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470 Maryland Drive • Ft. W PA •19034 215/885-2900 Free 800-523-2200 • Fax 215/885-2910 • www.ConstructionEquipmentGuide.com September 7,ashington, 2016 • Vol. LIV No. 18 ••470 Maryland Drive• •To Ft.llWashington, PA 19034 • 215-885-2900 • Toll Free 800-523-2200 • Fax 215-885-2910
Inside
New York Wheel LLC photo
Ritchie Bros. Acquires IronPlanet, Enters Alliance With Cat
Crews Rehabilitate Albany Airport Runway. ..8
The wheel will include a total of 36 pods, with each equipped to hold 40 people for a 38-minute ride.
Ransome CAT Hosts Sale, Demo Day in Delaware...14
$580M New York Wheel Due to Spin in Early 2018 By Brenda Ruggiero CEG CORRESPONDENT
A new landmark attraction continues to rise on the New York Harbor in St. George, about a three-minute walk from the Staten Island Ferry Terminal. The New York Wheel will be either the tallest or second tallest observation wheel in the world when it opens (depending on when the wheel in Dubai opens). It is expected to attract more than 3.5 million visitors each year. The project began in April 2015, with construction expected to wrap at the end of 2017. The full dollar amount is approximately $580 million, including the wheel, terminal building, parking garage and surround areas. Milestone for LIRR Double Track Pr ojec t.. .30
see WHEEL page 104
Table of Contents ................4
Underground Utility, Trenchers & Trench Boxes Section ..........................75-82 Snow & Ice Section..113-117 Parts Section ............119-120 Auction Section ......124-141
Advertisers Index ............142
percent compounded growth rate in assets sold from 2013 through 2015. This growth momentum has continued, with a 41 percent increase in GMV during the first half of 2016 relative to the same period in 2015. “This transformative transaction is the logical next step for Ritchie Bros., building on our multi-channel platform, global reach and long-standing customer relationships. Together with IronPlanet, we will create a combined company of trusted brands with the ability to provide customers around the world with a greater number of choices and platforms to sell, buy and list equipment when, where and how they want — whether onsite or online. Our commitment to diversifying our offerings is directly in line with customer demand for multiple selling and buying solutions,” said Ravi Saligram, chief executive officer of Ritchie Bros. “This acquisition will help see RITCHIE page 132
Infrastructure Issues Bridge Partisan Divide
Paving Section ..............57-71
Business Calendar ..........130
Ritchie Bros. Auctioneers Incorporated, industrial auctioneers and equipment distributor and IronPlanet, an online marketplace for used heavy equipment and other durable asset sales, jointly announced that they have entered into an agreement under which Ritchie Bros. will acquire IronPlanet for approximately $758.5 million, subject to customary closing adjustments. Founded in 1999, IronPlanet complements Ritchie Bros.’ primarily end-user customer base, as it focuses largely on the needs of corporate accounts, equipment manufacturers, dealers and government entities in equipment disposition solutions. It conducts its sales primarily through onlineonly platforms, with weekly online auctions and in other equipment marketplaces. IronPlanet, a private company based in the United States, sold approximately $787 million of gross merchandise value (GMV) through its sales channels during 2015, and has achieved a 25.2
New York Wheel LLC photo
A new landmark attraction continues to rise on the New York Harbor in St. George, about a three-minute walk from the Staten Island Ferry Terminal.
With 90 days left before Election Day, a national poll released Aug. 9 by the Association of Equipment Manufacturers (AEM) found that half of registered voters say the nation’s infrastructure has gotten worse over the last five years, and a majority of voters
said roads and bridges are in “extreme” need of repair. The findings were part of a new national poll commissioned by AEM to gauge voter perceptions and attitudes about the current and future state of U.S. infrastructure amid a high-prosee INFRASTRUCTURE page 136