All General Articles
Netherlands rental company Boels is adopting an expansionary strategy during the recession, with 17 new depot openings planned during 2009.
UK equipment rental company Hire Station is using the growth of its online rental business with erento to help it establish its ‘white label’ rental activities through the websites of major UK retail and online brands.
Terex has agreed to pay a US$ 8 million fine to the US Securities and Exchange Commission (SEC) relating to several cases of accounting fraud between 2000 and 2004.
Copies of International Cranes and Specialized Transport magazine's IC50 2009 and IC50 five year reports can now be bought online at KHL's new Information Store
Sunbelt Rentals in the US has developed a rental sales application for Apple's iPhone and has equipped 1200 of its sales staff and field personnel with the tool.
Two US rental veterans have launched a price comparison website for equipment rental. RentalHawk.com, based in Los Angeles, California, has been created by Robert Gray, a former United Rentals sales representative, and Mark Richter, a more experienced rental figure with a track record including Briggs Equipment, Diamondback Rentals and United Rentals.
Speedy Hire is moving into the Middle East rental market through an alliance with Al-Futtaim Carillion (AFC), the Dubai-based joint venture between UK contractor Carillion and local industrial group Al-Futtaim.
Speedy Hire has successfully completed its new rights issue, raising around £100 million (€115 million).
AMECO, the equipment rental division of Fluor Corp, has established a permanent office in Peru three years after first entering the South American market. The business is a partnership with local partner Choice Cargo, a Peruvian transport and logistics company, and is being operated under the name Choice Equipos y Servicios, based in Lima.
Cramo’s three senior executives are together acquiring €2.5 million worth of shares in Cramo – equivalent to around 1% of its current market capitalisation - investing €0.5 million of their own money and receiving a €2 million loan from Cramo for the remainder of the shares.
It could be 2011 before Ramirent is able to enter a new growth phase following the current downturn, said the company’s chief executive officer, Magnus Rosén.
Speedy Hire in the UK has announced a fully underwritten rights issue to raise approximately £100 million (€115 million) through the issuing of 458.6 million shares at £0.23 (€0.26), equivalent to an 86% discount on the £1.76 (€2.02) closing price on 27 May.
Hitachi Consulting, the consulting and IT division of Hitachi Ltd, has formed an alliance with Result Group, the UK-based rental software firm. The two, who have been working together for several years, will cooperate on marketing and implementing the Result Group software, rentalresult.
Cramo is raising €50 million by issuing ‘hybrid capital bonds’, with the funds being used to reduce its interest-bearing debt. The bonds have been bought by Finnish investors, said the company on 15 April.
Volvo Rents, the rental arm of Volvo Construction Equipment, named franchise holder Paul Bullock and family in the US as its 2008 Franchise of the Year. It is the third year in a row that the Louisiana family has won the honour.
United Rentals’ chief executive officer Michael Kneeland said the slowdown in the company’s North American markets that began in the final quarter of 2008 had continued into the first three months of this year, and that the bottom of the recession had yet to be reached.
New Holland Construction in North America is expanding the range of services it provides to rental companies under a new Rental Partner Program. The program will see dealers target rental companies of all sizes with a variety of finance options, including retail contracts and leasing options.
Northern Ireland rental company KDM Hire has launched a new temperature control rental division called K Therm, specialising in renting heaters, dryers and cooling equipment.
Speedy Hire in the UK has embarked on a major reorganisation to adapt to changing market conditions and dynamics, including the elimination of its product specific divisions and a refocusing on business with major accounts.
Hertz Global Holdings owner of Hertz car rental and Hertz Equipment Rentals Co (HERC), said it will lay-off more than 4000 employees during the final quarter of 2008 and the first quarter of this year.