Tractor finance – ELK Tractors http://elktractors.com/ Wed, 28 Sep 2022 17:50:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://elktractors.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Tractor finance – ELK Tractors http://elktractors.com/ 32 32 Electric Construction Equipment Market by Equipment Type, Battery Capacity, Battery Type, Power Output, Application, Propulsion, Electric Tractor Market, Electric Construction and Mining Equipment Market, and Region https://elktractors.com/electric-construction-equipment-market-by-equipment-type-battery-capacity-battery-type-power-output-application-propulsion-electric-tractor-market-electric-construction-and-mining-equipment-mar/ Wed, 28 Sep 2022 17:50:00 +0000 https://elktractors.com/electric-construction-equipment-market-by-equipment-type-battery-capacity-battery-type-power-output-application-propulsion-electric-tractor-market-electric-construction-and-mining-equipment-mar/ ReportLinker The Off-Road Power Equipment Market is expected to grow from USD 9.2 Billion in 2022 to USD 24.8 Billion by 2027 at a CAGR of 22.0% over the forecast period. All key countries have established programs/regulations to manage GHG emissions in the transportation industry. New York, Sept. 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces […]]]>

ReportLinker

The Off-Road Power Equipment Market is expected to grow from USD 9.2 Billion in 2022 to USD 24.8 Billion by 2027 at a CAGR of 22.0% over the forecast period. All key countries have established programs/regulations to manage GHG emissions in the transportation industry.

New York, Sept. 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Electrical Construction Equipment Market by Equipment Type, Battery Capacity, Battery Type, Power Output, Application, Propulsion, Electric Tractor Market, Construction & Mining Equipment Market & Region – Global Forecast to 2027” – https://www.reportlinker.com/p05974226/?utm_source=GNW
Most countries follow Euro-equivalent standards, such as Stage IV or V. The Stage V particulate limit is 97% lower than the Stage I standard, and the hydrocarbon limit (HC ) + nitrogen oxides (NOx) is 94% lower. China, Japan, South Korea and India also follow the Euro Equivalent regulation. Emission Control Technologies (ECT) such as Selective Catalytic Reduction (SCR), Gasoline Particulate Filter (GPF), Exhaust Gas Recirculation (EGR), Diesel Particulate Filter (DPF), various sensors, including the oxygen sensor, NOx sensors and thermal management technologies – are used to control and reduce emissions from off-road equipment. Some ECTs also cause loss of power and other disadvantages such as reduced fuel economy, reduced back pressure during prolonged use, more maintenance activities, etc. All of these expenses, including the increased capital of the vehicle, resulted in an extended return on investment for customers (return on investment).

To overcome these difficulties and the associated costs, manufacturers and customers are opting for an alternative mode of sustainable mobility. This has greatly contributed to the development of hybrid and electric off-road gear and equipment, which are more efficient, emission-free and quieter than their combustion engine counterparts.

In addition, the initial cost of off-road electric equipment is approximately 140% to 170% higher than that of conventional equipment due to the high cost of batteries. However, with advances in battery technology, the cost of the battery and overall equipment is expected to decrease.

Due to the high cost of electrical equipment, demand is expected to be stable in the near future; the market would show promising long-term growth. In the near future, OEMs are expected to favor hybrid or alternative fuel engines to balance equipment limitations and costs.
Underground mining activities produce noxious dusts and gases and are generally hot to very hot in temperature. Diesel-powered mining vehicles and equipment are one of the main producers of heat, nitrogen dioxide and other toxic gases in underground mines.

These emissions also increase the heat generated in underground mines, which requires a crucial ventilation system with huge maintenance expenses. According to the International Council on Mining and Metals (ICMM), 40% of the energy expenditure of an underground mine is devoted to the operation of the ventilation systems. to remove pollutants and heat from mining tunnels.

Such factors increase the overall operational cost of the mine while decreasing its production efficiency.
The regulations also require the air reaching the working faces of each mine to travel at a velocity covering at least 60 feet in one minute. These air speeds are controlled by various ventilation systems and balance the airflow with the correct ratio.

Diesel-powered vehicles not only produce emissions and heat, but also produce loud sounds in narrow mine channels. For these reasons and to achieve sustainability goals, manufacturers and mine owners have begun to favor the electrification of these mining vehicles.

Especially when designing a new mine site, incorporating a fleet of vehicles and electrical equipment can significantly reduce investment and maintenance costs. Although the ventilation system cannot be eliminated, electric mining vehicles reduce system load because they produce zero emissions and less heat.

In such cases, the capacity of the ventilation systems can be reduced, thus reducing the capital investment.
As a result, miners find electric mining vehicles more cost effective and suitable for their large underground mining operations. Additionally, many leading miners, including Anglo American (AAL.L), Rio Tinto (RIO.L) and BHP (BHPB.L), have already committed to net zero emissions by 2050, and these companies prefer electric mining. fleet to achieve their sustainability goals.
“Battery electric off-road equipment is said to dominate the market due to strict noise and emissions regulations.”
The demand for durable equipment in the mining industry to reduce ventilation costs is expected to drive the electrification of mining equipment over the forecast period. equipment.

Although such electrical equipment faces challenges such as higher cost than their ICE counterparts or longer charging time, advancements in battery technology would make electrical equipment popular in the long run.

The Americas is expected to be the second largest market for off-road power equipment
Major countries such as the United States, Canada, Mexico, Brazil, and Argentina are considered in the Americas region. The demand for off-road power equipment in the Americas is increasing rapidly due to the environmental protection measures adopted in these key countries.

