#GLAD2023 Scheduled for July 13th
The fourth Global Lifting Awareness Day—#GLAD2023—will take place on Thursday. July 13th. Powered by the Lifting Equipment Engineers Association (LEEA) and supporting organizations, it is now a widely celebrated day where manufacturers, suppliers, and end users are among those sharing materials that promote safe and high-quality load lifting. Social media posts, videos, articles, and in-person activity will again be bound together by the hashtag, #GLAD2023. Industry stakeholders are also invited to share their content so LEEA can add it to the newly updated website—www.globalliftingawarenessday.com—where information about apprenticeships, military recruitment, diversity, sustainability, and technology has been posted during previous years. While the key message remains the same, LEEA has updated the logo, which will be used as another point of identity before, during, and after the event. Anyone with an interest in lifting and working at height can contribute by using the graphic and hashtag to celebrate their involvement with the industry and promote it as an interesting place to work, especially for younger generations. Ross Moloney, CEO at LEEA, said: “There’s an energy building behind plans for this year’s Global Lifting Awareness Day that suggest it will be the most widely supported and impactful ever. The concept has successfully spanned the Covid era, reiterating the fact that lifting remains both ubiquitous and essential in keeping all kinds of operations going, irrespective of pandemics and economic conditions.” He added: “Fighting gravity is inherently dangerous and getting it wrong can lead to accident, injury, and even fatality. That makes it an extremely important, challenging, and rewarding sector to work in, which is just one of the messages we’re encouraging people to promote.” Celebrate the lifting industry on Thursday 13 July—include the #GLAD2023 hashtag.
ALL Crane becomes authorized dealer for Maeda
The ALL Family of Companies is once again an authorized dealer for Maeda mini cranes. ALL is also adding 13 Maeda spider cranes to its own fleet. ALL’s exclusive territory for Maeda sales covers the states of Ohio, Indiana, Illinois, and Wisconsin. ALL will sell and service Maeda’s full line including spider cranes, crawlers, and battery cranes. Widely considered the smallest crane in the world, Maeda cranes can go where other cranes simply can’t. With a width as little as two and a half feet, many can actually fit through standard doorways. The construction industry is especially fond of these small cranes for their ability to be placed high up in a structure and assist with glazing and curtainwall installation. Josh Doyle, general manager of ALT Sales Corp., the boom truck division of the ALL Family, expects construction to remain a popular market for Maeda via ALL, with other applications emerging. “The advent of Maeda battery-powered cranes opens a whole new world of indoor crane operations due to the lack of exhaust emissions,” said Doyle. “I expect those cranes to pick up work inside warehouses and for interior remodeling jobs in industrial and commercial settings.” Maeda models added to ALL’s own fleet include three MC285C spider cranes with a slim 30-inch body, 24-foot boom, and 6,210-pound maximum capacity; seven MC305C models with a 41-foot boom and max capacity of 6,560 pounds; and three MC405C spider cranes with a 55-foot boom and a max capacity of 8,480-pounds. All include multi-angle outrigger positions and rubber tracks. “The multi-angle outriggers are a game-changer. They take cranes that already could move in close due to their small size and get them that much closer to the work,” said Doyle. The Maeda spider cranes added to ALL’s own fleet are being deployed throughout the four states in which ALL is an authorized dealer, so customers unfamiliar with the product can see their performance for themselves. Japanese-made Maeda originally carved out a niche for itself with its small, versatile spider cranes. It has made a push into the U.S. market with the formation of Maeda America Inc., headquartered in Houston, Texas.
JLG offers new Bi-Energy option on popular compact Crawler Boom Lift models
Emissions-free lithium-ion battery with a dependable diesel engine to work anywhere JLG Industries, Inc., an Oshkosh Corporation company and a global manufacturer of mobile elevating work platforms (MEWPs) and telehandlers, now offers Bi-Energy technology on its X770AJ and X1000AJ compact crawler boom lifts, reducing these machines’ noise and exhaust emissions. The innovative system equips these JLG® machines with two (2) full-sized, independent power sources, combining an emissions-free lithium-ion battery pack with a dependable diesel engine to allow operators to work indoors and outside with one machine. “The Bi-Energy system is designed to maintain the high performance and efficiency our customers expect from the X770AJ and X1000AJ, while minimizing their carbon footprint and decibel levels,” says Angela Patterson, JLG Boom Lift Product Management Specialist. “With this option, operators can choose the best power source for the application (either the engine or the lithium-ion batteries). This dual power source design means that JLG Bi-Energy models can be used in a wide variety of settings — from general greenfield construction projects to environmentally sensitive job sites.” As an example of how machine operators would utilize this technology, Patterson says, “Using the engine’s power, users can drive the machine to where the overhead work needs to be done, and they can switch to zero-emissions, all-electric battery power to work at height for the remainder of the shift. When the work is done, the users can power the engine back up and drive the machine for use at another location.” The X770AJ comes with a 100Ah 76V lithium-ion battery pack, while the X1000AJ has a 150Ah 76V lithium-ion battery pack; the lithium-ion batteries can be charged from an outlet at any time, including while the machine is in use. Both machines have a Kubota D902 21.6-hp at 3,200 rpm diesel engine. These models also boast commonality with other JLG compact crawler boom lift models, increasing operators’ familiarity and confidence when using these machines. “Both new Bi-Energy models use the same console box layout as the rest of our compact crawler boom lift line, simply adding two new buttons to switch between the independent power sources,” says Patterson. With these features, Patterson says that JLG’s Bi-Energy X770AJ and X1000AJ compact crawler boom lift models are ideally suited for use in cold weather applications and are also useful in airport and aviation, building construction and restoration, cleaning, data centers, electrical, facility and grounds maintenance, HVAC, industrial and petrochemical facilities, plumbing, and warehouse applications. “The Bi-Energy option offers equipment owners and operators more flexibility and versatility than ever before to use these popular compact crawler boom lifts,” concludes Patterson. The new Bi-Energy option will be available on additional JLG compact crawler boom lifts in the future.
