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News from around the Industry
In this section we will try to keep you regularly updated with interesting, factual news from the world of Plant Hire, Building Supply and General Construction and Industrial Supply sectors.
If you have any items you think may be of interest to other Job Seekers, Employers or Recruiters forward them to info@ukhirejobs.com and we'll be happy to publish them here.
22 June 2010
HSS CEO Named ‘European Rental Person Of The Year’
HSS, the UK’s award-winning tool and equipment hire company, have had their Chief Executive, Chris Davies, heralded as ‘European Rental Person of the Year’ by the European Rental Association.
The awards were attended by over 250 rental professionals and organised by International Rental News (IRN) and the ERA, and were announced at a special dinner in Prague at the ERA’s annual convention.
It is the latest award to be linked to the ‘original tool hire company’, who were awarded Hire Association Europe’s Hire Company of the Year 2009, Contract Journal’s Plant Hire Company of the Year 2009, and were awarded HAE’s ‘Excellence in Customer Care’ award in 2010.
The judging panel for the European Rental Association have said they wanted to recognise Davies’s contribution in making HSS “one of the most modern and innovative companies in the industry” and one that is “at the forefront of using the internet to market its services.”
Chris Davies has led companies in sectors including building materials, office equipment and leisure retailing. Having joined HSS in 2006, he has been cited to have re-engineered HSS into a business focussed on serving professional customers in addition to the homeowner/DIY market where they were traditionally strong.
Stocking over 15,000 items, including ladder and plant hire, chainsaw and scarifier rental. HSS are also the only company to hold a 4* British Safety Award.
Plant hire firm Hewden has confirmed that one of its employees was fatally wounded in the shooting incidents that took place in Cumbria on 1 June
Plant operator David Bird had worked for the firm for eight years at Hewden’s Whitehaven depot, which has been closed until 7 June as a mark of respect.
In an official statement, the firm said it was “deeply saddened by these events, and extends it sympathies to all the families affected by this tragedy.”
Mr Bird was the brother of gunman Derrick Bird, and is believed to have been his first victim.
He was described by his employer as a well-liked colleague who was well known to many customers in the area. The Whitehaven branch where he worked hires out both operated and non-operated equipment. Mr Bird was a fully trained plant operator who would operate Hewden hired equipment on customer’s sites throughout the region.
Hewden said that customers affected by the temporary closure of the Whitehaven depot will find that all telephone calls to the depot are diverted to another Hewden depot, or they can call head office on 0161 848 8621 begin_of_the_skype_highlighting 0161 848 8621 end_of_the_skype_highlighting for assistance.
LIVERPOOL stockbroker Panmure Gordon expressed disappointment with Newton-le-Willows plant hire group Speedy Hire’s annual results – but still remains a buyer of its stock.
The broker said Speedy Hire’s figures came in on the low side of expectations, but praised the firm for cutting debts.
Speedy Hire chairman David Wallis revealed a 27.3% fall in revenues to £351m in the year to March 31.
Pre-tax losses improved from a £71.1m deficit last year to £22.8m in 2010, and group operating losses of £8.6m compare with a loss of £50.7m previously.
The group said net debt was cut by more than 50% to £119m and it revealed the decline in revenues had slowed to 12.1% in the fourth quarter.
Two new contracts worth £6m annually were also announced.
Mr Wallis told shareholders: “As activity levels improve, your business is in good shape to capitalise on the recovery.”
Panmure Gordon analyst Mike Allen said Speedy’s full-year results were slightly lower than expectations, adding: “Lower full-year debt is a positive, and the size of cost cutting sets up the business well for future profitability.”
He believes caution on current year capital expenditure has ramifications for the group’s top-line growth, and expects to trim current year profit expectations.
“However, we believe Speedy remains well-placed for the upturn and remain buyers,” he added.
Speedy Hire celebrates renewal of five year deal worth up to £20m
SPEEDY Hire, the Newton-le-Willows based plant hire group, has renewed an existing deal with Galliford Try which could be worth up to £20m over five years.
The new contract also involves an extension to the scope of the services it provides Galliford Try, including a bespoke hire desk providing a single point of contact for the client.