Additionally, with the region’s upcoming stringent emissions standards for fuel economy, companies are scrambling to manufacture electric and hybrid equipment for the domestic market. Recent power equipment launches by major off-road equipment manufacturers have promised the growth of the on-road equipment market in this region.

Some of the major companies operating in this region are Caterpillar Inc. (USA), Deere & Company (USA), Soletrac Inc. (USA), Dana Limited (USA) and others.
In addition, the region has significant deposits of coal, iron, zinc, copper, cement, lithium and precious metals. The mining industry in this region is large and many prominent players who hold a major share of the mining equipment market are present in this region. Region.

The Americas off-road electrical equipment market is estimated to be the second largest market in the world. Strong demand for mini construction equipment including mini excavators, loaders and bulldozers is driving the growth of the off-road power equipment market in the Americas.

The United States is expected to dominate the Americas off-road electrical equipment market with a value of USD 6,793.0 million by 2027. This is primarily driven by the growing demand for electrification in construction vehicles, operating mining and agriculture, due to its various benefits, including zero emissions. and quiet operation. The presence of major off-road electrical equipment manufacturers in the United States and their increasing investments in off-road electrical equipment, subsystems and battery developments are other key reasons for the growth of the off-road electrical equipment market. road in the United States.

For example, in 2021 The Caterpillar Inc., along with another company, invested $16 million in a Series B financing for BrightVolt, Inc., a global leader in the design, development, and manufacturing of rugged safe, high energy and low cost. condition of lithium-ion batteries. This funding is intended to be used for the development of larger form factor products for the industrial electrification and electric mobility markets.
Such developments by leading companies with the aim of minimizing the disadvantages of conventional battery types in electric loaders and excavators are further expected to boost the growth of off-road electric equipment in the United States.

In-depth interviews were conducted with CEOs, CMOs, other chief innovation and strategy officers, and executives from various key organizations operating in this market.
• By Business Type: Off-Road Electrical OEM – 40%, Tier 1 – 20%, Tier 2 – 40%
• By designation: C level – 30%, administrators – 20% and others – 50%
• By region: Asia-Pacific – 50%, Europe – 20%, North America – 30% Rest of the world – 10%
The off-road electrical equipment market is dominated by a few globally established companies such as Hitachi Construction Machinery (Japan), Caterpillar Inc. (USA), Komatsu Ltd. (Japan), JCB (UK), Volvo Construction Equipment (Volvo CE) (Sweden).

Research Coverage:
The study segments the off-road power equipment market and forecasts the market size based on the type of equipment (electric excavator, electric motor grader, electric bulldozer, electric loader, electric dump truck, electric loader loader, mower electric lawn mower, electric sprayer, and electric tractor), battery capacity (<50 kWh, 50–200 kWh, 200–500 kWh et >500 kWh), battery type (lithium-ion, lead-acid and other batteries), output power (<50 hp, 50–150 hp, 150–300 hp et >300 hp), Application (Construction, Mining, Agriculture & Gardening), Propulsion (Hybrid Electric and Battery Electric), Electric Tractor Market, By Propulsion Type (Hybrid Electric and Battery Electric), Construction Electric Equipment Market and mining, by type of propulsion (hybrid electric and battery electric) and by region (Asia-Pacific, Europe and Americas)
The study also includes an in-depth competitive analysis of leading Off-Road Power Equipment manufacturers in the market along with their company profiles, key observations related to product and business offerings, recent developments and key strategies. Steps.

Key Benefits of Purchasing the Report:
The report will assist market leaders/new entrants in this market with the information on the closest approximations of revenue figures for the overall Off-Road Power Equipment Market and sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with insights into key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05974226/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
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Loan collectors face heat from RBI for unfair practices https://elktractors.com/loan-collectors-face-heat-from-rbi-for-unfair-practices/ Sat, 24 Sep 2022 17:30:00 +0000 https://elktractors.com/loan-collectors-face-heat-from-rbi-for-unfair-practices/ Rohit Bhatia (name changed) from Alwar in Rajasthan was the guarantor for a ₹1.5 lakh home loan his neighbor took out. However, when her neighbor defaulted on repayment for three months, Bhatia began to receive regular calls from debt collectors. Bhatia’s case is not isolated as many clients and their guarantors complain of harassment from […]]]>
Rohit Bhatia (name changed) from Alwar in Rajasthan was the guarantor for a ₹1.5 lakh home loan his neighbor took out. However, when her neighbor defaulted on repayment for three months, Bhatia began to receive regular calls from debt collectors. Bhatia’s case is not isolated as many clients and their guarantors complain of harassment from debt collectors at financial companies.

Even as financial institutions are in the thick of the action with regulation, the role of loan collectors is resurfacing. This follows an order from the Reserve Bank of India (RBI) prohibiting Mahindra Finance from using third party debt collectors for the recovery and repossession of assets after an unfortunate incident in Hazaribagh last week.

The move came after reports that third-party loan collectors working for M&M Finance ran over a 27-year-old woman with a tractor in Jharkhand’s Hazaribagh district, crushing her to death. An argument had broken out between the farmer, his daughter and recovery workers, local media reported.

Financial institutions outsource some of their recovery and, more importantly, asset repossession to third parties, especially in India’s B&C tier cities. It is unclear whether the RBI order benefits consumers from loan collection harassment.