GM Equipment Rentals acquires Magnum Equipment
GM Equipment Rentals, an aerial and material handling company based in North Central Pennsylvania, has completed its acquisition of Magnum Equipment LLC., located in Hudsonville, Mich., near Grand Rapids. This acquisition now extends GM Equipment’s coverage area across Pennsylvania, New York, Ohio, West Virginia, Maryland, and Michigan. GM Equipment Rentals is a family-owned company. It offers a large array of aerial and material handling equipment, along with a line of dirt and support equipment. Customer service, prompt deliveries, and quick turnaround times are themes GM Equipment hangs its hat on. Its common saying is “We are a service company first, that happens to rent and repair equipment.” The GM Equipment Rentals team also strives to create a great working environment for its employees by offering excellent pay and benefits packages. As part of GM Equipment’s ongoing growth strategy, the addition of Magnum Equipment extends its service area, customer base, and infrastructure. The acquisition also aligns with its heavy arsenal of MEWP and material-handling equipment. The Michigan customer base will now be able to enjoy a variety of added benefits that GM Equipment Rentals has to offer, including the ability to quickly view their account information and on-rent reports through GM Equipment’s online portal. Z Rental Consulting represented Magnum Equipment in the transaction.
How VRCs are giving dealerships and its vehicles a lift
VRCs help maximize existing space, while also costing less than dealership expansion It’s no surprise that constructing a new dealership is an expensive endeavor. From purchasing the land, material prices, equipment expenses, architectural fees, labor to get the build completed, and planning for any cost overruns that may occur, that dealership comes with a hefty sticker price before the door is open for business. However, one area of design that does offer tangible cost savings is selecting a material lift instead of an elevator. More new dealerships are opting for this route, as a material lift, otherwise known as a vertical reciprocating conveyor (VRC) can take as much as 75% less to install versus a personnel elevator. For dealerships with a second or third floor, a VRC is a must to vehicles and parts. The VRC Value Transporting vehicles, not to mention bulky parts, back and forth to elevated levels can be a time-consuming task, not to mention a cumbersome safety hazard for employees that could lead to injury and costly worker’s compensation claims. That’s where VRCs prove their worth. VRCs are a cost-effective, safe, and easy way to move vehicles and parts from one level to another. When it comes to parts, they are safer than using manpower or a forklift, and less costly to operate and maintain than elevators. In fact, the total cost of VRC ownership can be up to three times less than an elevator and can be installed in a fraction of the time. VRC Installation Recently, Custom Industrial Products (CIP) completed another successful VRC installation at a Florida-based luxury automotive dealership that opened in 2022. One of the first steps to engineering the right VRC for the job is communicating with the architectural firm and general contractor to understand the overall scope of the application. This involves learning the weights and dimensions of vehicles that will be moved, the available space for the VRC, and other related information. For this application, the VRC was an FP Series, Four-Post Lift that had a dual purpose: carrying vehicles up to the third floor for display, while also moving parts such as bumpers, tires, engines, pallets, and other items to the second-floor storage area. The FP Series is designed for moving larger, heavier loads up to 30,000 pounds, enabling it to easily carry a vehicle. This VRC comes with a carriage size of up to 30’ x 30’ and a travel height of up to 60’. The Case for VRCs When it comes to the expansion of existing dealerships, it’s becoming more commonplace for businesses to look up rather than out. The reason is simple: cost. A general rule is that it’s always going to be more expensive to expand the footprint of an existing facility. Even if you own the land, expansion means architectural costs, expenses related to pouring slabs of concrete, building materials, a longer timeframe to complete the expansion, along with numerous other costs. For many dealerships, newfound space can be created through a VRC and mezzanine. Often, these two items can be designed and installed in a matter of weeks at a fraction of the cost of new construction. They are engineered to meet industry standards for local, state, and national building codes, and are custom-built to a customer’s exact specifications for optimal performance and functionality. Moving items with a VRC is much more efficient and safer than having employees carry parts upstairs or using a forklift to hoist pallets to a second floor. Forklifts require a certified driver, at least one spotter during use, and another person on the second floor to lift the gate and receive the pallet. VRCs are more economical to operate and demonstrate a strong ROI in short order. When vehicles need a lift or space becomes an issue, remember, don’t look out for answers – look up.
JLG and Oshkosh Corporation receive Industry Recognition in 2022
Combined, the companies accumulated 16 awards and honors this past year JLG Industries, Inc., an Oshkosh Corporation company and a global manufacturer of mobile elevating work platforms (MEWPs) and telehandlers, received 12 industry awards in 2022, highlighting the company’s most recent innovative product introductions and JLG® equipment with high long-term resale value. RER magazine honored JLG with two Innovative Product Awards. A Technology Enhancements award for the company’s suite of telehandler accessory offerings and a Miscellaneous award for JLG’s “Access Your World” virtual experience. EC&M magazine named the JLG DaVinci® AE1932 all-electric scissor lift its Product of the Year in the Construction Equipment Category. The Construction Machinery ME Awards also awarded the DaVinci lift as its Electric Machinery of the Year. JLG won two International Awards for Powered Access (IAPA) this past year. The DaVinci lift was again distinguished as the Product of the Year, as was the company’s 670SJ self-leveling boom lift. The 2022 Leadership in Lifting Equipment and Aerial Platforms (LLEAP) Awards also recognized JLG’s 670SJ self-leveling boom lift, giving it a Gold Award — the highest honor. JLG’s DaVinciGo App received a Silver LLEAP Award. The JLG Next-Gen Augmented Reality App received a 2022 Rental Editor’s Choice Award, and the company’s new line of Rotating Telehandlers was named a Construction Equipment Top 100 Winner, as well as a 2022 Top Introduction by Heavy Equipment Guide. And last, but not least, EquipmentWatch’s annual Highest Retained Value Awards this year included the JLG H340AJ hybrid boom lift and FT70 Liftpod model. JLG’s parent company, Oshkosh Corporation, received four industry awards in 2022. The company was recently named one of America’s Most Responsible Companies by Newsweek, the fourth consecutive year it has been awarded this honor. In addition to Newsweek’s recognition, Oshkosh was named one of Fortune’s 2022 World’s Most Admired Companies, a Leading Disability Employer 2022 by the National Organization on Disability, and one of the World’s Most Ethical Companies by Ethisphere™ for seven consecutive years.
