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“The Nation’s Best Read Construction Newspaper… Founded 1957.” January 14, 2012 • Vol. VIII • 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
Oftedal’s fleet of excavators work on the digging and rock placement for a shear key used in slide stabilization.
New Expressway Debuts in Oklahoma City By Sean Murphy
Case Donates Skid Steer to Iowa Col lege...16
Komatsu Launches New Articulated Truck...30
ASSOCIATED PRESS
Highway to Yellowstone Gets Needed Makeover By Jennifer Rupp CEG CORRESPONDENT
Since the mid-1960’s, at least two million tourists have visited Yellowstone National Park each year. Many of these sight-seers enter the park from the south, using U.S. 26/287 in Ritchie B ros. Holds Sale in Ft . Worth...36
Table of Contents ................4 Attachment Section ....13-15 Crushing, Screening & Recycling Section ........25-28 Truck & Trailer Section30-31 Auction Section ..........34-37 Business Calendar ............35 Advertisers Index ..............38
Wyoming. In 2006, the Wyoming Department of Transportation (WYDOT) began a 38-mi. (61.2 km) rehabilitation project on this highly trafficked stretch of highway. The project was divided into five segments, with a total of four contracts. Rosie’s Ridge, a 6.6-mi. (10.6 km) section of U.S. 26/287 from see YELLOWSTONE page 10
OKLAHOMA CITY (AP) Traffic began to flow Jan. 5 on the new Interstate 40 crosstown expressway in Oklahoma City, a roughly $680 million road project that is the most expensive in the state’s history. A caravan of antique cars and tractor-trailers from Oklahoma-based businesses christened the 4 mi. (6.4 km), 10-lane section of highway south of downtown that connects the three major interstates that run through the state — Interstates 35, 40 and 44. “This is fantastic news for Oklahoma and for the nation as we complete work on the corridor connecting the east and west coasts,” said Gov. Mary Fallin. “Completing the I-40 crosstown gives our infrastructure a big upgrade and helps to support a positive see OPENING page 18
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 completed, 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 companies to deliver superior customer benefits and enhanced value for our stockholders. With the best talent in the industry, we have a tremendous opportunity to become the supplier of choice for customers throughout North America.” Erik Olsson, RSC’s chief executive officer and president, said, “RSC has a strong track record of profitable growth and we are proud of see DEAL page 12