Loan collectors, on the other hand, say they only try to do collection or repossession in a timely manner. “If we don’t do the recovery or repossession within the given time, the contract moves to another agency,” said an employee of the Mumbai-based Badshah Recovery agency. “Commission after collections only comes after two months from banks and non-bank lenders. By then we have to pay our collections team. on their internal resources,” he said. added. In a statement released shortly after RBI’s order, Mahindra Finance said it had not outsourced any collection activities in its vehicle finance business to third-party agencies and therefore does not expect any impact on collections.

“We have a detailed policy in place for third party compliance with respect to vehicle repossession,” said Ramesh Iyer, VC & MD, Mahindra Finance. “In light of the recent tragic incident, we have stopped third party repossessions and will further examine if and how third party agents will be used in the future.”

As banks and NBFCs, post-pandemic, face an increase in loan defaults, these companies can increase the role of staff or internal resources in collection and repossession, phasing out the third-party interventions, experts said.

“We have changed our policies based on RBI standards. We no longer employ third-party agents, as this is a sensitive issue for the regulator,” the CEO of a major NBFC said on condition of anonymity.

Shachindra Nath, VC & MD of UGRO Capital, recently mentioned in a TV interview “We have stopped third party repossessions and will review if and how third party agents will be used in the future.”

In another interview, Cholamadalam Finance said it has 1,500 external agents and employees accompanying them for collections. They have another 13,000 in-house employees who are focused on recovery. Shriram Transport, another non-bank lender, said all of its collection was done in-house.

Letters sent by ET to these entities elicited no response up to press time.

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IndusInd Bank gains 2% on good outlook; stock up 53% in 3 months https://elktractors.com/indusind-bank-gains-2-on-good-outlook-stock-up-53-in-3-months/ Fri, 16 Sep 2022 05:20:00 +0000 https://elktractors.com/indusind-bank-gains-2-on-good-outlook-stock-up-53-in-3-months/ Shares of IndusInd Bank hit a more than 10-month high at 1,238.15 rupees on BSE during intraday trading on Friday in an otherwise weak market on hopes for a bright outlook. The private lender’s stock traded at its highest level since November 2, 2021 and hit a 52-week high of Rs 1,241.85 […]]]>


Shares of IndusInd Bank hit a more than 10-month high at 1,238.15 rupees on BSE during intraday trading on Friday in an otherwise weak market on hopes for a bright outlook. The private lender’s stock traded at its highest level since November 2, 2021 and hit a 52-week high of Rs 1,241.85 on October 28, 2021.

At 10:01 a.m.; IndusInd Bank quoted 2% higher at Rs 1,217, against a 1.3% decline in the S&P BSE Sensex. Over the past three months, it has climbed 53%, compared to a 15% rise in the benchmark.

Meanwhile, IndusInd Bank on Thursday approved Sumant Kathpalia’s reappointment as chief executive and managing director for three years from March 24, 2023. READ MORE

In the April to June quarter (Q1FY23), IndusInd Bank recorded a 64.4% year-on-year (YoY) increase in its standalone net profit to Rs 1,603 crore, driven by an increase healthy net interest income (NII). The NII rose 15.8% year-on-year and 3.5% quarter-on-quarter (QoQ) to Rs 4,125 crore, driven by robust business growth.



Additionally, Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) edged up 8 bps and 3 bps QoQ at 2.35% and 0.67%, respectively. Meanwhile, net interest margin (NIM) improved to 4.21% in Q1FY23 from 4.06% in Q1FY22.

That aside, analysts remain bullish on the outlook for agricultural sector loan growth due to good monsoon trends. Loan growth was seen across all products. While the auto finance segment recorded the highest quarterly disbursements in the first quarter of FY23, the CV, UV, cars and tractors segments also recorded robust disbursements. However, disbursements were moderate in the 2 and 3 wheel segment.

“The focus on new growth drivers and investment in the retail franchise to drive growth. Gradual retaliation of liabilities will gradually support the margin trajectory. A healthy provision reserve of 3.4% should keep the cost of credit at normalized levels. Although opex is expected to remain high and stable NIM and healthy inflow will help RoA,” ICICI Securities analysts said.

Analysts at Anand Rathi, meanwhile, believe the bank’s credit growth and profitability should be solid due to the recovery in demand for MFIs and vehicle finance. They also foresee good prospects for companies regarding the government’s infrastructure push, a strong balance sheet and strong liquidity and capitalization.

“Amid rising interest rates, the NIM is expected to hold above 4%. We expect higher margins and moderation in operating expenses to maintain strong operating earnings. On good operational performance, a resumption of business growth and the benign cycle in the cost of credit, profitability should be robust,” the brokerage said, maintaining a “positive” view on IndusInd Bank, with a target price. revised by Rs. 1,300 per share.


Technical view


Bias: Positive

Support: Rs 1,215, Rs 1,205

Resistance: Rs 1,330

IndusInd Bank has been trading with a positive bias since late July 2022, when the stock’s 20-DMA (Daily Moving Average) crossed the 50-DMA.

Additionally, the stock has been holding above the upper end of the Bollinger Band on the daily chart for the past four trading sessions. This contributed to the positive feeling at the counter. The bias will likely remain positive as long as the stock holds above Rs 1,215.

So far this week, the action is also hovering above the upper end of the Bollinger Band on the weekly chart, which stands at Rs 1,206. A weekly close above this should be bodes well for the title.

On the upside, the stock appears to be heading towards the Rs 1,330 level, which is the trendline resistance on the monthly chart.

