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February 16 2011 Vol. XLIX • No.4
“The Nation’s Best Read Construction Newspaper… Founded 1957.”
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Inside
Form Traveler Assists With Rental Industry Indian River Inlet Project Expects Rebound
in Coming Months
By Brenda Ruggiero CEG CORRESPONDENT Nortrax Opens New Branches in Maine, N.Y. …8
AED Holds Annual Summit, CONDEX…30
Alex Lyon & Son Kicks Off Fla. Auctions…114
Table of Contents ............4 Paving Section ........53-65 Excavators & Attachments Section......................69-91
Progress continues on the Indian River Inlet Bridge in Delaware. The $150 million project is being constructed by Skanska USA Civil Southeast Inc., for the Delaware Department of Transportation (DelDOT). In its second year of construction, the bridge should be complete by the end of 2011. Work on the project began in September 2009, with funds coming from the Federal Highway Administration (80 percent) and the State of Delaware through DelDOT Transportation Trust Funds (20 percent). The project is design-build, which allows for one contractor to design, construct and inspect the bridge structure in one contract rather than multiple contracts. The bridge is a signature stay cable bridge with a total bridge length of 2,600 linear ft. (792.5 m) across the Indian River Inlet in the middle of Delaware Seashore State Park. It will include a 900-ft. (274.3 m) clear span over the inlet, with 1,700 ft. (518.2 m) of bridge decking over the land. All supports will be out of the water, which will eliminate conditions that are currently found with the existing bridge. “The reason for replacing the bridge is the severe scouring that has taken place over the years,” said Dennis O’Shea, assistant director see BRIDGE page 14
Business Calendar ......124 Auction Section ..114-132 Advertisers Index........130
see REBOUND page 96
Caterpillar’s Strong Quarter Profit Hints at Growth By Josh Funk AP BUSINESS WRITER
Parts Section ..............107
The bridge is a signature stay cable bridge with a total bridge length of 2,600 linear ft. (792.5 m) across the Indian River Inlet in the middle of Delaware Seashore State Park.
A large majority of rental store owners and managers — more than 80 percent — expect 2011 to be a much better year than 2010 according to the latest quarterly American Rental Association (ARA) Economic Survey of members. More than 34 percent of ARA general members responding to the survey expect rental revenues to show double-digit increases in 2011 versus 2010 and another 46 percent expect at least single-digit increases this year. The results show a growing optimism for a significant rebound in 2011 as only about half of the respondents said revenues increased in 2010 compared to 2009. Nearly 30 percent of the respondents had revenue declines in 2010, but only 4 percent expect a drop in revenue in 2011. Nearly 70 percent of the respondents also expect to spend more on new rental equipment purchases in 2011 compared to 2010, a significant increase over last year. The spending expectations of general members also match up with the sales forecasts of ARA associate member equipment suppliers as more than 83 percent of the associate member survey respondents expect increased sales into the rental channel, including 52 percent that expect double-digit sales increases.
Heavy equipment maker Caterpillar’s soaring profit reflects strong demand in developing nations and offers reasons for optimism about the global economy and the prospects for other American manufacturers. “They are a pretty good barometer,” analyst Jeff Windau with Edward Jones said of Caterpillar Inc.
That’s because Caterpillar sells its yellowand-black mining and construction equipment around the world and can benefit from growth wherever it’s occurring, while its reach also means the company’s business reflects global economic trends. Caterpillar predicts the world’s economy as a whole will grow at a lukewarm rate of 3.5 percent in 2011, but developing regions will grow at nearly double that pace and continue buying equipment for mining and for upgrad-
ing their infrastructure. Caterpillar, based in Peoria, Ill., said Jan. 27 that its fourth-quarter net income more than quadrupled to $968 million, or $1.47 per share, on $12.8 billion revenue. Those results beat analysts’ expectations and easily topped the $232 million in net income, or 36 cents per share, that it earned a year earlier on $7.9 billion in revenue. Chief Financial Officer Ed Rapp said see GROWTH page 98