Brazil’s Mills to Buy $71 Million Worth of Aerial Equipment for Rental Division

Oct. 31, 2012
Brazil’s largest equipment rental company Mills Estruturas e Serviços de Engenharia S.A. said it has reached an agreement to buy U.S. $71 million worth of motorized access equipment for its rental division.

Brazil’s largest equipment rental company Mills Estruturas e Serviços de Engenharia S.A. said it has reached an agreement to buy U.S. $71 million worth of motorized access equipment for its rental division. Monthly deliveries will begin by the end of this year.

To protect its investment from fluctuations in the exchange rate, Mills has entered into a hedge contract worth about R$147 million (about U.S. $72.4 million).

Mills is headquartered in São Paulo.