Momentum oscillators are also in favor of the bulls at the moment. However, in case the title breaks the support at Rs 1,215 and Rs 1,206, a drop to Rs 1,160 seems possible.


(With contributions from Rex Cano)


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ARKO CORP. : Entry of Material Definitive Agreement, Unrecorded Equity Sale, Settlement FD Disclosure, Financial Statements and Exhibits (Form 8-K) https://elktractors.com/arko-corp-entry-of-material-definitive-agreement-unrecorded-equity-sale-settlement-fd-disclosure-financial-statements-and-exhibits-form-8-k/ Mon, 12 Sep 2022 12:05:06 +0000 https://elktractors.com/arko-corp-entry-of-material-definitive-agreement-unrecorded-equity-sale-settlement-fd-disclosure-financial-statements-and-exhibits-form-8-k/ Section 1.01 Entering into a Material Definitive Agreement. On September 9, 2022, GPM Investments, LLCa Delaware limited liability company (“GPM”) and a subsidiary of ARKO Corp.a Delaware company (“ARKO”), entered into an asset purchase agreement (the “Purchase Agreement”) with Transit Energy Group, LLCa Delaware limited liability company (“Transit”), certain of Transit’s affiliated entities (together with […]]]>

Section 1.01 Entering into a Material Definitive Agreement.

On September 9, 2022, GPM Investments, LLCa Delaware limited liability company (“GPM”) and a subsidiary of ARKO Corp.a Delaware company (“ARKO”), entered into an asset purchase agreement (the “Purchase Agreement”) with Transit Energy Group, LLCa Delaware limited liability company (“Transit”), certain of Transit’s affiliated entities (together with Transit, the “Seller”) and certain of GPM’s subsidiaries, including GPM Petroleum, LLCa Delaware limited liability company (these subsidiaries, together with GPM, “Buyer”). Pursuant to the Purchase Agreement, Buyer has agreed to purchase and assume, and Seller has agreed to sell and assign, subject to certain exceptions, the assets and certain liabilities constituting Seller’s business, including including (i) approximately 150 gas stations and retail stores, (ii) approximately 200 dealership sites, (iii) commercial, government and industrial enterprise, including certain bulk storage facilities, and (iv) certain semi- trailers, tank trailers and delivery trucks (collectively, the “Acquired Business”).

Pursuant to the Purchase Agreement, upon closing of the contemplated transactions (the “Closing”), Buyer will purchase from Seller, and Seller will sell to Buyer, subject to certain exceptions, all right, title and interest of the seller in the assets. comprising the Acquired Business, and Buyer will assume certain liabilities to Seller with respect to the Acquired Business (the “Transaction”). At closing, the buyer has agreed to pay the seller an aggregate cash consideration equal to $325.0 million plus the value of inventory at closing, as well as for certain deposits and assets that may be acquired prior to closing (such cash amount, the “Cash Consideration at the Closing Date”). In addition, on each of the first two anniversaries of Closing, Buyer will pay Seller an amount equal to $25.0 million (each an “Instalment Payment”), which the Buyer may elect to pay either in cash or, subject to satisfaction of certain conditions, in common stock of ARKO, $0.0001 par value per share (the “Payout Shares”). Pursuant to the Purchase Agreement, upon Closing, ARKO and Transit have agreed to enter into a Registration Rights Agreement, pursuant to which ARKO will agree to prepare and file a Registration Statement with the Security and Exchange Commissionregistering the payout shares, if any, for resale by Transit.

ARKO intends to finance from its own resources approximately $60.0 million cash consideration at the closing date plus the value of inventory and other closing adjustments, with the balance coming from Oak Street Real Estate Capital Net Lease Property Fund, LP (“Oak Street”) pursuant to the previously stated ARKO Reserve Real Estate Purchase, Designation and Lease Program Agreement, by and between Oak Street and GPM. Under this agreement, Oak Street or its affiliates have agreed to acquire fee simple ownership of 106 sites of the acquired business, which GPM or its affiliates will lease to Oak Street.

Completion of the Transaction is subject to customary conditions, including the absence of legal restrictions and the termination or expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as than modified. Each party’s obligation to consummate the transaction is also subject to the accuracy of the other parties’ representations and warranties (subject to certain exceptions) and the performance in all material respects of the other parties’ respective covenants under the contract. of purchase. Completion of the Transaction is not subject to a financing condition.

The purchase contract contains certain customary rescission rights for the buyer on the one hand and the seller on the other hand.

The foregoing description of the Purchase Agreement is a summary only and is qualified in its entirety by reference to the full text of the Purchase Agreement, which is filed as Schedule 2.1 to this Current Report on Form 8-K. and incorporated by reference herein.

The Purchase Agreement is being filed with this Current Report on Form 8-K to provide securityholders with information about its terms. It is not intended to provide any other factual information about ARKO, the buyer, the seller, the acquired company or any of the other parties to the purchase agreement. The representations, warranties and covenants contained in the Purchase Agreement are made solely for the purposes of this Agreement and as of specific dates, are for the benefit of the parties to the Purchase Agreement only, may be subject to any limitations agreed upon by the parties contracting parties, including being qualified by confidential disclosures made for the purpose of allocating contractual risk between the parties to the purchase contract rather than establishing such matters as fact, and may be subject to materiality standards applicable to the parties which differ from those applicable to holders of securities. Securityholders should not rely on any representations, warranties, and covenants or any description thereof as characterizing the true state of facts or condition of ARKO, the buyer, the seller, the company acquired or from one of the other parties to the purchase contract. In addition, information regarding the subject matter of representations and warranties may change after the date of the Purchase Agreement, which subsequent information may or may not be fully reflected in ARKO’s public disclosures, except to the extent required by law.

