Tyler Equipment

Jun 17, 2022

Photo courtesy of U.S. Steel Corp. Steelmakers offer optimistic guidance Two more United States-based steel producers have joined Nucor Corp. in offering second quarter 2022 earnings guidance that point to the likelihood of sizable profits. Fort Wayne, Indiana-based electric arc furnace (EAF) mill operator Steel Dynamics Inc. (SDI)  is referring to “record second quarter 2022 earnings guidance” it places in the range of $6.33 to $6.37 per diluted share. Pittsburgh-based U.S. Steel Corp. is likewise pointing to “a new all-time best second quarter performance” in the current timeframe. The operator of both blast furnace/basic oxygen furnace and EAF mills is predicting second quarter 2022 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately $1.6 billion, or in the range of $3.83 to $3.88 per diluted share. EAF producer SDI says its profits exclude the impact from costs associated with the startup of the company’s Sinton, Texas , flat roll steel mill. Second quarter 2022 earnings from the company’s metals recycling operations, which includes those of subsidiary OmniSource Corp., are expected to be “significantly higher than sequential first quarter results, based on strong demand supporting increased shipments and higher pricing,” says SDI. SDI’s second quarter 2022 profitability from the company’s steel operations is expected to be historically strong, but lower than first quarter 2022 results, due to lower earnings from the company’s flat roll steel operations, as lower average flat roll steel pricing is expected to more than offset increased flat roll steel shipments. Demand for SDI long steel products is strong, says SDI, “supporting increased average realized pricing and expected record shipments for the company’s Engineered Bar Products, Roanoke Bar, and Structural and Rail steel divisions. David B. Burritt, president and CEO of U.S. Steel, comments, “We expect to continue delivering record performance in the second quarter, with each business segment meaningfully contributing to profitability. Our broad end market exposure keeps our business resilient with demand across a diverse customer base, including the resurging energy market. Our focus on strategic end markets and the continued realization of significantly increased fixed price contracts is again expected to generate another quarter of record performance.” Commenting on the company’s capital allocation strategy, Burritt continues, “Our balance sheet remains strong with an overfunded pension plan and no significant debt maturities until 2029. Our strategic projects are pre-funded, with a current cash position approaching $3 billion, and we accelerated our stock buybacks in the second quarter. We continue to invest in the business with high confidence and are well-positioned to execute on our Best for All  strategy and capital allocation framework.” Both Rad Technologies, Thetford Mines, Quebec, and Dalkotech, Sherbrooke, Quebec, bring to the table decades of experience in lean manufacturing along with a history of developing products made for the OEM market, specializing in light implements for the snow and agricultural segments. The newly acquired companies will expand and enhance GRYB’s portfolio in unique ways. “With their combined expertise in lean manufacturing, decades of experience in OEM product development and relationship building, Rad Technologies and Dalkotech will play an instrumental role in advancing our position in the attachment industry,” GRYB President Remi Beaudoin says. “Our aligned cultures and shared desire for excellence made this a natural fit, and we couldn’t be more excited to have these tremendous companies join our group” The GRYB organization, which specializes in heavy equipment attachments for various industries including recycling, has seen tremendous growth since its 2007 inception to having over 500,000 square feet of manufacturing space, eight factories, nearly 1,000 employees and a fleet of fully automated welding equipment. “We are very proud of the organization and the people that have made GRYB into what it is today,” Beaudoin says. “We’ve reached a major milestone in our group history, with producing more than 45,000 tools annually and surpassing $250 million in revenue, and we’re not done yet.” The latest acquisition comes weeks after the announcement of Eco-Trak Industries joining the GRYB Group of companies. Eco-Trak specializes in designing and manufacturing technology systems for heavy equipment and trucks aimed at improving efficiency and job site safety, including 2D digging systems, reach limiting systems and wheel loader scales. GRYB will celebrate its 15th anniversary this fall. Other recent acquisitions include Bateman Manufacturing in Ontario, Winkle Industries in Ohio and Serco Loaders in Minnesota, as well as the start-up of the Shearex plant in Roxton Falls, Quebec, GRYB is pursuing its ambitious strategic growth plan both organically and through acquisitions. Eggersmann expands dealer network Eggersmann North America has signed dealer agreements with Timber Ridge Equipment, Ephrata, Pennsylvania, and Stone Equipment Co., Montgomery, Alabama, expanding its coverage along the East Coast. Eggersmann North America is the Pennsylvania-based subsidiary of Germany-based Eggersmann GmbH , a manufacturer of recycling equipment ranging from Forus preshredders to Teuton universal shredders to Terra Select screens and windsifters. Effective the first of this year, Timber Ridge Equipment became the official and exclusive dealer for Eggersmann shredders and screeners in the sStates of Pennsylvania, New York, New Jersey, Maryland, Delaware, Connecticut, Massachusetts, Virginia, Vermont, New Hampshire, Maine and Rhode Island. The family business is owned by Tim and Marelda Martin and features a service department that can provide fast, high-quality service work in the field and in its own professional workshop. Photo courtesy of Eggersmann North America The T 70 trommel screen To see the high-torque single-shaft shredder Z 60, the high-torque dual-shaft shredder SE 25 or the trommel screen T 60, contact tim@timberridgeequip.com or call 717-733-2453. Starting in May, Stone Equipment became Eggersmann’s official and exclusive partner for shredders and screeners in Alabama, Tennessee, Georgia, North Carolina, South Carolina, Florida and Mississippi. The family-owned company already has a good reputation in the compost- and recycling industry, according to Eggersmann. With additional locations in Birmingham, Alabama; Hampton, Georgia; and future branches in the Carolinas and Tennessee, Stone Equipment has good coverage in sales and service within its territory, Eggersmann says. Stone’s environmental specialists are Nick Furey, nick@stonequipmentco.com and 904-903-8852, and Zack Gradwell, zack@stonequipmentco.com and 334-672-2297. Eggersmann