The Crosby Group raises $50,000 to support educational opportunities for US military children
The Crosby Group, a manufacturer of rigging, lifting, and material handling hardware and equipment, has concluded its 2022 Rigging for the Troops campaign supporting the Children of Fallen Patriots Foundation. Through the combined support of its loyal channel partners, end users, and employees throughout the United States, Crosby once again surpassed its original fundraising goal of $25,000 and raised a total of $50,000 for the Fallen Patriots. Fallen Patriots provide college scholarships and educational counseling to military children who have lost a parent in the line of duty. After government programs, the average shortfall in college funding is $25,000 for an individual student. This is the third year Crosby and its partners have come together to support the Fallen Patriots. In total, $125,000 has been raised to date for this worthy cause. From September 1 through October 31, The Crosby Group committed to donating $500 for every Crosby and ACCO in-person training event it hosted in the US. In addition, proceeds from the popular User’s Guide for Lifting online training course during this time went toward the goal. Crosby’s channel partners and end users also contributed by sponsoring the campaign by way of direct donations to Fallen Patriots. This year’s sponsors are Bishop Lifting Products, Inc.; Central States Crane & Hoist; CERTEX USA; Core Lifting Products; Crane Training & Safety Consultants; Dakota Riggers; Fluor Corporation; Fulcrum Lifting; Global Rigging & Synthetics; Hanes Supply, Inc.; Heco Slings; Holloway Houston, Inc.; Industrial Training International; International Union of Operating Engineers; Industrial Scale Company; John Sakach Co.; Mazzella Companies; Metro Wire Rope Corporation; Peak Trading Corporation; The Carpenter Group; US Cargo Control; West Coast Wire Rope & Rigging, Inc.; and media sponsors Crane Hot Line and Lift & Access. Robert Desel, CEO of The Crosby Group, said: “We sincerely appreciate our channel partners, end users, and employees who, once again, made this year’s campaign a tremendous success. We are honored to make this donation to further support the Foundation’s important mission and help meet the educational needs of Gold Star children.” Cynthia Kim, Co-Founder and Co-Chief of Staff of the Children of Fallen Patriots Foundation said: “Fallen Patriots is truly honored to partner with The Crosby Group. Not every patriot wears the uniform, and it’s patriots like Crosby who make our mission possible. Your generosity sends a message to the children left behind, that they are not forgotten, and their fellow Americans honor the service and sacrifice of their parents. Thank you for ensuring these children have the bright future their parents would have wanted for them. You’re giving them hope and resilience.” Approximately 25,000 children have lost an active-duty parent in the military over the last 35 years. Of those, 97% of casualties are men, leaving behind single mothers to care for their families, and 60% report having trouble making ends meet. The foundation said that $625 million is needed nationwide to cover the gap between government assistance and the actual cost of a degree. Since 2002, Fallen Patriots has provided more than $ 61 million in total assistance to more than 2,700 military children with more than 900 graduates. The Crosby Group has trained more than 500,000 rigging professionals since launching its training program in 1991. With a US manufacturing footprint that includes plants in Texas, Oklahoma, Arkansas, South Dakota, Pennsylvania, and Alabama, The Crosby Group’s involvement with the country’s military stretches back to its earliest days, supplying shackles and other hardware for military equipment. Today, more than 40 US Veterans work in the company’s facilities designing, manufacturing, and distributing the best rigging hardware and material handling equipment in the world.
Stacey Babson Kaplan named Senior Vice President: Chief Sustainability and Compliance Officer
Terex Corporation has announced that Stacey Babson Kaplan has been promoted to Senior Vice President, Chief Sustainability and Compliance Officer of Terex Corporation, effective immediately. With this expansion of duties, she will add Sustainability to her longstanding role heading Ethics & Compliance for the Company. She serves on the Terex Executive Leadership Team and the Environmental, Social, and Governance Executive Steering Committee, reporting to John L. Garrison, Jr., Chairman, President and Chief Executive Officer. “Stacey’s new assignment acknowledges her significant and growing role in overseeing Terex’s initiatives in ESG,” Mr. Garrison said. “Terex has long been highly active in ESG activities, and Stacey is helping us take this commitment to an even higher level.” Ms. Babson Kaplan joined Terex in 2002 as Corporate Counsel, Human Resources Compliance. In 2005, she was appointed Vice President, Deputy General Counsel, Employment & Global Diversity. She was named Vice President, Chief Ethics & Compliance Officer in 2008. She holds a Juris Doctor degree, cum laude, from Benjamin N. Cardozo School of Law and a Bachelor of Science degree from The Ohio State University.
AWRF names Caldwell’s Ferchen to Board
Associated Wire Rope Fabricators (AWRF) has named The Caldwell Group Inc.’s Director of Business Development Jeff Ferchen to the board of directors. It represents a return to the AWRF board for Ferchen, who previously served from 2015 to 2017. AWRF serves the lifting, rigging, and load securement industry by advancing interests common among its member companies. The association helps create and share technical information, promotes safety standards, and helps develop product identification procedures. Ferchen will serve on the New Member Committee. Ferchen, who joined Rockford, Illinois-based Caldwell, last year, said: “I am proud to represent both Caldwell and the wire rope, rigging, and lifting industries in this new, yet familiar, role. The good work performed of our board and the active participation of our membership make the industry stronger.” He continued: “AWRF is where all the industry experts work to get technical information and help drive overhead lifting standards.” Ferchen delivers a wealth of experience to the board, having spent more than two decades in the rigging industry at several large manufacturing companies and channel partners positioned closer to the point of use. Ferchen is a regular at AWRF’s 18-monthly Product Information Exhibition (PIE) and has worked with various committees during his career. Ferchen and other new board members attended AWRF’s Fall Meeting in Philadelphia, Pennsylvania, in October, and will next meet in Scottsdale, Arizona, in January 2023 for their first official board meeting.
Caldwell unveils new distributor portal
The Caldwell Group Inc. has unveiled a new online tool, where channel partners can access pricing and availability information online. The new Fast Find tool gives customers instant, online access to distributor pricing and product availability and is part of the company’s online Distributor Portal. Lisa Sympson, marketing manager at Caldwell, said: “Our customers asked, and we listened. They wanted a fast and easy way to get pricing and availability so they can prepare quotes for their customers more quickly and serve them even more efficiently. And now they’ve got it. No more phone calls. No more waiting on hold. No more delays.” To stay ahead in today’s ever-changing marketplace, manufacturers must quickly evolve to meet and exceed growing customer expectations, which means constantly improving online tools. As a manufacturer of below-the-hook lifting equipment, Caldwell has chosen to apply a continuous improvement mindset to all aspects of the business, from manufacturing to engineering, and through customer service and the overall online experience. “The thing about these dealers,” Sympson continued, “Is that they get all kinds of inquiries every day from those various end-user markets. We need to provide the support, online and otherwise, that helps them serve their customers in the best way possible. The breadth of knowledge that these partners need is vast. They’re offshore one minute, up a tower crane the next, and finish the day at an industrial site doing a chain sling inspection.” Caldwell distributors can follow three simple steps to get access today: Call 800.628.4263 or email info@caldwellinc.com to request access. Caldwell completes registration and sends an email with log-in credentials. Customer clicks on the Fast Find link.
