MANITOWOC, Wis. — Crane and lifting solutions manufacturer Manitowoc Co. recently reported second-quarter net sales of $394.6 million.
Second-quarter orders of $379.5 million, which included the initial production order related to a U.S. Army contract, were up 9 percent from the comparable period in 2016. Backlog totaled $491.2 million at June 30, 2017, up 25 percent from the second-quarter 2016 ending backlog of $393.5 million.
Second-quarter 2017 net sales were $394.6 million, versus $457.7 million in the comparable period in 2016. The majority of the year-over-year decline was attributable to lower crawler crane shipments in the Americas, as the company shipped a significant volume of these cranes in the prior year, and lower rough-terrain crane shipments, primarily in the Americas and the Middle-East, mainly due to continued weakness in oil and gas market demand.
The company reported net income from continuing operations of $700,000 in the second-quarter 2017, versus a net loss from continuing operations of $5 million in the second-quarter 2016.
“In the second quarter we have seen order improvement in most product categories except lattice boom crawler cranes,” Barry L. Pennypacker, president and chief executive officer, said in a news release. “We have experienced pockets of improved demand in specific markets like the Permian and Eagle Ford basins in North America. European markets continue to experience moderate growth, mainly in residential and non-residential construction markets, partly offset by continued weakness in the Middle-East.”
The company’s crane group headquarters is in Shady Grove, Pa., near Greencastle.
Chinese delegation tours Frederick airport
FREDERICK, Md. — Frederick Municipal Airport’s general aviation business model proved educational for a delegation from China on July 25.
Frederick Municipal Airport hosted a delegation from Chengde, China, on July 25. The group wanted to learn more about how general aviation works in the United States, according to a news release from the City of Frederick.
e group wanted to gain a better understanding of airport management, facility development, project financing, business development and the role of local government.
The Federal Aviation Administration’s Foreign Affairs Office assisted with coordinating the visit.
The delegates heard presentations from Airport Manager Rick Johnson and representatives of the Aircraft Owners and Pilots Association, Maryland State Police Trooper 3, Signature Flight Support, Richard Crouse and Associates, Frederick Flight Center,and Bravo Flight Training.
Chengde Vice Mayor Li Jinyu traveled with several colleagues: Wang Yi, director, Chengde Municipal Development and Reform Commission; Cao Zuojin, mayor, Pingquan County government; Sun Fulai, director, Chengde Airport Construction and Management Bureau; and Wu Yichen, interpreter, English Lecturer of Hebei Tourism Vocational College, the news release reported.
The delegation toured the air traffic control tower and learned how FDK enables the smooth flow of aircraft into nearby commercial service airports by easing congestion and thus fulfilling its role as a reliever airport, according to Johnson.
“This was a great opportunity to show how general aviation airports drive economic activity and provide incredible benefit to a community beyond transportation,” Johnson said.
Nestlé Waters brings new beverage delivery service to Shenandoah Valley
STAMFORD, Conn. — Nestlé Waters North America announced recently that it is expanding its operations in Kearneysville, W.Va., with a new ReadyRefresh by Nestlé branch and service. ReadyRefresh is Nestlé Waters North America’s online shopping and delivery service that provides a variety of beverage options directly to the homes of consumers and local businesses.
The new branch in the Shenandoah Valley will provide distribution of a wide variety of bottled water and related beverages to the growing number of residents, including those in nearby towns in Maryland. The new branch will bring jobs in both delivery and leadership, with the goal of reaching 15 to 20 jobs over the next five years.
Nestlé Waters North America, the third largest non-alcoholic beverage company by volume in the U.S., produces products such as Deer Park Brand Natural Spring Water, Nestlé Pure Life, Perrierand S.Pellegrino. Based in Stamford, Conn., with about 8,500 employees, Nestlé Waters North America manages nearly 50 spring sites, as well as nearly 14,000 acres of watershed as open space.
Keller Williams opens Martinsburg, W.Va., office
MARTINSBURG, W.Va. — Keller Williams has relaunched its real estate network in Martinsburg, W.Va., and surrounding areas with the opening of Keller Williams Realty Eastern Panhandle.
The market center, as Keller Williams calls the operation, is led by Jay Deeds, operating principal and broker, and Stacy Lawing, team leader. The market center offers services for parts of West Virginia, Maryland, Pennsylvania and Virginia.
The office is at 105 Tavern Road. The website is www.KWEasternPanhandle.com
Keller Williams bills itself as the largest real estate franchise by agent count in the world. It was welcomed into the No. 1 spot on the 2017 Training Top 125 and earned induction into the Training Top 10 Hall of Fame in 2018 after ranking in the Top 10 for four consecutive years.
“We are proud of the way we do business and hope residents and clients will think of us when they think of real estate. We are the only office Keller Williams in West Virginia, but it’s just the beginning. We welcome experienced and new agents to come grow with us,” Deeds said in a news release.
Beacon Grace consulting firm debuts new product
HAGERSTOWN, Md. — Beacon Grace LLC, a technology, consulting, and professional services firm, has launched an executive-level operational assessment tool for manufacturers, distributors and retail organizations.
