US Fed holds rates steady as construction prices rise
The decision, announced following the Federal Open Market Committee’s latest meeting, was expected by most analysts. The announcement involved some historic intrigue, however, as two Fed governors, Christopher Waller and Michelle Bowman, dissented in favour of lowering rates; a rare move that suggests some division among officials of the central bank. In its statement, the […]
Samoter launches operator training initiative
Veronafiere, organiser of the Samoter exhibition, is launching Samoter Academy, a collaboration with non-profit foundation Engim Veneto and equipment manufacturers to promote training and skills development in the construction equipment industry. The initiative will be established after the next Samoter show, which takes place in Verona, Italy, on 6 to 9 May 2026, and aims […]
New CEO for Opifex-Synergy in US
Opifex-Synergy, the major US rental business in the Southern states of the US, has appointed Joseph ‘Jay’ Vaughn III as its CEO. Vaughn was the CEO and co-founder of Texas-based Opifex. His appointment follows the merger last year of Opifex and Florida-based Synergy Equipment. He succeeds Synergy founder J C Mas, who will become chairman […]
Delayed CapEx and tariffs impact Genie’s Q2
Terex Corp. announced a decline in Genie’s second-quarter 2025 revenues and operating profit, citing delayed capital expenditure from North American rental companies and “significant tariff rate increases.” For the second quarter, Genie reported net sales of $607 million, a -17.1% or $125 million decrease year-over-year. Operating profit for the quarter was $46 million, down -60% […]
Capex drop hits Genie quarterly revenues
Lower than expected capital expenditure from customers has resulted in a 17% drop in net sales for Genie in the second quarter of the year. Sales at Terex Corp’s Aerials division stood at $607 million, representing a $125 million fall year-over-year as rental customers focused primarily on replaceing their fleets. Genie’s GTH-1044 The lower than […]