General de Alquiler de Maquinaria, Spain’s largest equipment rental company, last week signed an agreement with ETE, a Saudi Arabian firm, to develop a joint sales and rental effort in Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait, Oman and Iraq. GAM said the region is on a fast growth pace and will require significant infrastructure and industrial development in the coming years.
GAM is on a fast international growth track. The company began operations in Eastern Europe (Romania and Bulgaria) in 2007, and in Poland in 2008. The company also has operations in Portugal, Mexico and Brazil.
ETE, which has annual revenue of more than $250 million, is a construction company, also involved in businesses related to transportation, steel, aluminum, cement and others.
