News

In a major move in the global plant and machinery auctions sector, off-highway equipment auctioneer Ritchie Bros. has entered into an agreement to acquire Euro Auctions group for an enterprise value of £775mn (US$1.08bn).

Arcosa has acquired Arizona-based Southwest Rock Products for $150 million in a bid to reduce its cyclicality and enter new geographies.

Rolls-Royce’s Power Systems business unit – which makes mtu-branded diesel engines used in a wide variety of construction, mining and quarrying machinery – has reported a strong half-year 2021, including an €11m boost in profit to €47m.

Order intake is also up 19% on the same period last year, notes the company which is headquartered in Friedrichshafen, southern Germany, and employs around 9,000 people.

“Our financial results are in line with our expectations,” said Louise Öfverström, chief financial officer of Rolls-Royce Power Systems.

Aggregates washing solutions company MWS Equipment has appointed DGM as the official distributor of its washing equipment in Denmark.

Focused on providing complete project management services, DGM specialises in the supply of equipment, complete plants and services for the aggregate, construction, mineral processing, and concrete and asphalt industry. It became part of the German Lutze Group in 2020. Lutze Group has been established in Denmark since 2019, and is represented in six countries.

Superior Industries has expanded a partnership in which General Equipment & Supplies will represent its full line of equipment in Minnesota and North Dakota.

Building materials company CEMEX has signed two global initiatives to achieve carbon neutrality - the Business Ambition for 1.5°C commitment and the Race to Zero Campaign.

Sibelco has transferred nearly half the land at its Heerlen quarry to Netherlands nature conservation organisation Natuurmonumenten.

The global construction aggregates market is predicted to expand by 6.8% over the next decade, driven by increasing urbanisation and rapid construction sector expansion in emerging nations.

Concrete and asphalt plant manufacturer Lintec & Linnhoff has appointed Lebanon-based equipment dealer Jallad Group as a distributor for the Lebanon, Jordan and Palestine markets.

Off-road engine manufacturer Cummins made revenues of US$6.1bn in the second quarter of 2021, up by 59% from the same quarter last year.