Speedy said the extension of its deal with the Galliford Try business has particular value as it is Speedy’s longest standing preferred supply agreement, dating back to 1996 and the purchase of the then internal fleet activity of Vine Plant.
FINNING International Inc. has announced that is has sold Hewden, its UK equipment rental business, for £110.2 million to Sun European Partners LLP, and it is thought at the income will be used to reduce debt within Finning’s operation.
In relation to the UK arm of Finning’s business, which sells and services the full range of Caterpillar equipment including telehandlers and loading shovels, it has been clarified that the Canadian parent company of Finning remains fully committed to this UK operation.
Finning said it is investing in its product line, which includes the recent introduction of the TH407 telehandler and the 926H wheel loader and has seen an increase in interest and customer demand for its products in this non-traditional Caterpillar market.
The company has already exhibited at this year’s Lamma show and will be attending the Scograss exhibition next week and also the forthcoming Cereals show.
“Going forward, Finning’s UK dealership will continue to work closely with our plant hire customers to place Caterpillar equipment into the UK equipment rental market,” said Andy Fraser, managing director of Finning UK Group. “Our market approach is to provide total solutions with extraordinary service and Caterpillar world class products. We are confident we can demonstrate the value of Finning to Hewden’s new owners and maintain a productive commercial relationship with Hewden.”
Rationlisation
“This is a continuation of our journey towards a new Finning and the final step in rationalising our UK operations. Combined sale proceeds from this transaction, Hewden Tools, and the dealership’s Materials Handling divisions total almost $600 million,” notes Mike Waites, president and chief executive officer of Finning International Inc. “We have a great business model going forward and are completely focused on driving the operating performance and value potential of Finning.”
Hewden covers 63 locations in the U.K. and has 1,300 employees. The existing Hewden commercial centre in Manchester is proposed to be the new head office for Hewden. Finning has agreed to provide transitional services to Hewden. Finning UK will continue to operate 20 branches in the UK with 1,470 employees serving Caterpillar dealership customers throughout the UK based from its head office in Cannock, Staffordshire.
Nov 02 2009
A Shropshire plant hire firm is up for sale after falling into administration, with the loss of dozens of jobs.
Oswestry company Incasep, which trades as Greyhound Plant Services, collapsed a week ago, becoming the latest victim of troubles in the construction industry.
The final nail in the coffin for the firm was a problem over tax repayments.
The company missed two payments, and then failed to arrange a feasible plan to pay them back, and so was taken into administration. HMRC originally wanted the amount to be repaid in full in one payment. This was later negotiated down to 50 per cent but it was still too much for the company.
At least 40 people lost their jobs immediately when the firm went into administration while the rest of the 200-strong workforce carried on while a buyer was sought.
Administrators from Birmingham financial services firm Begbies Traynor were brought in to manage the business, with joint administrators John Kelly, Nigel Price and James Martin being put in charge.
They said the aim was to keep the company going and save as many jobs as possible.
The family firm, which has traded in Shropshire for 27 years, has a blue chi p customer base and was involved in building and civil engineering projects across the West Midlands and Wales. It provides plant hire, earthworks and training to the construction industry, highways, water and waste and quarrying industries, supplying both housing and civil engineering projects.
The company had a long-standing relationship with Volvo, which made up a large proportion of its fleet of construction vehicles, including excavators, haulers and rollers. Early this year the company invested heavily in new equipment from Volvo, taking on 34 vehicles for its fleet.
Before falling into trouble, Incasep traded with a turnover of roughly £20 million a year.
Begbies Traynor said it was regrettable that redundancies had been made but the ultimate aim was to keep the company trading while looking for a buyer. It added creditors were being kept informed over the process but it has not yet said what level of debt the company has.
Last night, the Greyhound website had been taken down from service but the company was still operational.
June 9 2009
Job Seekers do the Strangest Things
Picking a recent copy of an industry magazine I found myself reading an article on the lengths candidates will go to secure a job or even just an interview with a recruiter.