The Beacon Operational Health Assessment is a proprietary 26-point measurement and evaluation tool that gives executives, investors and third parties valuable information for strategic planning and investment decisions.
Customers may choose from four package options.
For more information, visit www.beacongrace.com.
P&G says earnings for quarter, year hold steady
CINCINNATI — Procter & Gamble Co. recently reported results for the fourth quarter and for its 2017 fiscal year.
For the April-June 2017 quarter, net sales were $16.1 billion, unchanged versus the same quarter of 2016, including a negative 2 percentage point impact from foreign exchange. Diluted net earnings per share came in at 82 cents, an increase of 19 percent. Core earnings per share totaled 85 cents, an increase of 8 percent.
The company generated $3.7 billion of operating cash flow in the quarter.
For fiscal year 2017, net sales were $65.1 billion, unchanged versus the prior year, including a negative 2 percentage point impact from foreign exchange. Diluted net earnings per share were $5.59, an increase of 51 percent versus the prior year period. Core earnings per share were $3.92, an increase of seven percent versus the prior year period.
The company generated $12.8 billion of operating cash flow in fiscal 2017.
“We met or exceeded each of our going-in objectives for fiscal year 2017 in a challenging macro and competitive environment,” David Taylor, chairman, president and chief executive officer, said in a news release. “We made significant progress on our key priorities: accelerating organic sales growth, continuing to drive strong productivity improvement and cost savings, strengthening our organization and culture and completing moves to simplify and strengthen our product portfolio.”
The company is building a production facility at the Tabler Station Business Park off Interstate 81 in Berkeley County, W.Va. The plant is set to begin production in December.
Volvo unveils new VNL series
Volvo Trucks North America recently unveiled its new Volvo VNL series semi tractor.
The company says the new series boasts of “cutting-edge innovations in efficiency, productivity, safety and uptime.”
The tractor is available in several configurations, including an all-new, 70-inch sleeper.
The new VNL series was designed and engineered at Volvo Trucks’ North American technology center in Greensboro, N.C., It will be built at Volvo’s New River Valley assembly plant in Dublin, Va., where all Volvo models for the U.S. are assembled.
Volvo engines and transmissions powering each VNL model will be produced at Volvo’s powertrain manufacturing facility in Hagerstown, Md.
“The new Volvo VNL builds on our long-standing commitment to deliver the safest, most comfortable and most efficient long-haul truck on the market,” Göran Nyberg, president of Volvo Trucks North America, said in a news release.
On the outside
The new model features swept-back headlights, daytime running lights and a new grille and hood. Redesigned and repositioned engine air intakes allow for less turbulent intake air delivery. Airflow up and around the cab has been optimized, contributing to better fuel efficiency.
“While we wanted the new VNL to make a statement on the road, we knew that it also had to make a statement to our customers’ bottom lines,” said Wade Long, director of product marketing for Volvo Trucks North America.
Behind the wheel
The new trucks feature a series of interior improvements aimed at driver comfort and productivity. Some of those include
• A dashboard that puts often-used controls within the driver’s reach.
• A five-inch color, customizable driver information display that provides trip and diagnostic data.
• An optional infotainment system, featuring a seven-inch color touchscreen, navigation and an exterior back-up camera. A premium audio system is integrated with the infotainment system, which also features Bluetooth and Apple CarPlay.
• A dash-top tray featuring 12-volt power and USB connectivity.
• Volvo’s smart steering wheel, which puts controls for nearly all of the driver interface functions at a driver’s fingertips.
• A wide variety of seating options with available premium features such as seat heating and ventilation.
“We relied on feedback from nearly 2,000 driver interviews to make sure the changes we were making aligned with drivers’ needs,” said Jason Spence, Volvo Trucks product marketing manager – long haul.
The sleeper cab
Four sleeper cab configurations are offered, and a full 70-inch sleeper is available in the 760 and 740 models.
All VNL sleepers feature an integrated reclining bunk, which the company says is a trucking industry first in North America.
For the first time in North America, Volvo’s Globetrotter trim levels will be available on the VNL 760 and VNL 860 sleeper models. The Globetrotter trim levels include a full aerodynamic package, polished wheels and high-end seating, as well as a refrigerator, inverter and parking cooler package.
On the road
The VNL series comes standard with the 13-liter Volvo D13 engine, while Daycab and VNL 400 models can spec the 11-liter Volvo D11 as an option. The 15-liter Cummins X15 is also available.
The Volvo D11 and D13 engines feature Volvo’s patented wave pistons, a unique design that helps burn fuel more efficiently.
The VNL is also available with the Volvo D13 Turbo Compound (D13 TC) engine that uses a mechanical waste heat recovery system to capture wasted energy from the engine’s exhaust. The result is an additional 50 horsepower fed back to the crankshaft and an improvement in fuel efficiency of up to 6.5 percent.
The new design better controls airflow around the truck and its trailer, resulting in improved fuel efficiency. When combined with the efficiency benefits derived from the D13 TC, the new VNL delivers up to a 7.5 percent increase in fuel efficiency when compared to a 2015 VNL model equipped with a GHG 2014 D13 engine.