Hoist & Winch elevates success of large construction project
Hoist & Winch Ltd has recently completed a challenging project for one of the UK’s biggest construction companies involved in large-scale new home development projects. Faced with a demanding and highly technical brief, Hoist & Winch rose to the task, of providing a turnkey lifting system solution to ensure complete success for its client. The requirement was to install a concrete ceiling-mounted 7.5t swl (safe working load) lifting beam and manual chain hoist into the basement energy room of a large new tower block. This development is part of a large-scale prestigious regeneration project providing 5500 sustainable new homes in North London. At the design stage, following the formal tender and contract award, Hoist & Winch set about identifying the optimal solution. Due to restricted access to the basement area, the company decided to utilize a two-piece lifting beam design with an overall length of 7m. To join the two lifting beam sections, Hoist & Winch designed a central splice joint of bolted construction with a reinforced bottom beam flange. In order to spread the lifting loads over a greater area of the concrete ceiling slab it was decided to mount the lifting beam via four intermediate cross members, each having a four-bolt/anchor fixed into the concrete ceiling at both ends. Featuring a robust bolted construction design it was possible to deliver the lifting beam to the site in a fully dismantled form for ease of transportation and access. M24 resin anchors with an embedment of 255 mm into the 400 mm deep reinforced concrete slab fixed the intermediate cross members directly to the ceiling for maximum security. For approval by engineers at the main contractor, Hoist & Winch submitted design drawings and calculations for the structural design of the lifting beam and loading of the resin-type ceiling anchors. With the design approved, Hoist & Winch could progress to manufacturing, followed by delivery to the site. Using building column positions as datum points, the installation line of the lifting beam was marked out while working from scissor lifts and an aluminum scaffold tower located on the upper mezzanine floor. A surveyor’s laser line initially identified the correct lifting beam position, prior to overlaying with red chalk to ensure accuracy for the duration of the installation work. Raising the two lifting beam sections into position required the installation of eight 1t swl hand chain blocks, with each one suspended from M16 swivel eye bolts supported from flush-mounted anchored resin inserts drilled into the concrete ceiling slab. Following sample pull load testing, Hoist & Winch raised each lifting beam section into position using four 1t swl hand chain blocks. To raise the lifting beams to the full height and clamp them hard against the concrete ceiling slab ready for drilling, the company used two special lifting rigs per beam section. The first lifting beam section maneuvered into position also included the 7.5t swl hand chain block, which was rolled onto the lifting beam at a low level using a 1t swl hand chain block temporarily suspended from local steelwork. Once both lifting beams were in position, Hoist & Winch joined the two lifting beam sections using the aforementioned bolted splice plate. Next, the company undertook ceiling slab drilling operations and resin anchor installation for all 32 ceiling anchor points after very carefully cleaning each hole with a special heavy-duty internal brush and suction pump. Following the specified resin curing time, Hoist & Winch could tighten each anchor bolt to the required torque levels. The final installation and test operation were the LOLER (Lifting Operations and Lifting Equipment Regulations) inspection of the lifting beam and manual chain hoist unit. This activity included dynamic load testing of the entire runway beam length with a 7.5t skid-mounted test load followed by a 125% static proof load test in accordance with BS 2853 2011. “Working as a subcontractor for the company supplying and installing the plant and services in the basement energy room, we delivered an entire turnkey lifting system solution,” states Andy Allen, Director of Hoist & Winch Ltd. “At completion, we provided the client with an overall project records and documentation package, before clearing all site equipment and undertaking customer handover. This project is just one of many exemplifying the meticulous, competent, and professional approach that Hoist & Winch customers can expect from our highly knowledgeable team.”
US Service Group acquires assets and operations of Dalton Rigging and Transport
US Service Group LLC, a New York-based industrial services company, has acquired the assets and operations of Dalton Rigging and Transport, West Hartford, Conn. US Service Group LLC, a New York-based industrial services company, has acquired the assets and operations of Dalton Rigging and Transport, West Hartford, Conn. Dalton Rigging provides a broad range of rigging and transportation services to customers throughout Connecticut and Massachusetts. Kevin Dalton, president of Dalton Rigging, will be joining USSG along with the balance of Dalton Rigging employees. Combined with Walker Crane & Rigging Corp., based in Plainville, Conn., which USSG acquired earlier this year, USSG has established itself as the premier rigging and transportation operation in Connecticut, the company said. With the acquisition of Dalton Rigging, USSG continues its strategy of building an industry-leading national rigging, machinery moving, logistics, and warehousing business. Along with Able Rigging Contractors, Walker, and Transcope Services, USSG now consists of three separate operating businesses focused on providing rigging and machinery moving services to a diverse customer base including multiple Fortune 500 and top construction companies in the United States. A number of other companies are in discussions about becoming part of USSG, the company said. “Acquiring Dalton Rigging, along with Walker, strengthens USSG’s presence in the New England region and expands our network of rigging and logistics services into this attractive market,” said Steve Laganas, USSG founder and CEO. “We are very pleased that Kevin Dalton and his team are now part of USSG. With Kevin’s history, stellar reputation, strong customer relationships, and Walker’s broader scope of service capabilities, we see USSG will continue to grow and prosper in this market.” Laganas is also the owner and CEO of Able Equipment Rental, headquartered in Deer Park, N.Y.
