Hertz to moves into Saudi
Hertz Equipment Rental Corporation has entered into a joint venture with Saudi Arabian based Dayim Holdings to set up equipment rental operations in Saudi Arabia to rent and sell equipment and tools to construction and industrial markets.
Dayim Holdings was established in 2006 as a vehicle for investment and partnerships in Saudi Arabia. It operates and manages its companies in sectors with high market growth potential using joint ventures, investment and strategic partnerships with globally recognised businesses or brands in construction, oil and gas, security, IT and telecommunications.
Hertz has been present in the Saudi car rental and leasing market for some time with its franchise partner The Ali Reza Group.
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(L-R) Gerry Plescia of Hertz with Prince Khalid bin Bandar bin Sultan of Dayim
Prince Khalid bin Bandar bin Sultan, Dayim’s executive chairman said “Hertz is a global leader in the field of equipment rental, therefore we believe that it is ideally placed to serve the Kingdom’s aggressive expansion plans in all relevant sectors.”
Mark Frissora, chief executive of Hertz said: “The equipment rental market in Saudi Arabia is expanding rapidly, driven by heavy construction and opportunities in the petrochemical industry. Our joint venture with Dayim Holdings will enable us to tap into growth throughout the country. With an established presence in the Kingdom, HERC will be able to offer a one-stop shop for equipment rental and fleet management needs for this important market.”
Gerry Plescia, president of Hertz Equipment Rental added: "This was truly a collaborative effort as our teams from the U.S., Europe, and Asia worked closely with the Dayim team to put this important business partnership together. The combined strength of these two organizations will enable outstanding growth opportunities for both and allow us to deliver the highest level of service to those customers in Saudi Arabia."