The series comes standard with Volvo’s I-Shift automated manual transmission. With sensors detecting speed, grade and load, the I-Shift knows when to shift, hold a gear or coast in neutral.
Volvo Active Driver Assist by Bendix, standard on all Volvo VNL models, is a camera and radar-based system that combines forward collision mitigation warnings and active braking, even with stationary vehicles. The system features an industry-first heads up windshield display if a driver approaches too closely to an object in front of them. If no driver action is taken, the system can automatically apply the brakes to help mitigate a collision. Volvo Enhanced Stability Technology, an electronic stability control system, is also standard on all VNL models.
Shepherd’s new college open for business
SHEPHERDSTOWN, W.Va. — Shepherd University launched its college of business on July 1, offering new opportunities for students and companies
According to a news release from the university, the new college consists of three departments — business administration, economics and finance, and accounting.
It will also include the Master of Business Administration program.
“One advantage to our students is we can now put in place programs with the integrative and interdisciplinary skills students need in the business world,” Ben Martz, college dean, said in the news release. “Skills such as problem solving, entrepreneurship, creativity, and innovation are critical in today’s world. The hope is that students will see those skills as supporting their areas of passion, even when those areas may not be a specific business area.”
Martz has been working with local and regional business leaders to create an umbrella organization, the Applied Business Coalition.
It will provide activities and suggestions to keep the curriculum current and relevant.
There is also a new Applied Business Council, which consists of chief executive officers and presidents from several companies.
The council will provide an annual curriculum review, lectures, real-world case studies and resources for on-campus student internships, among other things.
Applied Business Council members also will organize and judge a new applied business case competition that will take place each spring and will be open to students from nearby colleges as well as high school seniors.
Council members will also participate in a new lecture series class that will bring to Shepherd successful entrepreneurs, innovators, and high-level business people who are interested in sharing how their careers evolved.
Martz will continue serving as director and will help develop Shepherd’s Center for Regional Innovation, which is listed as a TechConnect West Virginia business incubator and accelerator.
How to help
Ben Martz, dean of Shepherd University’s new college of business, is reaching out to businesses to support the college to sponsor the innovation center.
For more information, contact Martz at 304-876-5367 or email@example.com.
Sheetz named top chain for 2017
ALTOONA, Pa. — Sheetz, one of America’s fastest-growing family-owned and operated convenience retailers, has been named Convenience Store Decisions’ 2017 Chain of the Year, an annual award honoring a convenience chain displaying industry innovation and superior retail experience.
“We are so proud to be recognized by Convenience Store Decisions as the 2017 Convenience Store Chain of the Year,” Joe Sheetz, president and chief executive officer, said in a news release. “This recognition truly belongs to our employees and to the customers who have supported us for the past 65 years. Sheetz would not be the company it is today without great employees and loyal customers.”
The 2017 honor marks Sheetz as the first convenience store in the award’s 28-year history to hold the title for a second year. Sheetz was first honored as Chain of the Year in 1994, after a decade of rapid coastal expansion with the chain spanning 190 locations.
Sheetz has since expanded to more than 550 locations in six states. In the past year, Sheetz has been recognized by Fortune as one of the 100 Best Companies to Work For, a Top 12 Best Places to Work for Women and Top 35 Best Workplaces for Millennials.
“Sheetz remains a beacon of innovation that every convenience store chain can admire. It is a family-owned business that remains true to its employees and the communities it serves” said John Lofstock, editor-in-chief of Convenience Store Decisions. “Family businesses made this industry what it is today and as long as outstanding companies like Sheetz continue to thrive, the convenience store industry will continue to reach new heights.”
Sheetz remains one of America’s fastest growing family-owned and operated retailers, with eight Sheetz family members spanning three generations serving on the Executive Committee, and eight family members holding a role in the business.
Oakland, Deep Creek cited as a top honeymoon destination
McHENRY, Md. — The town of Oakland, including the Deep Creek Lake area, in Garrett County, Md., has been named by TripAdvisor as one of the 15 best honeymoon destinations in the United States.
“We are delighted to be included in this list by TripAdvisor,” said Nicole Christian, president and chif executive officer of the Garrett County Chamber of Commerce. “We know we are a hot spot for honeymoons and destination weddings so it is great to see a major travel company like TripAdvisor recognizing this as well. We hope visitors are able to join us in person to see all that Oakland, Deep Creek Lake and Garrett County have to offer.”
Along with Oakland, the list includes Sevierville, Tenn.; Malibu, Calif.; Maggie Valley, N.C.; Hanalei, Hawaii; Branson, Mo.; Key West, Fla.; Honolulu, Hawaii; Asheville, N.C.; Clearwater, Fla.; Fredericksburg, Texas; St. John, U.S. Virgin Islands; Pensacola, Fla.; Blue Ridge, Ga.; and Haiku, Hawaii.
For more information about Garrett County and the Deep Creek Lake area, go to visitdeepcreek.com.