Mills Estruturas e Serviços de Engenharia S.A., generally known as Mills Rentals, said that it has revised upward its 2013 capex budget for rental equipment from R$296 million to R$481 million (about U.S. $224.6 million) because of attractive opportunities in its markets. Mills also said it plans to accelerate its geographic expansion with 12 new branch openings in 2013, as compared to its previous plan for five new branch openings.
The company increased its capex budget in the heavy construction rental business segment by R$35 million, including Alumills aluminum shoring and the SM Mills modular system, to increase productivity gains on construction sites.
The R$150 million increase in the capex budget also takes into account strong demand in its existing branch network, Mills officials said.
Mills is headquartered in Rio de Janeiro.
