Hertz Equipment Rental Corp. has expanded to Panama amid major industrial projects in the country, including the Panama Canal expansion, Panama metro line development, and road and highway construction. HERC Panama is operated by Asesoria Especializada RAL S.A., which joined the HERC global franchise network in 2013.
Other major projects in Panama include the Cold Chain distribution network (farming), airport expansion, distribution, mining, water supply, hospital and housing development and energy services. The government of Panama is investing an estimated $15 to $20 billion in these and other projects during the next three to five years, according to export.gov/panama.
"This significant launch provides the market with a first class, value-added equipment rental supplier in Panama," said Brian MacDonald, interim CEO, Hertz. "In addition, it enables Hertz Equipment Rental Corporation to extend its international footprint into one of the fastest growing markets within Latin America. Our valued franchise agreement is part of our global strategy to grow our business efficiently through carefully selected partnerships with leading local operators who bring strong market expertise, resources and complementary commercial strategies."
HERC Panama is based in Panama City (Ciudad de Panama). HERC, No. 3 on the RER 100, has about 360 locations in the United States, Canada, China, France, Spain and Saudi Arabia as well as through international licensees.