Item 3.02 Unrecorded Sales of Equity securities.

The information contained in Section 1.01 of this Current Report on Form 8-K is incorporated by reference into this Section 3.02. If issued pursuant to the Purchase Agreement, the number of Installment Shares issuable in respect of an Installment Payment would be equal to the dollar amount of such Installment Payment divided by the value of each Payout Share, which value would be equal to the daily volume-weighted average closing price of ARKO Common Shares on The Nasdaq stock market for a period consisting of ten consecutive trading days ending on the trading day immediately preceding the applicable anniversary of the closing date. ————————————————– —————————— The Payout Shares have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and ARKO has offered the Settlement Shares based on the registration exemptions contained in Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D promulgated thereunder. Transit told ARKO that it was an “accredited investor” as defined in Rule 501(a) of the Securities Act and that it was acquiring the Payout Shares (if and when issued pursuant to the Contract purchase) for investment purposes and not with a view to their distribution in violation of the Securities Act.

Section 7.01 Disclosure of FD Rules.

On September 12, 2022, ARKO issued a press release announcing the conclusion of the purchase agreement. A copy of the press release is provided as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in this Section 7.01.

The information contained in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is provided and shall not be considered “filed” for purposes of Section 18 of the Act. exchanges, or otherwise subject to the responsibilities of this Section and shall not be incorporated by reference in any filing under securities law or stock exchange law except to the extent expressly set forth in such filing.

Item 9.01 Financial statements and supporting documents.

(d) Exhibits.

Exhibit
Number    Description
2.1*        Asset Purchase Agreement, dated as of September 9, 2022, by and among
          GPM Investments, LLC, Transit Energy Group, LLC and the other parties
          thereto.
99.1        Press Release issued by ARKO Corp. on September 12, 2022.
104       Cover Page Interactive Data File (embedded within the Inline XBRL
          document)


* In accordance with Section 601(a)(5) of the SK Regulations, schedules and attachments similar to this exhibit have been omitted as they do not contain information material to an investment or voting decision and this information is not otherwise disclosed in this exhibit. ARKO will additionally provide a copy of any omitted program or similar attachment to the US Securities and Exchange Commission or its staff on request.

————————————————– ——————————

© Edgar Online, source Previews

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Have you seen the new Fuso TV33-400S 6×4 tractor unit? https://elktractors.com/have-you-seen-the-new-fuso-tv33-400s-6x4-tractor-unit/ Fri, 09 Sep 2022 14:30:54 +0000 https://elktractors.com/have-you-seen-the-new-fuso-tv33-400s-6x4-tractor-unit/ Fuso’s newest offering, the TV33-400S 6×4, offers a full load of industry-leading standard features for short and medium haul, distribution and construction. Additionally, it can be purchased together with a fully-fledged value chain offering that includes service and maintenance contracts and bespoke in-house financing solutions through Daimler Truck Financial Services (DTFS). Maretha Gerber, Vice President […]]]>

Fuso’s newest offering, the TV33-400S 6×4, offers a full load of industry-leading standard features for short and medium haul, distribution and construction.

Additionally, it can be purchased together with a fully-fledged value chain offering that includes service and maintenance contracts and bespoke in-house financing solutions through Daimler Truck Financial Services (DTFS).

Maretha Gerber, Vice President Sales and Marketing, Daimler Truck Southern Africa, said: “My heart bursts with pride as we enthusiastically welcome the newest addition to our Fuso family. I am proud to say that we have always been a brand that aligns with the business needs of its customers and our journey continues unabated. Southern Africa remains a priority market for Fuso Trucks, and today, with the launch of this new truck, we are confident that it will put us in a stronger position in all major segments. Going forward, our future product line will further strengthen our brand as our customers’ preferred business partner.

Improved energy efficiency and productivity

One of the key considerations for the all-new Fuso TV33-400S 6×4 tractor unit is maximum low-end torque, which provides the proper power and control to pull goods from a standstill, while providing the driver with enough torque. to maintain actual speed and optimize vehicle acceleration, contributing to significant fuel savings.

The new truck also comes standard with an automated manual transmission, a cutting-edge feature that continues to set the bar high in the industry, thanks to its positive impact on fuel consumption, vehicle performance, safety and driver comfort.

In addition, driving in the new model is also facilitated by an improved cruise control system and a speed limiter, which allow the driver to maintain a constant and fuel-efficient speed, thus reducing driver fatigue and accidents, especially when driving on open highways.

The all-new 6×4 tractor truck also offers commercial operators peace of mind as the vehicle is built on a heavy-duty hub reduction rear axle with a differential lock, to handle any type of task given to it to meet to a variety of business needs.


Enhanced Security Features

The truck is fully equipped with ABS air brake system and auxiliary exhaust brake, providing excellent support for safe driving.
In addition, the new vehicle has further improved safety through the cab design, as it proudly complies with the strictest ECE R29 version cab strength regulations which involve two cab tests – front impact , roof static strength and an optional impact test on the rear of the cabin. wall.

