Follow us on Twitter Follow us on LinkedIn Follow us on Instagram
Daily construction news
Weekly equipment news

Construction News

Thu September 20 2018

Related Information
Related Information

News » US » Hitachi takes stake in Acme re-rental business » published 29 Aug 2018

Hitachi takes stake in Acme re-rental business

Hitachi Construction Machinery (HCM) has acquired 33% of the equity of Acme Lift Co in a deal that will also expand the range that Acme offers to rental companies.

The new joint venture will add HCM earthmoving equipment to Acme’s fleet, which will be made available through Acme’s re-rental operations to equipment rental companies across North America.  HCM intends to expand Acme’s earthmoving equipment re-rental business and provide overall business support.

In conjunction with HCM’s equity investment, Acme has carried out restructuring to provide liquidity to fund its future fleet growth and expansion plans.

“Acme’s rental customer base has been increasingly requesting both wheel loaders and excavators on a re-rental basis,” said Woody Weld, Acme chairman and chief executive officer. “This new partnership with Hitachi Construction Machinery will allow every retail construction equipment rental company in the North American marketplace to have access to a full range of well-proven and highly regarded Hitachi earthmoving products.”

“Acme brings to the venture unique expertise in re-rental of various equipment product classes,” said Yasushi Ochiai, executive vice president in charge of international business for HCM. “Joining forces with Acme furthers HCM’s strategy to strengthen its value chain business.”

Acme will create regional support centers for its equipment rental fleet, serving all the major market areas in North America. Once this operational footprint is established, Acme intends to serve its customers’ re-rental requirements from a local rather than national supply base.  

 

Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Equipment News, & Contract News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 29 Aug 2018 (last updated on 29 Aug 2018).

More News Channels