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Atlas Copco showcases rig at Illinois conference
Atlas Copco offered a sneak peek of its new PowerROC T35 E surface crawler rig to nearly 500 attendees and guests May 15 at the annual Illinois Aggregate Producers Association Conference. Not yet sold in the United States, the PowerROC T35 E is the extendable boom version of the T35 drilling rig currently in use worldwide. Additionally, Atlas Copco representatives from the Milwaukee customer center presented materials and fielded questions at the company’s booth about products in the surface drilling and excavation line, which includes Powercrushers and rock-drilling tools. Atlas Copco’s Steve Matic says the Powercrusher line is new to the Milwaukee store. Keep Reading
Caterpillar, Westport to develop natural gas-fueled equipment
Westport Innovations Inc. has signed agreements with Caterpillar Inc. to co-develop natural gas technology for off-road equipment, including mining trucks. The companies will combine technologies and expertise, including Westport’s High Pressure Direct Injection technology and Caterpillar’s off-road engine and machine product technology, to develop the natural gas fuel system. Caterpillar will fund the development program. When the products go to market, Westport expects to participate in the supply of key components. “This is a significant opportunity that has the potential to transform important segments of the global off-road equipment industries,” says David Demers, CEO of Westport Innovations. “The substantial price difference between natural gas and diesel fuel is resulting in a strong financial incentive to enable off-road applications to take advantage of low natural gas energy costs without sacrificing operational performance.” Development programs will start immediately for both new and existing engines, combustion technology and fuel systems. Commercial production is expected to begin in about five years. Keep Reading
Superior Industries launches custom design service
Conveyor system and component manufacturer Superior Industries has launched a new design service called Core Systems, supplying tailored power transmission components to provide a complete, custom drive package for each unique application. According to Superior Industries, the single-system provider and tailored approach eliminates hassles by allowing customers to work with a single company for both the machine and components. The design process investigates unique jobsite factors, such as type and weight of material, average daily output, conveyor profile and ideal conveyor speed, to ensure optimum power requirements are met. Also, Superior’s engineering team plans to employ a special analysis with every design that identifies crucial stress points and predicts potential failures. The analysis allows the engineering team to adjust designs accordingly. Keep Reading
ConExpo names chair for 2014 event
Glen Tellock, president and CEO of Manitowoc Co. Inc., has been named chair of the show management committee for the next ConExpo-Con/Agg. Tellock is teaming with Anne Lloyd, the executive vice president of Martin Marietta Materials Inc., who will serve as vice chair. The two are joined by 18 other executives who will collaborate in show planning to ensure the 2014 event meets the industry’s needs. The next ConExpo-Con/Agg will be held March 4-8, 2014 at the Las Vegas Convention Center in Las Vegas. The show is co-located with the International Exposition for Power Transmission. Keep Reading
Commercial building plans down in May
The Dodge Momentum Index, which measures first-reported nonresidential building projects at the planning stage, slipped 1.2 percent from April to May. The index now sits at 93.6. The decrease is the result of a divergent pattern for the two major segments of the index. A 1.5-percent gain for institutional building was outweighed by a 4.0-percent decline for commercial building. The institutional building portion of the index was aided by several large education projects that entered the planning pipeline last month, including a $300 million renovation to New York Public Library’s flagship building. Last month’s Dodge Momentum Index decrease follows a 1.0-percent gain in April, when the index hit its highest level since August 2010. According to McGraw-Hill Construction, the decrease is a result of a still unsettled economic environment and the recent downward revisions to both gross domestic product and employment. The index had been showing a gradual upward trend in recent months after bottoming out at 77.1 in July 2011. The index had risen in all but two months… Keep Reading
Will Martin Marietta ever succeed in taking over Vulcan?
It’s the question that’s had the aggregates industry, as well as the financial analysts and law specialists following Martin Marietta Materials Inc. and Vulcan Materials Co., on hold since the two companies entered friendly merger talks back in 2010. Following Martin Marietta’s lost appeal Thursday, when the Delaware Supreme Court upheld a one-month-old Delaware Court of Chancery ruling that blocked Martin Marietta’s hostile bid and proxy contest for four months, a merger apparently will not be taking place anytime soon. According to The Wall Street Journal, the four-month delay means Martin Marietta will need two more annual meetings – or two years –to gain a majority of directors friendly to its takeover effort elected to Vulcan's board. The board’s terms are staggered. Even before Thursday’s ruling, stock analyst and law specialist doubts were mounting that the court would rule in Martin Marietta’s favor. Now that Martin Marietta has lost on appeal, analysts like Garik Shmois do not expect the company to push forward in its bid to take over Vulcan Materials.… Keep Reading
AEM president optimistic on highway-bill passage
After attending the Transportation Construction Coalition (TCC) fly-in this week in Washington and meeting with members of Congress to urge action on the transportation bill, Association of Equipment Manufacturers (AEM) President Dennis Slater said: "This week in Washington, I had the unique opportunity to join my fellow TCC members and hear from members of Congress and Highway & Transit Conference Committee members about the current state of the highway bill deliberations. After 1,000 days, nine extensions and a rapidly approaching June 30th deadline, I'm pleased to hear that a bipartisan group of members are working in Congress to finally get a long-term highway bill passed." Slater said he is optimistic Congress will be able to reconcile their differences and pass a fully funded transportation bill. Keep Reading
Martin Marietta loses appeal of Vulcan bid ruling
Reuters reports that Martin Marietta Materials Inc. lost its appeal to overturn a court order that halted its $4.5 billion hostile bid and proxy contest for rival Vulcan Materials Co. Delaware's Supreme Court today affirmed a ruling by the state's Court of Chancery, which prevented Martin Marietta from seeking to elect four nominees to Vulcan's board at tomorrow’s meeting of Vulcan shareholders. The lower court halted Martin Marietta's bid and proxy contest for four months as punishment after Martin Marietta breached a confidentiality agreement the two companies signed in 2010, when they engaged in friendly merger talks. Vulcan Materials issued a statement following the decision, saying, “Vulcan's board and management team are committed to enhancing long-term value for all shareholders, and we look forward to continuing to deliver on our growth strategy and cost-savings initiatives." Keep Reading
Mining Hall of Fame has new chairman
The National Mining Hall of Fame and Museum has appointed Paul C. Jones chairman of its board of directors. Jones succeeds Stanley Dempsey, who served as chairman for three years. Jones, a mine industry veteran of 50 years, is a Hall of Fame founder and a life member of the organization. He became a board member in 2007 and, in 2009 and 2010, he chaired the strategic planning committee, which developed a long-range plan for the organization. Jones has also served as chairman of the Hall of Fame’s fundraising committee. Jones’ professional experience includes consulting, technical, management and executive positions in base and precious metals, fuels and industrial minerals in multiple countries. Keep Reading