Aerodynamic cab, designed for tough conditions

The new model offers exceptional fuel economy thanks to its finely crafted aerodynamic cabin design with the aim of minimizing aerodynamic drag.
Visibility on the new truck has also been improved, thanks to the distinctive dual-chamber headlight with LED daytime running lights. LED daytime running lights increase presence on the road and improve safety.

All inspection and service points are easy to find and access, thanks to the front service hatch that ensures the vehicle is in peak operating condition and on the road it deserves.

The cabin interior is designed with the driver in mind. A prime example is the intelligent instrument cluster with multi-information display. This outstanding feature provides useful information such as coolant temperature, ambient temperature, engine hours, average speed, DTE fuel efficiency and speedometer.

Additionally, great attention has been paid to the details of the new vehicle in the sleeper cab, which has been designed to make drivers feel at home on the road, reduce driver fatigue and maximize productivity.

Exceptional service intervals and warranty tailored to your business

This includes engine oil changes at 50,000 km or 1,000 hours, coolant change at approximately 100,000 km or 12 months, transmission oil change at 150,000 km, oil change at 150,000 km differential and four-year or 300,000 km warranty.

Source: Motor Press

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Top Headlines: Vehicle Sales Up 8% in August; Fitch Confirms 4 NBFC Rating https://elktractors.com/top-headlines-vehicle-sales-up-8-in-august-fitch-confirms-4-nbfc-rating/ Thu, 08 Sep 2022 11:17:00 +0000 https://elktractors.com/top-headlines-vehicle-sales-up-8-in-august-fitch-confirms-4-nbfc-rating/ Fitch confirms 4 NBFC rating and maintains stable outlook for all Fitch affirmed its ratings for four non-bank financial companies – Shriram Transport Finance (“BB”), Muthoot Finance (“BB”), Manappuram Finance (“BB-“) and IIFL Finance (“B+”) — and maintained stable outlook. Fitch said “BB” for Shriram Transport Finance Ltd (STFC) reflects the company’s established […]]]>


Fitch confirms 4 NBFC rating and maintains stable outlook for all

Fitch affirmed its ratings for four non-bank financial companies – Shriram Transport Finance (“BB”), Muthoot Finance (“BB”), Manappuram Finance (“BB-“) and IIFL Finance (“B+”) — and maintained stable outlook.

Fitch said “BB” for Shriram Transport Finance Ltd (STFC) reflects the company’s established franchise in used commercial vehicle (CV) finance, a seasoned management team, established risk controls and buffers adequate capital and balance sheet. Read more


Rupee rises 23 paise to close at 79.72 against the dollar amid falling crude prices

The rupee appreciated 23 paise to close at 79.72 (provisional) against the US dollar on Thursday amid falling crude oil prices and a firm trend in domestic equities.

On the interbank forex market, the local unit opened at 79.72 against the greenback. Read more


Monetary policy is not the only tool to manage inflation: Sitharaman

Inflation management in India encompasses many processes outside of monetary policy. Therefore, to effectively manage inflation, monetary and fiscal policies must work in parallel, Union Finance Minister Nirmala Sitharaman said on Thursday.

“Inflation management in India is an exercise of so many different activities, the majority of which are outside of monetary policy, even in the current circumstances,” Sitharaman said at an event hosted by the Indian Council. for research on international economic relations (ICRIER). Read more


Vehicle sales up 8% in August, two-wheelers a concern: FADA

India’s retail vehicle sales across all categories rose 8.31% year-on-year in August, the Federation of Automobile Dealers Associations (FADA) said on Thursday as it reported that business “was not not encouraging” at the beginning of the festivals.

Sales of two-wheelers increased by 8.5% and those of three-wheelers by 8.3% in August. Sales of passenger vehicles and commercial vehicles increased by 6.5% and 24%. Tractor sales fell 32%. Read more

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Swaraj Tractors Passes 20 Lakh Production Milestone | India is blooming https://elktractors.com/swaraj-tractors-passes-20-lakh-production-milestone-india-is-blooming/ Tue, 06 Sep 2022 19:02:20 +0000 https://elktractors.com/swaraj-tractors-passes-20-lakh-production-milestone-india-is-blooming/ Mohali: Swaraj Tractors, part of the Mahindra Group, rolled out its 20th Lakh tractor from the company’s factory in Mohali, Punjab on Tuesday. The company said the milestone demonstrated customers’ confidence in the Swaraj brand. Swaraj Division, M&M Ltd CEO Harish Chavan rolled out the 20th lakh tractor in a special ceremony attended by employees. […]]]>

Mohali: Swaraj Tractors, part of the Mahindra Group, rolled out its 20th Lakh tractor from the company’s factory in Mohali, Punjab on Tuesday.

The company said the milestone demonstrated customers’ confidence in the Swaraj brand.

Swaraj Division, M&M Ltd CEO Harish Chavan rolled out the 20th lakh tractor in a special ceremony attended by employees.

Speaking on the occasion, he said, “This achievement has enhanced the reputation of the Swaraj brand as a reliable brand and one of the fastest growing brands in the domestic tractor market over the past few years. . We are grateful to all of our customers and stakeholders for their wholehearted support in the growth of this brand. »

Since its inception in 1974, the first milestone of 10 lakh tractor production was achieved in 2013.

“Now, in just nine years, we have achieved the production of 20 Lakh tractors in 2022, which is a testament to the faster growth of the Swaraj brand. What makes this achievement more remarkable is the fact that this has happened as the industry has been going through unforeseen challenges due to the pandemic over the past two years,” the company said in a statement.

