GAM celebrates 10th anniversary

Spanish rental company General de Alquiler de Maquinaria (GAM) celebrated its 10^th anniversary with a special event in December attended by 500 guests and the launch of a book, The Danger of Success.

The company was founded in Oviedo in 2003 by current president Pedro Luis Fernández. GAM grew rapidly in the boom years before 2008 and since then has retrenched in Spain and established rental operations in 13 countries in eastern Europe, South America and the Middle East.

Mr Fernández said the GAM story was one of “successes and mistakes that have allowed us to evolve in the way we manage the business and survive despite the extremely unfavourable environment that ensued in 2008 in Spain.

“We have suffered much, but we have remained unchanged from the values we all along uphold: the search of a greater value proposition for our customers and all those who are involved in the project, the honesty, and the courage to make decisions, many of which are difficult, to fulfil this dream called GAM. These values make it possible for ordinary people like us are doing extraordinary things."

The company launched its international strategy in 2007, establishing activities in Romania and Bulgaria and then in 2008 in Poland and its first South American office in Mexico.

The project intensified in 2009 with GAM opening up in Panama, Peru, Brazil and Saudi Arabia. Chile, Columbia and Morocco were added in 2010 and most recently GAM has started renting machines in the Dominican Republic.

GAM is also celebrating the 6^th anniversary of operations in Eastern Europe, where it now has two branches in Romania, two in Bulgaria and seven in Poland. It employs 100 people in the three countries and operates a rental fleet valued at €25 million.

Victor Riesgo, director of Eastern Europe, said GAM was now one of the major rental players in the region and that the region represented an opportunity to build a solid and stable business.

“These countries, especially Poland, have good conditions [for] sustained growth", said Mr Riesgo, "We must take into account that these countries are recipients of funds, and enjoy a strategic location to create potential synergies to extend our operations to neighbouring countries."

Meanwhile, in Spain last year the company opened ‘sales’ stores in Oviedo and Pedreguer, where customers can buy tools, spares, new, used or ‘single-use’ equipment.

The special 10^th anniversary book, El peligro del éxito (The Danger of Success), was written by Pepe Monteserín and describes the history of the company.