Page 58 - January_2023

TICKER TAPE
EQUIPMENT Germany’s Kiesel Group has celebrated the 90th birthday of
DOUBLE CELEBRATION FOR KIESEL

Helmut Kiesel, the man who – along with his wife Christa – founded
the equipment supplier more than 60 years ago.
Helmut and Christa started the business in 1958.
Since that time it has grown to employ more than 1,200 staff at
over 50 European locations, and has become a regular exhibitor
at the Bauma trade show in Munich.
The company has also established Coreum, a platform for
innovation in construction, recycling and handling based a mobile fast charging station for battery-electric construction
near Frankfurt am Main which now has more than 50 partner machinery, electric vehicle and machines.
companies. Toni Kiesel, Managing Partner of the business, said: “The Powertree solves a concrete problem on modern construction
“My father burns for his cause every day. He has the absolute sites,” said KTEG managing director Harald Thum.
customer focus and stands up unconditionally for his company, “In many places, there is no fast-charging infrastructure available
because it is his life’s work and the centre of his life!” to electric excavators, so that the use of electric excavators is
In the same year as Helmut Kiesel’s milestone birthday, KTEG – limited by long charging times.
the manufacturing and development umbrella of the group – “The Powertree as a transportable 10-foot container solves exactly
has also achieved second place in the mobility category of the this and makes it possible to charge machines within normal break
2022 Hessian State Prize for Energy awarded by the state’s Ministry times without having to involve qualified electrical personnel
of Economics. It was honoured specifically for the Powertree, during installation.”

NMDC TO INFUSE `900 CRORE FOR RAMPING UP and from 7 MMT to 15 MMT for the Chitradurga and Tumkur districts.
PRODUCTION AT KUMARASWAMY MINES NMDC has an EC for 7 MTPA and produces 7 million tonnes. On
NMDC Limited plans to invest up to `900 crore over the next two November 10, the Indian Bureau of Mines (IBM) recommended
to three years to increase iron ore production from 7 MTPA to 10 that the company increase its capacity from 7 to 10 MTPA. At
MTPA at its Kumaraswamy mines in Karnataka. the site, there will be a crushing, screening, and loading plant.
In a meeting held between November 9-11, an Expert Appraisal According to sources, the CAPEX for all of these projects will be
Committee under the Minister of Environment and Forests gave Rs898 crore spread over two to three years.
its green signal for Environmental Clearance, allowing NMDC to Because the EAC has already recommended the project, it is
increase production and the EC is valid until 2042, according to expected that the Ministry of Environment, Forests, and Climate
company sources. The Karnataka government renewed the lease Change will issue the EC next month, according to sources.
for the Kumaraswamy mine for another 20 years in June 2022, In FY23, NMDC plans to produce 46 MTPA of iron ore. This volume
bringing an end to a period of uncertainty. is 10% higher than what the PSE produced in FY22 and will lend
In August, the Supreme Court increased the ceiling limit for iron ore support against any potential pricing pressure, the miner previously
mining in Karnataka from 28 MMT to 35 MMT for the Ballari district, stated.

SUNBELT MAKES 27 ACQUISITIONS IN SIX MONTHS although total revenues are likely to be down 8% because of the
Ashtead Group has made 27 acquisitions at a cost of US$609 absence of the pandemic-related activity.
million in the six months to 31 October. Most of the deals were in The company highlighted the growing importance of mega-
North America where it added 72 locations in the period, more projects in the US, with projects over $400 million in value
than half of those through acquisitions. The company reported a representing 30% of all non-residential construction, up from 13%
26% increase in group revenue to $4.79 billion for the first half year, in 2000-2009. It said such projects were well suited to large rental
with EBITDA profits 24% up at $2.25 billion. Sales in the US were 30% companies with scale and breadth of product.
higher at $4.07 billion and 25% up in Canada at C$389 million. Ashtead’s Chief Executive, Brendan Horgan, said the company
Revenues at Sunbelt Rentals UK were down 2% to £361 million, performed strongly in all its geographies and had outperformed
because of the comparison period in the previous year when it the market. He said Ashtead’s investment in acquisitions “is
was selling and renting equipment for hundreds of Covid testing enabling us to take advantage of the substantial structural
sites. Sunbelt’s specialty rentals business in the US continues to growth opportunities that we see for the business as we deliver
expand, with sales up 34% in the period. It said the acquisition of our strategic priorities to grow our general tool and specialty
Modu-Loc, a temporary fencing business in Canada, created the businesses and advance our clusters.
foundation for its eleventh specialty business. “We are achieving all this while maintaining a strong and flexible
Raises full-year guidance balance sheet with leverage near the bottom of our target range.”
Ashtead said it had momentum in its business and increased He added; “We are in a position of strength and, with increased
its rental revenue guidance for the full year, with its US business market clarity, have the operational flexibility to capitalise on the
expected to grow by 20 to 23% (previous guidance was 17-20%) opportunities arising from the market and economic environment
and the group as a whole by 18 to 21% (previous 15 to 17%). we face, including supply chain constraints, inflation and labour
Rental revenues in the UK are expected to be flat over the full year, scarcity, all factors driving ongoing structural change.”

58 CONSTRUCTION OPPORTUNITIES|JANUARY 2023