors with Harbin Machinery Plant of China. New Holland will own about
70 percent of the company, which will be called Harbin New Holland
Beidahuang Tractors. The contract is subject to approval by the Heilongiang
Provincial Administration of Foreign Investment, according to New Holland,
which is based in Amsterdam, The Netherlands. EMI Develops Forklift Operator Training Program
In response to OSHA's new forklift operator training regulation that went
into effect March 1, 1999, the Rough Terrain Forklifts Council of the
Equipment Manufacturers Institute, Chicago, has developed an operator
training program to assist equipment owners who must comply with the
mandate. The program, whose release is anticipated mid-year 1999, will incorporate
existing industry safety and educational materials, including the EMI Rough
Terrain Forklift Safety Manual for Operators and Mechanics and EMI safety
videos for straight-mast and telescopic forklifts. McCanse Engineering Sold
McCanse Engineering was recently acquired by Scott Fore, a former
Safety-Kleen Corp. executive. It will still operate under the name McCanse
as a limited liability company and continue to manufacture and sell the
Heftee line of hydraulic service lifts in its Oregon, Ill., facility. Melroe Co., Fargo, N.D., a wholly owned unit of Ingersoll-Rand, will invest
$18 million to expand its two North Dakota manufacturing facilities in
Gwinner and Bismarck. Mayville Engineering has relocated its aerial work platform division from
Mayville, Wis., to a new 163,000-square-foot facility in Beaver Dam, Wis.
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