JLG’s all-new E18 Vertical Mast Lifts now available
JLG Industries, Inc., an Oshkosh Corporation company and a global manufacturer of mobile elevating work platforms (MEWPs) and telehandlers, introduces an all-new vertical mast lift series to the market. The new JLG® E18MCL model is well-suited for construction and industrial applications that require outdoor and indoor capable machines while the E18MML model is ideal for finish work and general maintenance work, as well as for cleaner indoor-only applications. Both E18 models are available with a Stock Picker Package Option for warehouse and distribution center applications. “The new E18 vertical lift series from JLG has been engineered to provide the most important features and benefits: Maximized durability, ease of serviceability and enhanced productivity — while keeping operator safety, confidence, and comfort in mind,” says Misty Mason, JLG’s product manager. “These new models offer an efficient and productive way to tackle up-and-over work and an alternative to using ladders and scaffolding.” According to Mason, the “E” in these models’ nomenclature stands for “Electric,” giving a nod to the machines’ modern DC electric drive system. Equipped with long-running batteries, JLG’s E18 models offer two times more duty cycles than the market-leading competitive machines. And thanks to the batteries being mounted under the platform, the E18s also are designed with improved machine weight distribution for efficient loading and unloading. Application specific “One benefit of these new JLG vertical mast lifts is that these machines allow users to access confined spaces,” says Mason. The E18MCL is rated for indoor and outdoor use, opening up unlimited application opportunities. Equipped with solid, non-marketing tires, its scissor-style steering is similar to JLG scissor lifts for quick familiarization and reliable control through tight areas like doorways. The E18MML is rated for indoor use only, making it an ideal machine for sensitive flooring and finish work applications, including maintenance. Equipped with caster wheels, this model’s Point & Go® steering is the same as the more traditional vertical lift steering style on JLG’s predecessor models. The Stock Picker Package option, available on both E18 models, includes a fold-down work tray platform with side entry saloon doors, gate alarm, and dual amber beacons. Notable features These new models come standard with JLG’s field-proven load-sensing system. This pressure-based system monitors the load of persons, materials, and tools in the platform to ensure the machines’ capacity ratings are not exceeded. Optimized for durability, the E18s are engineered with an improved roller system on the extension deck and re-engineered mast guards to reduce the potential for debris to accumulate and hinder the operation. These models are designed with the operator in mind, featuring modern, ergonomic controls and an enhanced entry/exit from the platform. And, their quick change platform system allows operators to efficiently switch platforms in one minute to suit unique job requirements. There are five different platform options, including extension decks and trays, to choose from to increase productivity. The new JLG E18 vertical mast lifts share commonality with JLG scissor lifts, including toolless entry into key areas, to enhance serviceability. “This reduces familiarization time and increases efficiency with parts, service, and maintenance needs,” Mason says. And, she notes, that these models are compatible with the JLG Handheld Analyzer for on-site troubleshooting and are equipped with the onboard Multi-Display Indicator that provides real-time information on the machine. Mason adds that these models are also available with market-leading options such as ClearSky™ telematics for fleet maintenance and management, CleanGuard™ for leak containment, and a USB charger and phone cradle to give operators extra conveniences in the platform. Spec check “The new JLG E18 vertical lifts are spec’d for productivity,” says Mason. The E18MCL’s platform height is 18 ft indoors and 13 ft outdoors, while the E18MML and the E18 with Stock Picker Package Option models have 18 ft indoors. The E18 models also boast a platform capacity of 450 lbs when equipped with the standard platform. “This is 22 percent more capacity than comparable competitive vertical models in the market,” she says. Mason adds, “Keeping machine weight low was also very important in designing these machines.” The E18s weighs 1900 lbs when equipped with the standard platform — a lower gross vehicle weight than comparable competitive vertical models, which are over 2,000 lbs. And, these models are engineered with a zero turning radius and 30-percent gradeability to provide maximum maneuverability in a lightweight machine. “This means that these machines can go on most freight elevators, work on sensitive flooring and fit through doorways,” she finishes. JLG’s new E18 vertical mast lifts are now available to order. For more information on these new models, click here.
R&M improves reliability for stainless steel producer
Overhead cranes from R&M Materials Handling, Inc. have provided a cost-effective and more reliable solution for a producer of stainless steel. Application Based in Fort Wayne, Indiana, Valbruna Slater Stainless, Inc. (VSSI) is part of the Valbruna Group. Founded in 1925, Valbruna has 2,500 employees and an annual output of approximately 250,000 tons of specialty steel. Production is primarily focused on stainless steel and specialty alloys, such as nickel alloys and titanium long products. As part of its investment in continuous improvement, Valbruna is constantly updating its production capabilities and experience. For VSSI, this included upgrading its overhead cranes, which are used to move finished goods and raw materials for stainless steel processing. Challenge VSSI wanted to replace two older DC-powered cranes with more powerful AC cranes – but still retain the existing bridge structure. The older cranes had become unreliable, and the hoists were heavy compared to more modern solutions. Getting new cranes to work on the current bridge would ensure that the upgrade was highly cost-effective. Solution VSSI turned to Hoosier Crane Service Co. for expert assistance. HCS, founded by Tom and Cherie Schmidt, is a family-owned business headquartered in Elkhart, IN. Hoosier Crane has grown throughout the last 20 years from 4 employees to approximately 100 employees and is presently providing overhead crane material handling solutions throughout the USA. The older DC cranes were each equipped with 20-ton and 7-ton dual hoists on one trolley. Hoosier Crane’s original plan was to keep a center line bridge drive motor on both but replace the DC motors with larger AC motors. However, Hoosier Crane decided that the more viable solution was side-mounted SEW Euro Drive gearboxes with motors. Hoosier Crane removed the two existing hoists and replaced them with new R&M 10-ton hoists. Hoosier Crane installed the new hoists on a new ASCE rail. These new hoists were one-third of the weight of the old hoists. Results Using the R&M 10t hoists, Hoosier Crane was able to deploy a more reliable, lightweight, and modern system without replacing the bridges. Patrick Hilger, Engineering and Maintenance Manager at Valbruna Slater Stainless, Inc. said: “Hoosier Crane has been a reliable service vendor for Valbruna for years. We were looking for a reliable, cost-effective solution that could still be designed to fit the existing bridge structure. Using the existing bridge structure saved cost on installation and material.” Derek Bukrajewski, Director of Service for Hoosier Crane, said: “R&M has always been a reliable option in the past. In this case, it fits the footprint for what both HCS and the customer were trying to accomplish.”
