Hertz Equipment Rental Corp. recently began operations in Shanghai, China, the company said last week. HERC is beginning with an initial product line of aerial lifts, air compressors and generators, and plans to expand to include cranes, excavators, rollers and wheel loaders.
“HERC has a strong growth agenda with a focus on geographic expansion,” said Mark Frissora, chairman and CEO for Hertz Corp. “The equipment rental market in China is in its infancy and with an established presence there, HERC will be able to capitalize upon the growth of the Chinese marketplace over the coming years.”
“Operating in China is critical to Hertz’s overall strategy as it enables us to continue our geographical expansion while tapping into our diverse product line to service many of the growing industries in China, including the manufacturing, shipbuilding, industrial and construction markets,” added HERC president Gerry Plescia.
HERC Asia targets multinational companies already familiar with the rental concept as well as large Chinese contractors and state-owned enterprises such as shipyards, refineries, highway construction and mining. Operating as its own foreign-owned enterprise with a national rental license, HERC seeks to work with local Chinese partners and to identify potential regions within the within the country for Greenfield expansion.
HERC, based in Park Ridge, N.J., is No. 3 on the RER 100 and has more than 375 branches in the United States, Canada, France and Spain.