There's no doubt about it, times are hard, jobs are thin on the ground and we all have to go that extra mile to secure our immediate futures. My favourite however was the candidate who obviously believed he was the best thing since.. and to let his preferred consultant know just that, he forwarded his CV, Covering Letter and a "CONGRATULATIONS" card in the post. He was congratulating the recruitment consultant on being lucky enough to have received his CV and that he was obviously highly employable by one of his clients!
Other stories I enjoyed included the sales training role interviewee who prior to his interview made a number of calls to his potential employers offices in a mystery shopper stylee, at the interview he then presented a full report to the employer highlighting areas that he deemed positive as well as areas where he felt training was needed for those advisors he'd spoken to. Result... a very impressed employer and success for the job seeker!
There are many stories of candidates who offer their services free for a period of time usually 1 month UNPAID in which to prove themselves worthy of the position offered, not all succesfull it has to be said. As well as candidates who try to twist the standard responses on CV's and during the interview itself, such as:
- Interests: "dropping things from great heights"
- My favourite Colour is....
- Tell us about something daring that you have done: The candidate stood up, pulled up their shirt and proudly showed a board of directors HER nipple ring! You guessed it... she didn't get the job.
April 6 2009
Plant and Construction Equipment Auctions in Boom Time
Having attended a number of trade shows and more recently a local but very well know plant equipme
nt auction it is evident that there are a number of organiations (not least the auctioneers themselves) that are benefiting enormously from the current downturn in the industry. These auctions however are not for the faint-hearted I witnessed, a degree of knowledge of second-hand values is a must before the pressures and excitement of the surroundings leads you into "just one more bid" that can take the eventual price paid, including auctioneers commission fees, VAT! (yes vat is chargeable on some, not all of your purchases) and hidden costs of collection and further selling costs, utimately being well over the item's inherent value!
An interesting article I read today on the benefits and pitfalls of construction companies buying used AND new plant and equipment from one of the regular auctions held throughout the UK is available here: It's lengthy but interesting if auctions are something you are involved in or are considering
Speedy Hire agrees new banking facility
01 Apr 2009
SDY - Speedy Hire
chart
Latest Prices
Name Price %
Speedy Hire 220.00p +14.88%
FTSE All-Share 2,057 +0.28%
FTSE Small Cap 1,912 +2.16%
Support Services 2,819 +0.25%
Speedy Hire has agreed a revised £300m banking facility that extends to June 2012 which it says gives its ‘prudent levels of headroom.'
The firm said the revised covenants are appropriate for current market conditions and the group's trading outlook over the term of the facility.
In January, Speedy Hire's shares dropped considerably as it warned of slumping revenues and announced it was exploring avenues to establish new banking covenants.
It announced today that trading continues to be difficult but that it had a substantial reduction in it's cost base left it will placed to deal with lower trading volumes.
It said it has continued winning new business, including being selected by the Olympic Delivery Authority to help develop facilities for the 2012 Olympics in London.
UK Hire Jobs showing at SED 2009 May 12/13/14 Stand 25 Blue Pavilion 
UK Hire Jobs is delighted to announce a presence at the The National Event For Construction, the SED 2009 Show. Perfectly timed to coincide with the launch of the new and updated UKHireJobs website, it is the first opportunity in 2009 to get in front of decision makers and key candidates from the Plant Manufacturing and Hire sectors.
Situated in the Blue Pavilion on stand 25 we are looking forward to show casing the revolutionary and innovative new services and features available to Employers and Candidates alike.
Vp Expects..
February 13, 2009
| Vpplc, owner of Groundforce Specialist Rental Products and Hire Station has issued an upbeat interim trading statement stating that despite experiencing some trading deterioration since November it is still expecting to see its full year to come in within market expectations. |
Vp believes that strategies and implementations prior to the slump leave it well set for the futre, saying: “We expect that most sectors will have a challenging year ahead, particularly commercial construction and house building, but the Group's consistent strategic focus on a broad range of specialist rental activities should provide a degree of resilience to the current economic downturn. We anticipate more supportive conditions from the regulated markets in transmission, water, rail and also from publicly funded construction projects.”
“The volatility in the economic environment makes it uniquely difficult to predict future performance. However, taking all circumstances into account, we expect to deliver a satisfactory result in the forthcoming financial year relative to the current market conditions.”
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