Boston, MA 10/16/2014 (wallstreetpr) – Hertz Global Holdings, Inc. (NYSE:HTZ)’s subsidiary Hertz Equipment Rental Corporation (HERC) has announced the opening a unit in Panama City, Panama.
New Center
As stated in a MarketWatch article, the company seeks to provide specialty devices rental solutions in the Panama City with its new launch. The key sectors that the new facility will cater to include government, industrial and construction. HERC Panama is overseen by Asesoria Especializada RAL S.A, which has been a part of the HERC global franchise group since 2013.
HERC Panama deals in a wide range of commercial and industrial products that can be either be purchased or rented. Some of the equipment that Hertz Global Holdings, Inc. (NYSE:HTZ) offers include compaction, compressed air, electrical, material handling, aerial, power and earthmoving machinery. It also aims at providing industrial plant services, along with comprehensive fleet management services.
Mutual Benefits
Panama is currently an important centre for various industrial projects. Some of the most important ongoing projects in the country include transportation construction, the development of the Panama metro line, and the development of the Panama Canal. According to reports, the country’s government has plans to invest as much as $20 billion in a number of such development programs over a period of five years. HERC’s new facility in the country also aims to contribute significantly in its development.
In this context, Hertz’s Interim CEO, Brian MacDonald, commented that Panama could benefit significantly from Hertz’s presence in the current scenario. This is because Hertz Global Holdings, Inc. (NYSE:HTZ) would prove to be a valuable source of rental equipment in Panama. On the other hand, he said that HERC Panama would also benefit as this is an important opportunity for it to expand its international footprint. He also emphasized that Panama is among the fastest growing markets of Latin America, which makes it an attractive destination for businesses.