OZ Lifting unveils ProMat 2023 showcase
OZ Lifting will show a variety of davit cranes, hoists, and lifting components at ProMat 2023, which takes place March 20-23, 2023 at Chicago’s McCormick Place. The company will exhibit at Booth S122. The Winona, the Minnesota-based manufacturer, which will take a 10 ft. by 15 ft. booth, will show its new Aluma-Lite davit crane for the first time at ProMat. The ultra-portable davit crane is available in 500 lbs. and 1,000 lbs. capacities, each available with three bases: pedestal, socket (flush-mount), or wall-mount. The Aluma-Lite 500 weighs in at 24 lbs. with a maximum capacity of 500 lbs. Aluma-Lite 1,000, meanwhile, weighs in at 47 lbs. with a maximum capacity of 1,000 lbs. Both fold flat for easy storage or transportation; are made of aerospace / military grade aluminum; and are available with manual winch (including drill drive adapter), AC or DC electric winches. Further, they boast a durable, powder-coated finish; no tools are needed for assembly/disassembly. The Tele-Pro davit crane will again be on the exhibit. The patented model allows users to leverage the benefits of other lifting technologies in its range while telescoping the boom in and out under load. The CompOZite and CompOZite Elite carbon fiber models will also be on show, as will the recently launched Longreach davits. However, OZ Lifting is more than a davit crane manufacturer, and its showcase will also feature several stainless steel products, designed for use in corrosive environments, including hoists, beam clamps, trolleys, and a manual winch that boasts a drill-adaptor feature. Spark-resistant hoists and trolleys will be of interest to exhibitors too. Steve Napieralski, president at OZ Lifting, said: “As with all products in our range, the new davit cranes fill voids in the material handling marketplace. As such, we expect the [Aluma-Lite and Longreach] davits to be especially popular, but our composite products always seem to attract attention. MHI-sponsored shows have become an integral part of our annual exhibition strategy. Business is still very good, and we have several new products that will launch next year.” ProMat features over 900 exhibits from leading solution providers and a comprehensive educational conference of over 150 sessions focusing on best-in-class solutions for manufacturing and supply chain operations. Exhibits will represent all segments of the material handling, logistics, and transportation industry, from traditional, manual equipment to computerized, automated systems and smart, connected supply chain technologies. Napieralski added: “Having that many exhibitors should draw a lot of attendees and Chicago being a central location should help as well. The cons, however, are you can get lost in the maze of exhibitors. We plan on getting the word out that we will be exhibiting and will be inviting a lot of distributors. The educational sessions are good for the industry. Anytime you can offer to learn, those attending are there for a reason. They will gain a new concept or learn something new that helps their business.”
Oshkosh Corporation to acquire Hinowa
Builds on Successful 12-Year Partnership with JLG; Broadens Product Portfolio Oshkosh Corporation, an innovator of mission-critical vehicles and essential equipment, today announced it has entered into a definitive agreement to acquire Hinowa® S.p.A., a privately held international company and manufacturer of track-based aerial work platforms, mini dumpers, lift trucks, and undercarriages. Once complete, Hinowa will become part of the Oshkosh Access Equipment segment. “We look forward to welcoming the Hinowa team into the Oshkosh family,” said John Pfeifer, Oshkosh Corporation’s president and chief executive officer. “This acquisition will accelerate our electrification capabilities and provide growth opportunities across core and adjacent markets.” Hinowa is well-known for its advanced track designs and electrification expertise as an early adopter and leader in lithium-ion battery technology. Hinowa has produced JLG® compact crawler boom lifts since 2010, including electric, hybrid, and diesel-powered models. “We are excited to expand our long-term relationship with Hinowa,” said Frank Nerenhausen, executive vice president, Oshkosh Corporation and president, JLG Industries. “Combining our capabilities will enable us to better serve customers and expand our operational footprint in Europe.” Hinowa was founded in 1987 in Nogara, Italy, and today has an approximate 250,000 sq. ft. manufacturing facility and 50,000 sq. ft. parts facility with nearly 230 team members. The company has a long history of innovation, offering a diverse line of premium products for work at height and vegetation management applications. “We are pleased to join Oshkosh Corporation,” said Dante Fracca, founder and owner of Hinowa. “Our successful 12-year relationship with JLG, along with shared core values around culture, safety, productivity, and sustainability position us well for the future.” The Hinowa acquisition supports the Oshkosh accelerated growth strategy. The transaction, which is subject to customary closing conditions, is expected to close within 90 days.
Sara Vincent joins JLG and JERR-DAN as Director of Marketing
Oshkosh Corporation companies JLG Industries, Inc. and Jerr-Dan Corporation, LLC have hired Sara Vincent as the new Director of Marketing for the Access segment. In this role, Vincent will lead marketing and communications initiatives for JLG® mobile elevating work platforms (MEWPs) and telehandlers, as well as Jerr-Dan® towing and recovery equipment in North America and Latin America. Vincent brings nearly 20 years of communications and marketing experience to this role, most recently as the Vice President of Marketing for Arete, a global cyber risk company. She also has vast experience in the telecommunications industry, having led branding, public relations, channel marketing, and new-market initiatives for both T-Mobile and AT&T. Vincent holds a Bachelor of Arts degree in Journalism from the University of Maryland and is a student in the Master of Business Administration program at the University of Baltimore. “Sara brings a wealth of knowledge and experiences to this role that will support JLG’s and Jerr-Dan’s continued leadership in North and Latin America,” says Tim Morris, JLG senior vice president of sales, marketing, and customer support. “She understands how to create strategic marketing initiatives to achieve our goals, and as she gains deeper knowledge of our businesses and operations, she’ll be a valuable resource for the company in reaching our customers.” “I am excited to join the JLG and Jerr-Dan teams and look forward to contributing to our continued success,” says Vincent. “It’s an exciting time to bolster the team’s efforts to increase the presence of these iconic, innovation-driven brands in the Americas.” Vincent takes over the company’s efforts from Jennifer Stiansen, who has transitioned to her new role as Vice President of Global Branding and Communications for Oshkosh Corporation.
