United Rentals announced today that it has agreed to form a joint venture with Fluor Corp.'s AMECO unit to offer comprehensive equipment and tool solutions for ongoing plant maintenance and turnaround activities initially supporting the oil and gas industry in the Gulf Coast region of the U.S.
Michael Kneeland, CEO of United Rentals said, “We are excited to join with AMECO to offer more inclusive solutions to customers and create opportunities that may not otherwise exist. This partnership allows both companies to expand their presence in the energy market while remaining focused on our core competencies. For our customers, an integrated source of supply means greater productivity.”
Kneeland told RER that United Rentals has worked with AMECO in the past and that the synergy of United Rentals’ large fleet and branch network combined with AMECO’s site services and fleet management capability will expand the ability of each company to add more value to their industrial customers.
“AMECO's expertise in providing project tools and site services, coupled with a world class safety culture is a complementary fit with United Rentals' significant rental fleet infrastructure and technology capabilities,” said Gary Bernardez, president of AMECO. “The combined resources of the two companies will provide a seamless, one-stop shop for oil and gas customers at their project sites throughout the Gulf Coast region.”
The AMECO and United Rentals joint venture plans to provide full turnkey services and comprehensive offerings along with an industry-leading safety program. It will offer customized solutions based on customers' needs with the ability to scale to appropriate levels quickly and nimbly. United Rentals has the largest fleet and geographic coverage for equipment rental in the U.S.
AMECO's in-house tool and maintenance expertise together with its site management services expertise will provide additional value to customers during turnarounds, shutdowns and sustaining operations.
“AMECO also has a wide range of tools and services,” added Kneeland. “AMECO has learned very well over the years how to listen to its customers and respond to their needs."
Kneeland said the two companies are creating a separate company between the two that will be focused on this project, with a management team featuring people from both companies.
“We’re putting the structure in place and we’ll be very flexible about how we scale this up,” Kneeland added. “We’ll be beginning the project in the Gulf region and both companies are committed to growth. I’m a firm believer in doing something well and moving forward with it.”
Based in Greenwich, Conn., United Rentals is No. 1 on the RER 100. AMECO, No. 13, is based in Greenville, S.C.
