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August 2, 2017 • Vol. XXX • No. 16 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215-885-2900 • Toll Free 800-523-2200 • Fax 215-885-2910
Bypass to Ease Traffic Around Popular Zoo The operator of a Cat 349F excavator loading dirt into a Cat articulated truck while a small Cat D6T dozer moves in foreground on a long straight grade.
Bell Trucks Put in Heavy-Duty Hours…8
Celebrating Erie Canal’s Bicentennial…24
By Eric Olson
Anyone who has ever visited the North Carolina Zoo, located in the center of the state south of Asheboro, has experienced the oftenmaddening summertime traffic around the massive park. With more than 700,000 visiting the zoo each year, it is the Tarheel State’s most popular tourist attraction. That means that zoo visitors coming from the east or west, in particular along U.S. Highway 64, must contend with a seemingly endless string of stoplights before reaching Zoo Parkway, a two-lane road that takes them south to the attraction. Located southeast of Asheboro, the open-air North Carolina Zoological Park is the largest walk-through, natural-habitat zoo in the world at more CEG CORRESPONDENT
Paulding County Purchases Bomag…37
Table of Contents............ 4 Paving Section.......... 37-51
than 2,000 acres. It is home to more than 1,600 animals, with most of its 250 species of fauna being native to Africa and North America. The large number of people coming to see those animals has helped spur the commercial growth of Asheboro along U.S. 64, leading to the current traffic problems for residents and visitors alike. Now, in an effort to reduce congestion and improve the traffic flow on U.S. 64, the North Carolina DOT is working with a joint venture made up of two general contractors to design-build the $244 million U.S. 64 Asheboro Bypass. The consortium includes Greensboro’s Thompson-Arthur Paving and Construction (APAC), a division of APAC-Atlantic Inc.; and Wright see ZOO page 74
Backhoes & Attachments Section...................... 53-67
H&E Equipment Acquires Firm for More Than $1B
Parts Section.................. 69
H&E Equipment Services Inc. and Neff Corporation recently announced that they have entered into a definitive merger agreement under which H&E Equipment Services (“H&E”) will acquire Neff Corporation (“Neff”). Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, H&E will pay
Auction Section........ 91-97 Business Calendar........ 96 Advertisers Index.......... 98
$21.07 in cash per share of Neff common stock, for a total enterprise value of approximately $1.2 billion, including approximately $690 million of net debt. The per share merger consideration payable to Neff stockholders is subject to certain downward adjustments, not to exceed $0.44 per share, in the event that H&E incurs certain increased financing costs due to the transaction not being
consummated on or prior to Jan. 14, 2018. The transaction is expected to close in the late third quarter or early fourth quarter of 2017. “This agreement accelerates our stated strategy to expand our footprint across the United States as we seek to penetrate and grow our business in strategic business segments,” John Engquist, H&E’s chief executive officer, said. see H&E page 34