Raimondi Cranes presents three new products at Bauma 2022
Raimondi Cranes presented three new products at Bauma 2022, and welcomed thousands of guests over the course of the event. The two cranes – T187 and T357 – were erected at Raimondi’s outdoor exhibit, and were shown alongside the company’s new extended crane cab, the Raimondi Lumina X. “We presented the T357 for Bauma, as it demonstrates the superior characteristics of the Class 150, the Raimondi’s new range of six flattop cranes. With a maximum lifting capacity ranging between 12t to 24t, this new class was designed with the Central & Northern Europe, American and Canadian markets in mind,” explained Cristian Badin, Commercial Director at Raimondi Cranes. The Class 150 range is the second new series announced by Raimondi over the course of the trade show. With a maximum radius of 77.5m and a maximum tip load of 2.67t in UltraLift, the T357 has the best-in-class specification in terms of jib length and load capacity both at the tip and at intermediate reaches. “The Raimondi T357 is aptly-suited for construction of medium-to-high infrastructural job sites due to its maximum lifting speed of 152 meters per minute using a 75 kW winch, and the drum capacity of 800m,” said Badin. Similar to the Class 110 series, the full range of Class 150 machines is designed and conceptualized as a whole set of cranes by prioritizing the modularity of mechanical and carpentry parts, as well as the interchangeability of the jib elements. The new crane series’ name is drawn from the 1.5m wide jib section. All of the Class 150 models can be equipped with Lumina X, Raimondi’s extended version of the newly-launched crane cabin. “At Bauma, we decided to install the T357 equipped with Lumina, while keeping Lumina X on the ground level to allow everyone to experience its impressive dimensions – at a length of 3.88 meters and a height of 2.14 meters – and rich features,” Badin explained. Market research and feedback figured heavily into Lumina’s design planning stage, as the cabin is built around crane operator needs. The new Cab meets the most rigorous international norms of safety and quality while catering to the highest level of operator comfort. “When designing the new Cabin, we wanted to develop a space that satisfied the needs and requests of those who spend significant amounts of time operating the machine itself. We wanted to meet their expectations by raising our standards, and offering them the most comfortable working environment possible,” he stated. At 2.14 meters high, 2.28 meters long, and 1.50 meters wide, the Lumina is one of the largest and most comfortable cabins in today’s marketplace. Boasting several new benefits such as an integrated refrigerator, multiple drawers, coat hangers, a wireless phone charger station, and Bluetooth audio system, Lumina also features a new pneumatic seat made of a 1.50cm memory foam layer that stabilizes according to operator body weight. The pneumatic seat alleviates any discomfort during long hauls by preventing fatigue and posture pain, while also allowing for a calming working experience. “The new Cab sports Raimondi’s fresh branding color scheme and boasts more than 80% of its total surface made of shatterproof glass. We worked to prevent overheating by using athermic glass, and redesigned the AC system to avoid glass tarnish,” Badin stated. While both versions have the same features, Lumina X has been designed specifically for countries with adverse weather conditions as the electrical cabinet is now part of the cabin, allowing for ease of maintenance. Class 150 and Class 110 are both equipped with the newly-developed ConCore, a control system that builds on previous model strengths while having the capability to instantly detect and report the specific types of errors, malfunctions, and faults. This important integration simplifies maintenance and service operations, thereby reducing site downtime. Additionally, the control system allows crane operators to fully calibrate the machine directly from the in-cabin station or via remote control. “We received an exceptional market response for all of the products that we showcased at Bauma. Our dealers, potential clients, industry stakeholders, and guests expressed great enthusiasm for all of Raimondi’s launches: Class 110, Class 150, and Lumina. We are positive that our new models will be seen on several important job sites globally. We look forward to delivering our first two T187s in Italy and Belgium,” concluded Badin, thanking his clients for their trust, and congratulating the many customers that have expressed interest in acquiring the new models.
Terex reports Third Quarter 2022 results
Sales of $1.1 billion increased 13% year-over-year, 21% on FX neutral basis Total backlog grew 33% year-over-year to $3.9 billion Income from operations of $121 million, up 63% year-over-year Operating profit margin of 10.8% improved 330 bps year-over-year EPS of $1.20, up 79% year-over-year Raising full-year 2022 EPS outlook to a range of $4.00 to $4.20 Terex Corporation (NYSE: TEX) has announced its results for the third quarter of 2022. CEO Commentary “We are pleased with our strong financial performance in the quarter as a result of continued progress on our strategy and the relentless focus of our team members to deliver our products and solutions to customers and dealers,” said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. “We grew sales 21% when adjusting for FX rates and ended the quarter with total backlog of $3.9 billion, an increase of 33% year-over-year and a clear indication of the strength of demand from our customers.” “We remain focused on executing our multi-year growth plan and continue to invest in new technologies and products across our businesses. In our Materials Processing segment we expanded the capabilities of our growing environmental business with the recent acquisition of ZenRobotics, allowing us to deploy robot technologies that pick, sort and recycle waste material. In addition, our Genie team continued to execute their product electrification plans with the introduction of a new lithium-ion battery option for the line of GS E-Drive slab scissor lifts. We are proud of our execution this quarter despite continued global supply chain disruptions, significant inflationary pressures and foreign exchange rate volatility. Following the strong performance in the third quarter, we are raising our full year EPS outlook to a range of $4.00 to $4.20. Our globally recognized brands, industry-leading and innovative new products, backlog, and strong balance sheet position us well to successfully navigate the near-term macro challenges and deliver long-term value.” Third Quarter Operational and Financial Highlights Net sales of $1.1 billion in the third quarter of 2022 increased 12.7%, compared to $1.0 billion in the third quarter of 2021. The increase was primarily due to improved price realization necessary to mitigate rising costs across all segments and healthy demand for our products which was partially offset by a 7.9% negative impact from changes in foreign exchange rates. Income from operations of $120.8 million, or 10.8% of net sales in the third quarter of 2022, improved from $74.2 million, or 7.5% of net sales, in the prior year. The year-over-year increase of $46.6 million was driven by price realization, favorable mix and incremental margin achieved on higher sales volume, which more than offset cost increases and the negative impact of foreign exchange rates during the quarter. Price / cost dynamics improved sequentially, increasing operating margins by 120 bps from the second quarter of 2022. Income from continuing operations in the third quarter of 2022 was $81.8 million, or $1.20 per share, up 79.1% compared to $47.5 million, or $0.67 per share, in the third quarter of 2021. Return on invested capital of 19.0% significantly exceeded our cost of capital as we continued to invest in the business and return cash to shareholders through dividends and share repurchases. Business Segment Review Materials Processing Net sales were $457.9 million for the third quarter of 2022, up 9.4% or $39.2 million year-over-year, primarily due to price realization necessary to mitigate rising costs and healthy demand for our products across multiple businesses. Excluding the impact of foreign exchange rates of approximately $43 million, net sales increased 19.6% year-over-year. Income from operations increased to $66.8 million for the third quarter of 2022, or 14.6% of net sales, compared to $57.1 million, or 13.6% of net sales, in the prior year. The $9.7 million increase was driven by price realization, favorable mix and incremental margin on higher sales volume and partially offset by significant inflationary pressures and the negative effects of foreign exchange rate