Published Nationally ®
Southeast Edition $3.00
“The Nation’s Best Read Construction Newspaper… Founded 1957.” January 11, 2012 • Vol. XXV • No. 1 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215-885-2900 • Toll Free 800-523-2200 • Fax 215-885-2910 • www.constructionequipmentguide.com
Inside
Mobile telescoping Grove crane begins panel work; concrete slab already in place below.
Feds Release $511 Million for 46 Projects
es put on the building before it is outfitted with everything from kayaks, fishing line and badminton rackets to cameras, golf GPS equipment or range finders and radar detectors for area customers; it will even have an in-store baseball batting cage for anyone wanting to give it a try. More stores are planned for the Charlotte area, attesting to the fact that this
U.S. Transportation Secretary Ray LaHood announced that 46 transportation projects in 33 states and Puerto Rico will receive a total of $511 million from the third round of the U.S. Department of Transportation’s popular TIGER program. The announcement comes months ahead of schedule and will allow communities to move forward with critical, job-creating infrastructure projects including road and bridge improvements; transit upgrades; freight, port and rail expansions; and new options for bicyclists and pedestrians. The Department of Transportation (DOT) received 848 project applications from all 50 states, Puerto Rico and Washington, D.C., requesting a total of $14.29 billion, far exceeding the $511 million made available for grants under the TIGER III program. “The overwhelming demand for these grants clearly shows that communities across the country can’t afford to wait any longer for Congress to put Americans to work building the transportation projects that are critical to
see ACADEMY page 14
see PROJECTS page 20
Flagler Hosts Equipment Show in Tampa…8
Charlotte Firm Adds Four Hybrids to Fleet…29
Rock Hill, S.C., Welcomes New Sporting Goods Store to Town By Peter Hildebrandt CEG CORRESPONDENT
More Th an 1,90 0 Take Par t in Ri tchie S ale…39
Table of Contents ........4 Truck & Trailer ....22-23 Attachment Section ...... ............................25-27 Recycling Section 29-37 Auction Section ....52-59 Advertisers Index ......58
Academy Sports & Outdoors, a fast growing sporting goods store, has worked hard and fast to get on the map, at this point the map of the southeastern United States. This Houstonbased chain now has another store up in Rock Hill, S.C. It is ready to have the finishing touch-
United Rentals to Acquire RSC in $4.2B Deal United Rentals Inc. and RSC Holdings Inc. entered into a definitive merger agreement under which United Rentals will acquire RSC in a cash-and-stock transaction valued at $4.2 billion, including $2.3 billion of net debt. Both boards of directors unanimously approved the proposed transaction and recommended that their respective stockholders also approve it. The transaction will be financed with 60 percent cash and 40 percent stock. Each outstanding share of RSC common stock will be converted into the right to receive $10.80 in cash and 0.2783 of United Rentals share. United will issue new debt and draw on current loan facilities to finance the cash portion. Once complet-
ed, the company will be 70 percent owned by United Rentals shareholders. United estimates synergies from combining the companies of more than $200 million annually, which they expect to realize within the first two years. Combining the companies will create a leading North American equipment rental company with a more attractive business mix, greater scale and enhanced growth prospects. The combination also is expected to accelerate United Rentals’ growth with industrial customers as well as provide a lower cost base and a less volatile revenue profile to better position the company through all phases of the business
cycle. The new United Rentals is well-positioned to benefit from increased rental penetration, the continued strength of the industrial sector, serving customers across a variety of industries and a recovery in construction activity, according to the companies. Michael Kneeland, president and chief executive officer of United Rentals said, “This transaction marks a transformative moment in our company’s history. Combining the experience and resources of two top performing equipment rental companies creates an exceptional company. The new United Rentals will build upon the best practices and management teams from both see DEAL page 18