North America is the full-line supplier of trommel screens, star screens, shredders and self-propelled compost turners, engineered and manufactured in Germany and Poland. With its brands Terra Select, Teuton, Forus and Backhus, Eggersmann North America provides leading technology in the field of mobile recycling machines for almost all kinds of applications where shredding, screening or turning is required. The company will move from its current location in Illinois. Caterpillar Inc. has announced it will move its global headquarters to the company’s existing office in Irving, Texas, from its current location Deerfield, Illinois. “We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” says Chairman and CEO Jim Umpleby. Caterpillar traces its roots to co-founders Benjamin Holt and C.L. Best. In 1890, Holt invented a steam tractor while shortly thereafter Best began to focus on early gasoline technology, according to the history section of the Caterpillar website. The company’s use of tracks to replace wheels yielded the name Caterpillar in 1905, a designation that was formalized with a trademark registration in 1910. Also in 1910, then California-based Caterpillar opened up a manufacturing plant in East Peoria, Illinois. The company expanded rapidly in Peoria, making the city its corporate home until 2017. That year, Caterpillar announced the move of its executive offices to suburban Chicago. Caterpillar has had a presence in Texas since the 1960s across several areas of the company. Illinois remains the largest concentration of Caterpillar employees anywhere in the world. The company will begin transitioning its headquarters to Irving in 2022. Photo courtesy of Sennebogen The company named Tractor & Equipment Co., Envimat and Tyler Equipment as leading dealers. Material handler manufacturer Sennebogen LLC, Stanley, North Carolina, has announced its annual “Dealer of the Year” winners, with Birmingham, Alabama-based Tractor & Equipment Co. (TEC) named as 2021’s top dealer. Employee-owned TEC operates 20 machine sales and service branches. Envimat, a recent addition to the Sennebogen network and the first dealer from South America to win recognition in the Sennebogen’s distributor awards, was second, and Tyler Equipment of East Longmeadow, Maine was third. TEC has seen changes at its top level in the past year. Dan Stracener remains chairman, while Chad Stracener has become CEO, with his former position as president filled by DeVaughn Pettit. With this transition, Dan Stracener credits the company's success to teamwork in his organization. “I’m doing more in the background these days,” Dan Stracener says, “while Chad and DeVaughn and our teams are running the day-to-day business of the company. They also have close regular contact with various areas and levels of Sennebogen.” The Straceners’ hands-on approach to the business is reflected in their relationship with Sennebogen, the company says. “Sennebogen is a hands-on manufacturer with its customers, and they understand the sense of urgency in our business, so they’re a fantastic partner. We’re totally aligned. When you go to a sales meeting with Constantino, it’s all about taking care of the customer – that’s the top of their list and it dominates every conversation. It includes more than just sales: parts, service, training and anything that the dealer does with or for the manufacturer, they are involved. A lot of that is somewhat siloed within other manufacturers but with Sennebogen you have this straight line of communication,” Dan Stracener says. “Even through COVID,” Dan Stracener says, “Sennebogen did not accept any excuses for supply chain issues. They found a way. And we sold more new machines with Sennebogen than we have in any in our history, last year. For me, it’s very enjoyable to see the younger guys take over the company successfully and to get these kinds of results.” Dan Stracener also notes the continual development of Sennebogen’s product line. “They are totally dedicated to the product and that really shines through," he says. "While others have come in and out of the market or have focused on one area, Sennebogen, being customer-focused, has consistently been there. The Sennebogen product is very simple and efficient. They design that into their machines so you can diagnose problems on the spot; things that are simple enough that a customer can even troubleshoot it themselves.” Dan Stracener continues, “Whether our customers are in aggregates, or scrap, or tree care or anything that’s a material handling application, Sennebogen has just continued to grow and create new offerings for the industry. That’s been a big part of keeping our product line fresh and opening up new opportunities.” At Envimat, Director Vinícius Casselli says the firm’s recognition as one of Sennebogen’s top dealers came as a “very big surprise.” Envimat was established a little more than three years ago, but in that time, Casselli and his team have delivered over a total of 120 machines to Brazilian customers including scrap processors, steel mills, pulp mills and other forest-based operations. “We know that we are doing a good job in Brazil,” Casselli says. “But this recognition pushes us to dedicate ourselves more, because we know that we are on the right path.” Casselli says Envimat’s success is the result of two key factors. The first is fulfilling Sennebogen’s mission of customer service and support. “By keeping Sennebogen’s promise of training, onsite visits, sales support, service and stocking parts, we are showing our market that Envimat is not just a dealer, we are a part of Sennebogen.” The second factor is Envimat’s exclusive focus on Sennebogen equipment. “I often tell our team that our plan B is to make plan A work,” says Casselli. “And our plan A is to dedicate ourselves entirely to selling and keeping Sennebogen equipment up and running.” Serving southern New England, Tyler Equipment is a 100-year-old equipment dealership. Brooke Tyler III, the company’s third-generation president, is carrying the family tradition forward. “We provide tools that our customers use in their daily business. When that tool is out of service, downtime needs to become uptime as fast as possible. Through all the years, this has been the focus of our company,” Tyler says. To ensure the highest standard of before and aftersales service, Tyler’s staff includes an application specialist and team of technicians dedicated solely to Sennebogen. “Our team provides expertise in all aspects of selling the right machine for the application and supporting the customer. That’s the key to our success," Tyler says. Tyler Equipment is one of Sennebogen's longest serving distributors. Sennebogen says a shared philosophy of turning downtime into uptime is what led the two companies to discuss their potential future together in 2002.