Hertz Equipment Rental Corporation Adds Iraq Franchise
ESTERO, Florida, Oct. 22, 2015 /PRNewswire/ -- Hertz Global Holdings (NYSE: HTZ) has announced that Hertz Equipment Rental Corporation (HERC) has entered into a franchise agreement with the Khudairi Group for the exclusive license to provide rental equipment in Iraq using the "Hertz Equipment" brand and proprietary system. This move will significantly add to HERC's existing network in the Middle East, with HERC Iraq offering one of the largest light-to-medium equipment fleets in the country, serving oil and gas, construction, industrial, and government customers through a branch network that will include locations in Erbil, Baghdad, Basra, and Sulaimani.
"This agreement reflects our long-term global-business strategy to license franchises, establish joint ventures and, where appropriate, open company-owned branches in emerging and growth markets where the equipment-rental model is poised for continuing expansion," said Larry H. Silber, President and Chief Executive Officer, HERC. "We are especially pleased to partner with the Khudairi Group, which is one of Iraq's most prominent commercial organizations and brings more than one hundred years of demonstrated success to the HERC Iraq franchise."
"HERC Iraq is well positioned to support the country's ongoing development, with oil-related and industrial projects, commercial construction and infrastructure work underpinning Iraq's revitalization," said Jay Early, International Vice President, HERC. "The Khudairi Group's experience working with firms engaged in engineering, procurement and construction (EPC), oilfield supply and service, and heavy machinery position HERC Iraq for immediate success. In addition, HERC Iraq's access to a multitude of clients across all sectors throughout Iraq create a solid platform for long-term growth.
"Our success in Saudi Arabia, our recent expansion into Qatar and our franchise in Iraq reflect our confidence in the ongoing development of key markets in the Middle East. With one of the largest and most diverse equipment line-ups in the industry, we are excited to play a role in the development of the region's important public and private projects."
President of the Khudairi Group, Subhi Khudairi, said: "Our experience and expertise across the oilfield, construction, industrial and government sectors enables us to understand and meet customer requirements in these demanding markets. We are committed to providing best-in-class equipment backed with superior service and support with a highly trained and professional team across our locations."
HERC Iraq will offer for rent a diverse range of earthmoving, power, aerial, material handling, electrical and compressed-air equipment, beginning January 2016.
About the Khudairi Group
Merging top quality international standards of performance and execution with more than one hundred years of history as one of Iraq's most prominent commercial families, the Khudairi Group (KG) is a leading provider of solutions to the oil and gas, construction, and FMCG industries in Iraq. More information about Khudairi Group can be found at www.khudairigroup.com.
About Hertz Equipment Rental Corporation
Hertz Equipment Rental Corporation (www.hertzequip.com) – a wholly owned subsidiary of The Hertz Corporation since 1965 - operates one of the world's largest equipment rental businesses, offering a diverse line of equipment and tools for rent and sale. Products include aerial lifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling equipment, pumps, and trucks and trailers. Hertz Equipment also offers programs and equipment through its customer programs for Aerial, Energy, Entertainment, Government, HERC360 Fleet Management, Industrial Plants, National Accounts and Safety. With approximately 330 locations in the United States, Canada, China, France, Spain, Saudi Arabia and Qatar as well as through international licensees, Hertz Equipment Rental offers daily, weekly, monthly and long-term rentals, tools and supplies, as well as new and used equipment for sale.
About Hertz Global Holdings
Hertz Global Holdings operates the Hertz, Dollar, Thrifty and Firefly car rental brands in more than 10,300 corporate and licensee locations throughout approximately 145 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz Global Holdings is the largest worldwide airport general use car rental company with more than 1,600 airport locations in the U.S. and more than 1,300 airport locations internationally. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, Carfirmations, Mobile Wi-Fi and unique vehicles offered through the Adrenaline, Dream, Green and Prestige Collections set Hertz apart from the competition. Additionally, Hertz Global Holdings owns the vehicle leasing and fleet management leader Donlen Corporation, operates the Hertz 24/7 hourly car rental business and sells vehicles through its Rent2Buy program. The Company also owns Hertz Equipment Rental Corporation ("HERC"), one of the largest equipment rental businesses with more than 330 locations worldwide offering a diverse line of equipment and tools for rent and sale. HERC primarily serves the construction, industrial, oil, gas, entertainment and government sectors. For more information about Hertz Global Holdings, visit: www.hertz.com.
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