Auctions, Used Equipment, Rental & Finance

Vicat has announced a debt restructure which extends its average debt maturity and has refinanced a €445million multi-currency revolving credit facility. The restructure is valued in total at €480million and is for a five year period.

Ritchie Bros Auctioneers, the world's largest on-site and online auctioneer of heavy equipment and trucks, is celebrating more than US$1billion (€760million) in online sales in 2011.

New equipment sales have been hit hard by the recession but used machinery sales are growing. Claire Symes talked to Iron Planet's Tom Cornell about the second hand market. Many quarry operators and construction companies have had their capital expenditure cut considerably in the last year but most still need to replace ageing machines to maintain productivity. However, funding new equipment is challenging in terms of both initial cost and getting the finance, which is driving more companies to consider use

Used equipment auctioneer Ritchie Bros is aiming to improve confidence for buyers at its auctions with the announcement of a new range of services for customers in Europe, the US and Canada. The company has now added detailed equipment information, real-time auction results through its website, property and cargo insurance, equipment financing and powertrain service warranties. The more detailed machine information, insurance and financing options and real-time auctions will be available in Europe immediate

Ritchie Bros Auctioneers, the on-site and online industrial auctioneer, reached and exceeded US$5billion (€3.7billion) of online equipment sales in the fourth quarter of 2011.

Danish cement machinery and mining equipment supplier FLSmidth posted a turnover of DKK 14.71billion (€1.98billion) in the first three quarters of 2011, which was an increase of 0.3% on Q1-3 2010.

Construction equipment auctioneer Ritchie Bros has firmed up its commitment to the European market with the opening of a new auction site. More than 1000 people from 39 countries gathered at the new facility in Meppen, Germany for the grand opening and the first auction at the site.

UK-based Euro Auctions has announced that the first auction held at its new Spanish site "exceeded all expectations, proving Spain to be the next logical country" in the company's expansion plans. The company has said that the development of a new permanent site in Valencia is part of its European strategy and will help it to better serve customers in Southern Europe.

Finnish infrastructure company Destia's net sales fell to €198 million in the second quarter of 2011.