December 18th marked the first day of enforcement of electronic logging devices (“ELDs”) for truckers. Once regulated using easy-to-“fudge” paper logs, drivers now must log their duty status into an electronic device that monitors hours of service.
McDermott International (NYSE: MDR) and Chicago Bridge & Iron Company (NYSE: CBI) announced yesterday that they would merge in a transaction valued at $6 billion to create a fully vertically integrated onshore-offshore engineering, procurement, construction, and installation (EPCI) company. The new company, of which McDermott shareholders will own 53% and CBI shareholders will own 47%, will generate approximately $10 billion in revenues and will have backlog of approximately $14.5 billion.
Linamar Corporation (TSX: LNR) announced yesterday that it would acquire the MacDon Group of Companies for $1.2 billion CAD. The consideration will eventually be adjusted by fees and other customary adjustments.
According to the Association of Equipment Manufacturers, US sales of self-prop combines and tractors generally showed continued improvements year over year in November. The only category that showed weakness was sales of 4WD tractors, which came in at 107 units, down 21.9% from November 2016.
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