Chairman of Agricultural Equipment Sector, M&M Ltd, Mr. Hemant Sikka said, “This journey to reach the 20 Lakh production mark today has been challenging and exciting for us. We are happy that over the years Swaraj has been able to make a significant contribution to the lives of Indian farmers.

“In the future, we look forward to providing more agriculture-based solutions and enabling mechanization. This achievement is another stepping stone towards achieving our goal of transforming agriculture and enriching lives.

Swaraj manufactures tractors in the range of 15 HP to 65 HP and provides complete mechanization solutions.

The company recently launched CODE, a versatile agricultural machine.

Currently, Swaraj has two fully functional tractor manufacturing plants, its own foundry and R&D, all located in Punjab, while another new Swaraj manufacturing plant is also in the process of springing up in the state.

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One of the biggest strikes in US history is brewing at UPS https://elktractors.com/one-of-the-biggest-strikes-in-us-history-is-brewing-at-ups/ Mon, 05 Sep 2022 14:26:31 +0000 https://elktractors.com/one-of-the-biggest-strikes-in-us-history-is-brewing-at-ups/ Contract negotiations are expected to begin in the spring between UPS and the Teamsters union before their current contract expires at the end of July 2023. Over the past year, nascent labor movements in powerful corporations like Starbucks and Amazon captured national attention. But less well known is a looming clash between one of America’s […]]]>

Contract negotiations are expected to begin in the spring between UPS and the Teamsters union before their current contract expires at the end of July 2023.

Over the past year, nascent labor movements in powerful corporations like Starbucks and Amazon captured national attention. But less well known is a looming clash between one of America’s oldest unions and the world’s largest parcel carrier.

Contract negotiations are expected to begin in the spring between UPS and the Teamsters Union before their current contract expires at the end of July 2023. Already, before talks even begin, labor experts are predicting that drivers and package handlers will leave in strike.

“The question is how long will it take,” said Todd Vachon, a Rutgers labor relations professor. “The union president came forward and won by taking a more militant approach. Even though they are very close [to a deal]the base will be thirsty to face the company.

If that happened, a strike at UPS would affect almost every household in the country. It is estimated that 6% of the country’s gross domestic product is transported in UPS trucks each year. The explosive growth of online retail has made the company and its drivers more crucial than ever to the country’s struggling supply chain. Beyond the company’s home deliveries, it also delivers many products found in stores, factories and offices.

About 350,000 Teamsters work at UPS as package drivers and sorters out of a global workforce of 534,000 permanent employees. And that’s growing fast — the company has added some 72,000 Teamster-represented jobs since the pandemic began.

Although there are competing services at FedEx, the US Postal Service and Amazon’s own delivery service, none of them have the capacity to handle more than a small fraction of the 21.5 million packages. ships that UPS transports daily.

“We want a contract that provides benefits to our employees and provides UPS with the flexibility to stay competitive in a rapidly changing industry,” the company said in a statement this month. “UPS and the Teamsters have worked together for nearly 100 years to meet the needs of UPS employees, customers and the communities where we live and work. We believe we will continue to find common ground with the Teamsters and reach an agreement that is good for everyone involved.

The union has not struck against UPS for almost two-week protest in 1997. If the union went on strike, it would be the largest strike against a single company in the country’s history.

Anger over current contract

There are certainly signs of strain in the relationship between the company and the union, both its leadership and its rank and file members.

A majority of members voted against ratifying the current contract in 2018, only to see the former Teamster leadership, led by then President James Hoffaput it in place because not enough members participated in the ratification vote to call a strike.

The new president of the union, Sean O’Brienwon his job earlier this year by making the The UPS contract at the center of its campaign. He has pledged to make UPS pay Teamster members a lot more this time around and he often talks about a $300 million strike fund the union has built up to pay members in case they get into trouble. strike.

“Do our members wake up every day wanting to go on strike? I would say no. But are they fed up? Yeah, they’re fed up,” O’Brien told CNN Business last week. “Whether or not there is a strike is entirely up to the company. We will use as much leverage as possible to give our members the contract they deserve.

UPS said the average salary for its delivery drivers is $95,000 a year, with benefits such as a traditional pension plan worth an additional $50,000 a year. UPS tractor-trailer drivers get paid even more. That’s far more than most salaries at FedEx and Amazon, where many drivers work for small independent contractors.

The current contract expires at 00:01 on August 1. O’Brien swears that the union will not grant any kind of contract extension beyond this deadline.

And he added that in addition to improved wages and benefits, the union will demand better working conditions, including the addition of air conditioning in panel trucks used for UPS deliveries, which the union says poses a risk for the health of drivers.

“It’s not a big burden for the company to install air conditioning,” he said. “There’s a lot of heat stroke going on.”

Record profits at UPS

The company often talks about the value it places on its Teamster-represented workforce.

And in one important way — the jobs numbers — UPS is one of workers’ best friends in the executive ranks of American companies, despite the obvious tensions. UPS is one of the few unionized employers to significantly increase payroll and union membership. In other companies, the number of union members has been in constant decline for decades.

The increase in Teamsters jobs at UPS is due to the steady growth of online shopping, especially during the pandemic-era surge. Last year it took just nine months to report what was already a record full-year profit. UPS ended 2021 with operating income up 50% to $13.1 billion. In the first half of this year, profits were up another 10% from a year ago.

“Everyone keeps getting richer except our members,” O’Brien said.

UPS CEO Carol Tome, who started this job at the start of the pandemic, says the company’s union contract is a competitive advantage in a time of labor shortages.

