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The case for radials
Michelin held a press event in which the tire manufacturer clearly demonstrated the benefits of radial earthmover tires over bias models. Trade press editors, including Pit & Quarry's editor in chief, participated in tire demonstrations at the company's proving grounds in Laurens, S.C. The site is 3,800 acres and includes more than a dozen test tracks. Michelin makes only radial tires, and the company explained that 38 to 40 percent of the market is still bias earthmover tires. Radials, the company said, offer: • Higher speed capability • Heavier load capacity • Better traction • Tire damage resistance • Operator comfort • Better machine handling • Increased tire life • Better machine protection • Improved fuel efficiency Michelin said radial tires offer 30 percent better productivity in loading tests, and a 6 to 11 percent increase in fuel efficiency. Also, radial tires have a longer life by 50 to 100 percent. One demonstration during the event involved editors driving Komatsu wheel loaders over 4x4 boards placed in their path. The… Keep Reading
Looking back, and ahead
Caterpillar Inc. has opened a new 50,000-sq.-ft. visitors center in Peoria, Ill., and the company gave the press a sneak peek. The center is a look back at the company's long and storied history, and a look ahead at the ever-expanding, cutting-edge technology that makes Caterpillar a global giant. The Caterpillar Visitors Center is a beautiful facility inside and out. Upon entering the lobby, visitors are greeted by a time capsule, which will be sealed by Doug Oberhelman, company chairman and CEO. The capsule is scheduled to be opened in 2050 – the 125th anniversary of Caterpillar. The center is a blend of old and new, showcasing pieces of equipment from Caterpillar's early days, as well as impressive new machines. My favorite feature of the facility is the Mining Truck Theatre, a video-presentation room housed in the bed of a reproduction 400-ton-capacity 797F mining truck. The 797F is about the size of a two-and-a-half-story house, and the full-scale reproduction inside the center is a dead ringer for the real thing.… Keep Reading
Vulcan Materials christens new tug boat
Vulcan Materials Co. christened the M/V Hazel Demery, a new tug boat that will be used at the company's Grand Rivers, Ky., facility. The new tug boat is named for Hazel Demery, a nurse and prominent fixture in the Grand Rivers community. Demery was guest of honor at the christening ceremony held at Vulcan's harbor, which is adjacent to the Kentucky Dam & Locks. Beginning in 1951, Demery worked as a nurse for Reed Crushed Stone, which was acquired by Vulcan in 1990. She continued working for Vulcan until retiring in 2009 with 58 years of service. Darren Hicks, Vulcan's director of human resources, southern and Gulf Coast area, said, "Hazel's exemplary life has focused on service to our company, her community, her family and her church. I can think of no person more deserving of this honor than Hazel." Vulcan's Grand Rivers facility includes a large limestone quarry, processing plant and harbor. The company ships large quantities of stone by barge on the Mississippi River and Tennessee-Tombigbee Waterway. Keep Reading
Here we go again
After spending the first half of this year at the top of our news pages, the story of Martin Marietta Materials’ bid for Vulcan Materials had fallen from the spotlight. Well, it’s back. When a judge put a four-month hold on the deal in May, many suggested the takeover attempt was dead. But that’s not case, as a Bloomberg story at press time illustrates. The four-month hold has expired, and two prominent Vulcan Materials shareholders, Bloomberg reports, are calling for Martin Marietta to renew its offer. The news agency says Arthur Barry, a fund manager at Loomis Sayles & Co., claims his firm would welcome a new bid. And Guy Mitchell, a member of one of Vulcan’s founding families, would also favor another try. Mitchell says if he were Martin Marietta, he’d re-launch the tender offer and let the shareholders vote on it. When Delaware Chancery Court Judge Leo Strine made his decision in May, it prevented a June 1 vote by Vulcan shareholders on four Martin Marietta nominees to Vulcan’s… Keep Reading
Every four years
