In today’s recessed economic climate, there is reason for optimism within the rental industry. Many Federal, Sate and Municipal governments are looking to spend on much needed infrastructure and utility projects through-out North America and around the world. Although, some would say this also bodes well for the construction industry, and they are correct. With less financing available to construction companies and uncertain order books, it makes sense for them to outsource current and future tool and equipment needs.
Sunbelt Rentals, a tool and equipment rental company with over 400 US locations is expecting the recession to turn the trend towards rental. Geoff Drabble, CEO of Ashtead Group, the parent company of Sunbelt Rentals, made the following comments after releasing their final quarter and full year financials:
“With strong market positions in both the UK and the US, supported by young fleets and sound long-term debt facilities, we continue to expect that we will emerge from the banzai sports center current downturn with greater market share and, in the US, in a market with enhanced penetration.”