Sunbelt Rentals to Acquire NationsRent

Charlotte-based Sunbelt Rentals, a subsidiary of Ashtead Group, and Fort Lauderdale-based NationsRent Cos. announced an agreement under which NationsRent will be merged into Sunbelt to form the third-largest equipment rental company in the U.S.

Sunbelt Rentals will pay approximately $1 billion in cash, assumed debt and bond redemptions to complete the transaction, which was expected to close in late August. After the acquisition, the combined companies will operate 477 outlets in 35 states, employ over 7,000 people and have combined 2005 revenues of approximately $1.4 billion.

"We are excited to announce the proposed merger of Sunbelt Rentals and NationsRent," said Cliff Miller, president and chief executive officer of Sunbelt Rentals.

Support operations will mainly be consolidated at Sunbelt's Charlotte headquarters and staffing will be evaluated to reduce duplication and improve efficiency, the companies stated.

The acquisition was expected to close by late August 2006, pending approvals from shareholders of Ashtead Group and appropriate regulatory agencies.

Sunbelt Rentals is the fourth largest equipment rental company in the U.S. as listed by the Rental Equipment Register. It provides rental equipment for the industrial, construction, municipal and do-it-yourself markets from its network of 209 branches in 27 states.

NationsRent operates 268 locations, including 100 at Lowe's Home Improvement locations, in 26 states. It specializes in rentals and also sells new and used equipment with related merchandise, parts and supplies, and provides maintenance and repair services.

Carter & Burgess Acquires Day Wilburn Associates

Carter & Burgess, a national engineering and architectural firm, has acquired the Atlanta-based transportation planning and engineering firm, Day Wilburn Associates.

"The acquisition of DWA falls directly in line with our growth strategy in that it expands our capabilities into the Atlanta market," said Ben Watts, Carter & Burgess president and CEO. "The southeastern sector of the United States is a high performing market sector with growth opportunities."

DWA's client base includes state transportation departments, regional planning agencies, county and municipal governments, business development groups, private enterprises, civic organizations and public institutions.

Odebrecht CEO Wins "Golden Hammer" Award

Gilberto Neves, CEO of Miami-based Odebrecht Construction, received the "Golden Hammer" award from the Contractor's Resource Center. The Golden Hammer award recognizes Neves and Odebrecht for their support of small and minority contractors in South Florida. Neves received the honor during the third annual Contractors Choice Awards Gala.

The Contractors Resource Center assists small and minority-owned contracting firms by facilitating construction opportunities, partnerships and joint ventures with large contractors.

Owen-Ames-Kimball named Contractor of the Year

Owen-Ames-Kimball Co. of Fort Myers was named "Contractor of the Year" at the first annual Lee Building Industry Association Summit Awards banquet.

Each commercial contractor was judged on its ethical behavior, customer relations, management capabilities and safety program by a panel of commercial building professionals.

Volvo Plans $25M Investment for Excavator, Cab Production in N.C.

In mid-2007 the first Volvo excavators to be built in North America will roll off the production lines of the company's manufacturing plant in Asheville, N.C. Volvo Construction Equipment reported that over the next few years, the company's investment in excavator and excavator and wheel loader cab production at the plant could reach more than $50 million, a capital program designed to meet growing requirements of the North America market.

The new production project at the plant in Asheville will include, in addition to cabs and continued production of five Volvo wheel loader models, four of Volvo's 11 excavator models. The expanded operation will add between 250 and 300 new employees.