The shareholders of CERF Inc. (Canadian Equipment Rental Fund) have voted to change the name of the company to Canadian Equipment Rentals Corp. at the company’s annual and special meeting. The name change reflects the rebranding efforts recently initiated by management and the corporate strategy approved by the board of directors.
The company has recently expanded its rental offerings into new market segments including large industrial projects. The strategy will create more market diversification for the company and generate synergies between the various operating divisions of the company, officials said.
CERC also announced that during the second quarter it has successfully sold various pieces of under-utilized rental equipment from both its Energy Services and General Rentals divisions for about $3.2 million. The funds generated will be used to pay down debt and for general corporate purposes.
The newly renamed Canadian Equipment Rental Corp. has three operating divisions: Energy Services, General Rentals and Waste Management. The Energy Services division is engaged in the rental of surface equipment, downhole equipment and accommodations to the Western Canadian oil and gas industry. The General Rentals division rents industrial and construction equipment. The Waste Management division is engaged in waste facilities management and collections.
