CONTENTS

• AGCO SIGNS LETTER OF INTENT WITH RUSSIAN MANUFACTURER
• CRAMO EXPANDS ITS BUSINESS IN FINLAND
• EUROPEAN AGRICULTURAL TRACTOR MARKET IMPROVES IN 2004
• FRENCH RENTAL COMPANIES PROSPER IN 2004
• HBM-NOBAS EXPANDS GRADER PRODUCTION
• KOBELCO PLANS ALL TERRAIN CRANE LAUNCH
• LOXAM ACQUIRES IRELAND ACCESS
• MICHELIN BUILDS NEW TYRE FACTORY IN BRAZIL
• RAMIRENT ACQUIRES HYRGRUPPEN IN SWEDEN
• SMOPYC FAIR IN SPAIN WINS PLAUDITS

• FINANCIAL RESULTS
  • FIRST QUARTER
    • CATERPILLAR – USA
    • CUMMINS – USA
    • INGERSOLL-RAND – USA
  • ANNUAL
    • DEUTZ – GERMANY
    • MANITOU – FRANCE
    • SAME DEUTZ-FAHR GROUP – ITALY