26.06.2011

Mills boosts capex 25%

Brazilian based rental and industrial services company Mills has said that it is increasing its planned investment in new aerial lifts this year by a further R$32.4 million ($21.2 million) – or 25 percent - to R$ 161.3 million ($101.4 million).

The company said that increasing market demand and a stronger than expected performance from its new branches has led to the decision to increase capital expenditure.

The rental division, which is dedicated to powered access, has opened 10 new branches since January 2010 in the southeast, south, north and northeast regions of the country. The new locations generated over 48 percent of the division’s total revenue in the first quarter of 2011. The company has also opened a further five branches in 2011, with three new branches in the state of Maranhao and two more in the state of Rio de Janeiro.

The new equipment will largely be used to supply the new branches although utilisation at older locations is also running high at well over 75 percent.
Click here to see Powered access up 96.5% at Mills
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