News and commercials on television are filled with Democrats and Republicans touting their candidates, and political conventions have been in the spotlight. It must be time for that once-every-four-years event. Yes, I'm referring to MINExpo International. Though not quite the size of ConExpo-Con/Agg, MINExpo continues to grow (it's 40 percent larger than the last one), and the show now fills the North, Central and South Halls of the Las Vegas Convention Center, as well as outdoor space. Tens of thousands of attendees will walk the show floors, and Pit & Quarry will be there to bring you the highlights. We'll help you sift through it all to find equipment and technology specifically geared to the aggregates industry. In addition to acres of equipment on display – including some of the largest equipment in the world – the event features educational sessions and more. We have extensive pre-show coverage in our upcoming September issue and Must-See Exhibits supplement. We'll also be reporting from the show floor, with a LIVE@MINExpo newsletter going… Keep Reading
U.S. construction equipment exports up 24 percent
Exports of U.S.-made construction equipment grew 24 percent and totaled $13.7 billion for the first half of 2012 compared to January-June 2011, according to the Association of Equipment Manufacturers (AEM). The off-road equipment manufacturing trade group consolidates U.S. Commerce Dept. data with other sources into global trend reports. “Construction machinery manufacturers still look to international markets for business growth, even with increased uncertainty in some regions. With domestic construction still subpar, continued export growth has been critical for U.S. equipment manufacturers to keep their factories operating and American workers employed,” said Al Cervero, AEM vice president. South America took delivery of $2.2 billion worth of American-made construction equipment during the first half of 2012 compared to midyear 2011, for a 6-percent gain, and Central America increased its purchases 16 percent to total $1.1 billion. Construction equipment export volume to Asia grew 4 percent and totaled $1.6 billion. Exports to Europe increased 26 percent for $1.7 billion in construction equipment purchases. Exports to Africa grew 28 percent and totaled $813 million;… Keep Reading
ARTBA’s legal forum to focus on MAP-21
The historic policy reforms, program consolidation and environmental improvements in the new highway and transit law—MAP-21—will result in a myriad of legal and regulatory challenges relating to the delivery of transportation improvements. The American Road & Transportation Builders Association (ARTBA) has a program for transportation design and construction industry professionals wanting to make sure they are prepared to meet them. The association announced its annual Transportation Construction Law and Regulatory Forum, scheduled for Oct. 24-25 in Washington, D.C., will have a special focus on MAP-21. Federal Highway Administration Chief Counsel Fred Wagner is confirmed as the keynote speaker. In its fourth year, the event offers participants the opportunity to learn more about the latest trends in transportation construction law and regulatory requirements, and will also include sessions on environmental compliance, labor law, DBE compliance, insurance coverage, risk management and more. Registration is $495 for past attendees, $595 for ARTBA members, and $795 for non-members. To register or for more information, contact ARTBA’s Sara Jones at 202-289-4434, ext. 211. Keep Reading
Dodge Momentum Index slips
The Dodge Momentum Index retreated 1.4 percent in August compared to July, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The August Momentum Index came in at 96.8 (2000=100), down from July’s revised 98.1. Despite the month’s pullback, the index remains 21.4 percent ahead of its level a year earlier. The recent softening in the U.S. economy may be causing some deceleration in plans for future development. This is particularly true for the commercial component of the index, which dropped 3.5 percent in August. By contrast, the institutional building segment of the Momentum Index inched up 1.0 percent over the month. Both components are well ahead of their year-earlier levels. Keep Reading
The crazy task of reporting quarterly numbers
My wife works at a newspaper, and she was telling me that a young business reporter had written a long story about a local bank's second-quarter earnings -- taking all of the information directly from the bank's earnings report. The newspaper ran the reporter's story in full, despite having access to a wire-service story with professional analysis of the report. She couldn't understand that decision, and I felt her pain. When companies such as Vulcan Materials and Martin Marietta announce their quarterly earnings, we do our best to convey information from the report in an unbiased way. But quarterly reports are written with a high level of spin that would make even a politician envious. The companies do their best to draw your attention to the good news and away from the bad. Perhaps earnings were up from the same quarter the prior year but down from the previous quarter. The company will emphasize only the positive. And even professional business writers interpret the numbers in conflicting ways when putting… Keep Reading
