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AMECO opens permanent office in Peru
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 executives invest in share ownership scheme
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.
Ramirent says wait for 2011 for return to growth
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 to raise €115 with rights issue
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.
Result Group and Hitachi Consulting form alliance
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 bond issue raises €50m
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 honours top US rental franchises
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.
Market decline presents opportunities says United Rentals' CEO
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 in North America expands services for rental companies
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.
KDM Hire launches temperature control division
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 embarks on major reorganisation
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 lays off 4000 more staff worldwide
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.
MCS opens Middle East office
Rental software developer MCS will open a business, MCS Middle East, in Bahrain to serve the Middle East. The initiative expands the UK-based company's overseas presence to nine offices.
Manitou's Bruno Fille spells out Gehl plans
Manitou executive vice president Bruno Fille said the priority for its newly acquired Gehl business was to expand its sales internationally through the Manitou network. A second "key goal" is increased sales of Manitou telehandlers into the US agriculture sector through Gehl's distribution network.
Changes at Red Rhino as owner takes control
Red Rhino's principal owner Bryan Eccles has reorganised the company after it entered bankruptcy on 20 October. Mr Eccles formed a new company, Recycling Products Limited, to buy the assets of the mobile crushing specialist and said Red Rhino was running normally.
Renters in France discuss ‘crisis’ response
French rental companies are cutting costs and preparing for a difficult 2009, although most of the larger players have so far held back from closing significant numbers of depots, preferring instead to postpone expansion plans and cut back on capital investment.
Users paying price for UK equipment theft
"There are seven winners in construction equipment theft and only one loser -- the contractor," said Ian Fletcher, director, Bridle Plant Insurance, a broker specialising in construction risk in the UK. "We put up the [insurance] premium; you pay for it."
2010 recovery for UK tool rental
Demand for tools and equipment rental in the UK will recover in 2010, according to a report by research company MTW Research. The company said the rental industry is likely to increase spending on tools and equipment in 2010 to meet a rise in demand later in the year and continuing into 2011.
A-Plant wins lucrative Skanska contract
UK construction company Skanska has awarded A-Plant a two-year contract for the rental of tools and equipment. A-Plant said the deal could generate £5 million (€6.2 million) worth of business each year.
Hertz increases rental prices by up to 10%
Hertz said its equipment rental business will increasing its short term rental rates by 10%, with a 5% increase on long term deals. The company reported similar increases in its prices for car rentals. Hertz said pre-negotiated contract rates would not be affected by the increases.
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