04.10.2013

Mills spends a further $71 million

The Rental division of Brazillian scaffold and rental contractor Mills Estruturas e Serviços de Engenharia, has placed new orders for powered access equipment, worth a total of $71.3 million, with monthly deliveries beginning in January 2014.

The company has also entered into a hedge contract to protect against currency fluctuations. It has not released details of the split between manufacturers.

Mills expects that by the end of this year the rental division, which is largely powered access and telehandlers, will have 29 branches and have invested R249 million ($109 million) during 2013.
The latest orders are intended to address strong market demand and to continue the company’s geographic expansion strategy, with at least, five new branch openings planned for 2014.

Vertikal Comment

These growth levels are a tough challenge for any company to absorb, but in a developing market, with the geographic challenges found in Brazil it is even more incredible.
This latest order suggest that the company will spend even more next year.