Industry Roundup: Yanmar Sales Up 16% and more
MANUFACTURERS AND SUPPLIERS
Yanmar Sales Up 16% for First Half of 2021 Fiscal Year
Yanmar announced a 16% increase in net sales for the first half of its 2021 fiscal year compared with the same six-month period last year. (Yanmar’s fiscal year runs from April 1 to March 31.)
The manufacturer says sales and profits increased due to sales growth mainly outside Japan and the promotion of company-wide cost structure reforms. Increased orders in the industrial engine business for North America, Europe and China, as well as in the construction machinery and marine businesses for Europe, contributed to the strong performance.
Yanmar plans to overcome supply chain shortages and inflation through ongoing implementation of cost structure reforms, improving operational efficiency through digital tools and expanding the business in overseas markets.
Sany Announces Dealer Finance Partner, Tandem Finance
Sany America is partnering with Tandem Finance to provide financing services to its dealer network. The collaboration will provide dealers with the ability to offer payment options for Sany’s lines of compact, medium and heavy equipment. A dedicated vendor service team has been added at Tandem to support Sany’s needs with underwriting, funding and administering credit transactions.
The founding family’s trust was unable to buy out the minority shares of South African manufacturer Bell Equipment.Bell EquipmentBell Equipment Buyout Fails
A buyout of Bell Equipment by IA Bell, the founding family’s holding company and largest shareholder of Bell Equipment, has failed.
The Bell family trust attempted to purchase all of the minority shares of the Johannesburg Stock Exchange-listed articulated dump truck and tracked carrier manufacturer and then delist the company.
The company and the board did not consider the offer “fair and reasonable.” Corporate leaders and minority shareholders have lauded the announcement as a victory.
DEALERS AND DISTRIBUTORS
Kelly Tractor Becomes Magni Dealer
Magni, a manufacturer of rotating and heavy lift telehandlers, has added Kelly Tractor as a dealer. Based in West Palm Beach, Florida, Kelly Tractor will retail and rent Magni’s product line up, as well as provide parts and service.
Kelly has seven locations throughout southern and central Florida.
Hills Machinery Co. Adds Two Locations in North Carolina
Hills Machinery Co. is adding locations in Mills River and Leland, North Carolina.
With current facilities in Charlotte, Greensboro, Raleigh, Greenville and Asheville, North Carolina, Hills has a goal of establishing each of its locations within approximately 90 miles of the next closest dealership.
The company carries Case Construction Equipment, Mauldin and Rokbak, and recently added Astec paving equipment.
lta Equipment Adding Compact Equipment-Specific Facility in Florida
Alta Equipment is adding a separate store in the Tampa, Florida area to support the needs of its growing compact equipment division.
Located across the street from Alta’s Florida Division main operations, the center will handle all sales, service and parts functions for compact machines. This location will be the model for other compact locations to come, says Alta.
Lines include Volvo, Takeuchi, Toro, Avant and Leguan Lifts.
Greg Downing Named Operations Director for Monroe Tractor
Monroe Tractor has named Greg Downing operations director for its New York and New England locations. The territory includes 15 locations across New York State, Massachusetts, Connecticut, Rhode Island and Vermont, offering Case Construction Equipment, Wirtgen, Screen Machine, Hamm, and Vogele. Downing most recently served as operations director for a New York equipment dealership.