With Christmas and New Year’s Day upon us, it’s hard to fathom that 2014 is nearly in the books. This time of year is truly special as it gives us time to appreciate those around us. It’s a time for companies to celebrate all the hard work that went into the year and to recognize all of our employees and representative that made it such a successful year.
Looking back, 2014 was a great year for Chicago Pneumatic. We released several new products at ConExpo: concrete trowels, the Red Hawk Road, ride-on rollers and a number of new versions of RX Breakers. Speaking of RX breakers, sales continued to soar by more than fifty percent in 2014. Since the introduction of the RX line in 2012, we now have 300 plus rental companies that have adopted these units for use in their rental fleet. It represents a tremendous vote of confidence from our independent rental customers that are the backbone of our business.
Tradeshows season lies just ahead; CP is again hitting the trail hard to begin the winter season as we travel to World of Concrete in the Las Vegas Convention Center and the Rental Show at Ernest Morial Convention Center in New Orleans. We will be in booth O31054 at WOC and booth 7135 at the Rental Show. The Rental Show is our key event and we plan to have a significant presence there. The day before the show begins is our annual CP awards banquet to honor our top sales achievers. It’s always a great evening and one that is near and dear to me as we get to honor those who deserve to be recognized for their outstanding contributions.
What makes the upcoming Rental Show even more exciting is the continued upward direction that the rental industry is heading in. According to the American Rental Association’s (ARA) latest forecast from the ARA Rental Market Monitor, the equipment rental industry in the United States is expected to show a growth of 7.3 percent this year to reach $35.7 billion. It will more than triple the expected growth rate of GDP in the United States this year and exceed the growth of the industries it serves.
At Chicago Pneumatic, we now have a structure in place to serve our customers more professionally than ever before. This year we opened our seventh regional service center and our hydraulic attachment configuration center in Cleveland to complement our main warehouse facility in Charlotte. As a rental industry leader, we bear the responsibility for continually improving our processes and our products and helping our customers be more productive and profitable. Thank you for the confidence you’ve shown in us and for your support in growing our share of the rental and construction markets.
From all of us at Chicago Pneumatic, we want to wish you Happy Holidays and an equally Happy New Year.