changes. Aerial Work Platforms Net sales were $662.6 million for the third quarter of 2022, up 15.7% or $90.1 million year-over-year. Excluding the impact of foreign exchange rates of approximately $35 million, net sales increased 21.9% year-over-year. The increase was primarily due to price realization necessary to mitigate rising costs and higher demand driven by fleet replacement and end-market growth for aerial work platforms. Utility product growth was strong in North America. Income from operations increased to $63.5 million for the third quarter of 2022, or 9.6% of net sales, compared to $34.9 million, or 6.1% of net sales in the prior year. The $28.6 million increase was driven by price realization, favorable mix and incremental margin on higher sales volume and was partially offset by increased costs, as well as the negative effects of foreign exchange rate changes. Income from operations increased 81.9% year-over-year and margins were up sequentially from the second quarter of 2022 by 190 basis points. This sequential improvement was the result of strong execution on strict cost management and pricing actions to mitigate inflationary cost pressures. Disciplined Capital Allocation As of September 30, 2022, the Company had liquidity (cash and availability under our revolving line of credit) of $658.0 million. Working capital of $895.7 million was 20.0% of trailing three month annualized net sales and reflects higher inventory levels as a result of supply chain disruptions. For the year-to-date period, Terex deployed $128.9 million for capital expenditures and growth investments. Year-to-date, Terex has executed $92.0 million in share repurchases and paid $26.8 million in dividends. CFO Commentary Julie Beck, Senior Vice President and Chief Financial Officer, said “We are proud that our strong balance sheet has allowed us to return approximately $120 million of cash to shareholders year-to-date. Our teams continue to execute on our multi-year growth plan, driving sales and expanding margins through disciplined pricing and expense management. As a result, we are raising our full year sales, margin and EPS guidance ranges.” 2022 Outlook (in millions, except per share data) Terex Outlook (1) PREVIOUS Outlook UPDATED Outlook Net Sales $4,100 – $4,300
H&E Equipment Services Inc. reports third quarter 2022 results
H&E Equipment Services, Inc. just announced results for the third quarter that ended September 30, 2022, citing record results for its rental business segment, meaningful fleet growth, and further expansion of its branch network. On October 1, 2021, the Company sold its crane business, (the “Crane Sale”). All results and comparisons for the periods reported are presented on a continuing operations basis with the Crane Sale reported as discontinued operations in certain statements and schedules accompanying this report. THIRD QUARTER 2022 SUMMARY Revenues increased 17.7% to $324.3 million compared to $275.4 million in the third quarter of 2021. Net income increased 55.2% to $38.4 million compared to $24.7 million in the third quarter of 2021. The effective income tax rate was 25.2% compared to 24.7% in the third quarter of 2021. Adjusted EBITDA totaled $139.4 million, an increase of 24.1% compared to $112.3 million in the third quarter of 2021, resulting in a margin of 43.0% of revenues compared to 40.8% in the third quarter of 2021. Total equipment rental revenues were $253.6 million, an increase of $56.4 million, or 28.6%, compared to $197.2 million in the third quarter of 2021. Rental revenues were $224.1 million, an increase of $47.5 million, or 26.9%, compared to $176.7 million in the third quarter of 2021. Used equipment sales decreased 34.7% to $20.3 million compared to $31.1 million in the third quarter of 2021. Margins improved to 53.7% compared to 37.6% in the third quarter of 2021. New equipment sales totaled $23.5 million, an increase of 21.4% when compared to $19.4 million in the third quarter of 2021. Gross margin improved to 46.8% compared to 41.4% in the third quarter of 2021. Total equipment rental gross margins were 50.5% compared to 45.6% in the third quarter of 2021. Rental gross margins were 55.6% compared to 50.9% over the same period of comparison. Average time utilization (based on original equipment cost) was 73.3% compared to 71.9% in the third quarter of 2021. The Company’s rental fleet, based on original acquisition cost, closed the third quarter of 2022 at approximately $2.1 billion, an increase of $305.4 million, or 16.7%, compared to the third quarter of 2021. Average rental rates increased by 10.1% when compared to the third quarter of 2021, and 3.2% when compared to the second quarter of 2022. Dollar utilization improved to 42.7% compared to 38.9% in the third quarter of 2021. The average rental fleet age on September 30, 2022, was 40.6 months compared to an industry average age of 53.0 months. Paid regular quarterly cash dividend of $0.275 per share of common stock. “A combination of exceptional rental rate appreciation, robust physical fleet utilization, and further fleet growth resulted in a record performance for our equipment rental segment,” stated Brad Barber, chief executive officer of H&E. “We continue to lead the industry in average rental rate improvement, with rates in the third quarter advancing 10.1% when compared to the same quarter in 2021, and 3.2% on a sequential quarterly basis. I believe several factors contribute to our consistent pricing success, including outstanding operational execution and the use of our proprietary “Smart Rates” platform, along with an advantageous mix of equipment, and expanding geographic reach. Also, average physical fleet utilization continued to rise, closing the quarter at 73.3%, or 140 and 10 basis points ahead of the year-ago and sequential quarters, respectively. Finally, our fleet, as measured by original equipment cost (OEC), grew $305.4 million, or 16.7% from the year-ago quarter, and $277.0 million, or 14.9%, since the close of 2021. We ended the third quarter with a record fleet OEC of more than $2.1 billion while establishing record revenue, gross profit, and gross margin in our equipment rental segment. On a consolidated basis, records were set for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDA margin.” Mr. Barber offered an encouraging perspective on the equipment rental industry, explaining, “We expect favorable industry fundamentals to prevail through the close of 2022 and into 2023. This promising outlook is supported by a backlog of projects in the non-residential construction and industrial end markets that continue to sustain strong customer demand. In addition, global supply chains continue to constrict the availability of rental equipment. These factors reinforce a fundamentally sound business environment, leading to solid fleet utilization and favorable pricing trends. As early as 2023, we expect to benefit from the onset of numerous infrastructure projects, as well as other construction projects focused on the expansion of U.S. manufacturing capabilities and renewable energy. Collectively, these programs are expected to provide greater visibility to emerging construction opportunities.” H&E has successfully demonstrated its ability to grow, with 2022 being a record year of expansion for the Company. Concluding, Mr. Barber said, “Our strategic growth and expansion initiatives made exceptional progress in the third quarter. The previously announced acquisition of One Source Equipment Rentals Inc. (One Source), which closed on October 1, 2022, increases our branch network by 10 locations, including an initial presence in Illinois, Indiana, and Kentucky. In addition, the consistent progress of our accelerated new location program was evident in the third quarter, with four branches opened during the period. The latest branch openings bring the total of new locations this year to eight. With more openings expected in the fourth quarter, we are confident in achieving our goal of no less than 10 new locations in 2022. In less than two years, we have added 28 locations to our branch network and now operate 120 branches across 29 states.” FINANCIAL DISCUSSION FOR THE THIRD QUARTER OF 2022 Revenue Total revenues improved to $324.3 million, or 17.7%, in the third quarter of 2022 from $275.4 million in the third quarter of 2021. Total equipment rental revenues of $253.6 million improved by 28.6% compared to $197.2 million in the third quarter of 2021. Rental revenues of $224.1 million increased by 26.9% compared to $176.7 million in the third quarter of 2021. Used equipment sales of $20.3 million decreased by 34.7% compared to $31.1 million in the third quarter of 2021. New equipment sales of $23.5 million increased by 21.4% compared to $19.4 million in the same quarter of 2021. Parts sales of $16.7