She also tries to assure both investors and UPS customers that the company will be prepared in the event the union goes on strike. She declined to comment on what those preparations are.

“Our goal with the Teamsters is win-win-win,” she told investors in July. But she added that UPS was “building contingency plans.”

The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a Warner Bros. Company. Discovery. All rights reserved.

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Calgary Sikhs plan motorcycle rally in Sundre in goodwill gesture after float controversy https://elktractors.com/calgary-sikhs-plan-motorcycle-rally-in-sundre-in-goodwill-gesture-after-float-controversy/ Sat, 03 Sep 2022 11:00:00 +0000 https://elktractors.com/calgary-sikhs-plan-motorcycle-rally-in-sundre-in-goodwill-gesture-after-float-controversy/ WARNING: This story contains images that readers may find shocking and offensive. Members of Alberta’s Sikh community will flock to the town of Sundre this month in what they call a gesture of goodwill after a widely criticized float appeared during the weekend’s parade. end of the city’s rodeo earlier this summer. “We would like […]]]>

WARNING: This story contains images that readers may find shocking and offensive.


Members of Alberta’s Sikh community will flock to the town of Sundre this month in what they call a gesture of goodwill after a widely criticized float appeared during the weekend’s parade. end of the city’s rodeo earlier this summer.

“We would like to send a message of unity and peace,” said Amanpreet Singh Gill, president of Dashmesh Culture Centre, a Sikh temple in northeast Calgary.

“An unfortunate event happened in Sundre which portrayed a Sikh individual in a way that was not appropriate,” Gill added. “Our community was very disappointed to see the exhibit and it hurt our community.”

More than 100 Sikh and other motorcyclists will ride 120 kilometers northwest of Calgary on September 10 to make a gesture of goodwill by donating to the local food bank and religious organizations.

“This is a great opportunity for our community and the City of Sundre to come together and show people, regardless of their faith, background and beliefs, that we can work together to make the world a better place,” said Gill said.

The ride comes in response to a float that appeared during a parade through the city in June.

The float featured a white man, wearing a fake beard and turban, who sat on a manure spreader with the words ‘The Liberal’ written on the side, supposedly depicting NDP leader Jagmeet Singh.

It was pulled by a tractor with another man wearing a rubber mask, representing Prime Minister Justin Trudeau.

Organizers said the float was never allowed to participate in the parade.

Videos on social media showed some in the crowd cheering and applauding the float and others took to social media to register their support, calling it political satire.

But the float has also been widely criticized as racist, including by Jason Nixon, Alberta Finance Minister and UCP MP for Rimbey-Rocky Mountain House-Sundre, and George Chahal, Liberal MP for Calgary Skyview.

Gill says while some supported the float, many others in the city supported the Sikh community following the parade, reaching out with calls and emails. He says the Sikh community wants to do something positive for the city in return.

Gill says they will meet with local politicians and community leaders in the city, including the city’s mayor, Richard Warnock.

“The RCMP detachment commander contacted our administration to advise of this event and we spoke to his organizer,” Warnock said.

“They’re going to have a pretty big event and we thought it was a good idea. It’s really their gesture of friendship,” he said.

“I don’t see any negativity. Let them come and it will be great,” Warnock said.

Gill says the motorcycle ride will become an annual event.

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Tractor Supply (TSCO) is one of the highest ranked growth stocks: should you buy? https://elktractors.com/tractor-supply-tsco-is-one-of-the-highest-ranked-growth-stocks-should-you-buy/ Thu, 01 Sep 2022 13:45:01 +0000 https://elktractors.com/tractor-supply-tsco-is-one-of-the-highest-ranked-growth-stocks-should-you-buy/ Regardless of your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Achieving these goals is easier with Zacks Style Scores, a unique set of guidelines that rate stocks based on popular investment methodologies, namely value, growth and momentum. Style scores can help you […]]]>

Regardless of your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving these goals is easier with Zacks Style Scores, a unique set of guidelines that rate stocks based on popular investment methodologies, namely value, growth and momentum. Style scores can help you determine which stocks are the best fit for your portfolio and which can beat the market over the long term.

Why This Growth Stock 1 Should Be On Your Watchlist

For growth investors, a company’s financial strength, overall health and future prospects are paramount, so they will want to focus on the growth style score. This score looks at things like forecast and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

Supply of Tractors (TSCO)

Based in Brentwood, TN, Tractor Supply Company is the largest farm and ranch retail chain in the United States. The company focuses on recreational farmers and ranchers as well as traders and small businesses. It offers a wide range of merchandise such as livestock, pet and animal products, agricultural and rural maintenance products, hardware and tools, electrical lawn and garden equipment, truck and towing products and workwear.

TSCO sits at Zacks rank No. 3 (Hold), holds a Growth Style score of A and a VGM score of A. Earnings and sales are expected to grow 11.3% and 10.7% respectively from a year to year.

Seven analysts raised their earnings estimate in the past 60 days for fiscal 2022. Zacks’ consensus estimate rose $0.06 to $9.58 per share. TSCO posts an average earnings surprise of 10.2%.

Tractor Supply is also cash-rich. The company generated cash flow growth of 16.9% and is expected to record a cash flow increase of 23.8% in 2022.

TSCO should be on investor shortlists because of its impressive growth fundamentals, strong Zacks rankings, and strong VGM growth and style scores.

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Tractor Supply Company (TSCO): Free Inventory Analysis Report

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