Hertz Dayim Equipment Rental Brings Large Scale Power Solutions To Saudi Arabia
Hertz Equipment Rental Corporation and Dayim Holdings Joint Venture enters strategic partnership with APR Energy to provide industrial electricity supply in Saudi Arabia
PARK RIDGE, N.J., May 14, 2013 /PRNewswire/ -- The Hertz Corporation (NYSE: HTZ) has announced that APR Energy and Hertz Dayim Equipment Rental have entered a partnership agreement to develop business for fast-track power solutions in the Kingdom of Saudi Arabia (KSA). The agreement gives Hertz Dayim Equipment Rental, the joint venture between Hertz Equipment Rental Corporation and Dayim Holdings, immediate entry into the lucrative power solutions market within the KSA. APR Energy will provide Hertz Dayim Equipment Rental customers with expertise and leadership in fast-track power solutions, as well as a modern fleet of diesel and natural gas reciprocating engines and dual-fuel turbines.
The Saudi power market offers great potential for growth, with plans to increase generating capacity from 55GW to 120GW by 2020 in order to meet rising demand. The country also has the fifth largest natural gas reserves in the world, but has yet to fully utilize its natural gas potential, providing opportunities for both gas reciprocating engine and dual-fuel turbine technologies.
Lois Boyd, Group President, Hertz Equipment Rental Corporation said: "We are pleased to expand our equipment rental portfolio with large scale power solutions for our utility, construction and industrial customers in Saudi Arabia through the APR Energy and Hertz Dayim Equipment Rental partnership. With APR Energy's leading-edge power solutions, our customers will have access to cost-efficient, reliable electricity, on a fast-track basis, along with dedicated project management support."
Chairman of Hertz Dayim Equipment Rental Ltd HRH Prince Khalid bin Bandar bin Sultan said: "With the Saudi Construction and Industrial sector growing at such a fast pace, the demand for power is outstripping supply and there is a big market for power solutions. APR Energy is a global leader in fast-track power generations solutions, and their line of business has significant synergies with our existing equipment rental business in Saudi. It is a strategic step for our business towards providing a one stop solution to the utility, construction and industrial sector in Saudi for all their equipment and power needs."
The mutually beneficial agreement provides APR Energy with immediate access to one of the largest power markets in the Middle East by leveraging Hertz' business network, trusted global brand name, and established industry experience within the country. Through the partnership agreement, APR Energy and Hertz Dayim Equipment Rental will collaborate on business development opportunities for large-scale, fast-track power projects, as well as cooperate on various co-branded marketing activities within the KSA.
"We are excited about our partnership with Hertz Dayim Equipment Rental and the mutually beneficial prospects the relationship will bring," said APR Energy Chief Executive Officer, John Campion. "Saudi Arabia is a high priority market for APR Energy, and is a key part of our growth strategy for the Middle East. Hertz Dayim Equipment Rental, together with its established operations and strong connections in the KSA, gives us a strong partner with whom we can very quickly access this important market."
The partnership further expands APR Energy's presence in the Middle East and North Africa region. Following the opening of its regional hub in Dubai in 2012, APR Energy has executed successful power projects in Oman and Yemen, and earlier this year, signed a 250MW contract for mobile gas turbines in Libya.
About APR Energy
APR Energy specializes in the sale of reliable and efficient electricity through the rapid global deployment of customized, turnkey power solutions. APR Energy's fast-track approach, flexible offerings, and comprehensive operation and maintenance services have established it as a leader in the utility and industrial segments. APR Energy provides its power generation solutions to customers and communities around the world, with an emphasis in Africa, South America, Central America, the Middle East, and Asia. APR Energy also implements philanthropic initiatives at each plant location through its Community Development Program, which aims to build and maintain close relationships with its neighbors through projects and donations in health and education.
About Hertz Dayim Equipment Rental
Hertz Dayim Equipment Rental is a Joint Venture between Hertz Equipment Rental Corporation (HERC), the equipment rental subsidiary of The Hertz Corporation (NYSE: HTZ), and Saudi Arabia based Dayim Systems. Hertz Dayim Equipment Rental has been operating in the Kingdom of Saudi Arabia since January 2011 and rents equipment and tools to construction and industrial customers throughout the KSA. Hertz Dayim Equipment Rental operates one location in Dammam, with plans of expansion into Jeddah and Riyadh in 2013.
About The Hertz Corporation
Hertz operates its car rental business through the Hertz, Dollar and Thrifty brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the U.S. and at 111 major airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and franchisee locations in approximately 80 countries. Hertz is an inaugural member of Travel + Leisure's World's Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine's readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat's 2012/13 U.S. Car Rental Survey, earning top honors in 14 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company's Adrenaline, Prestige and Green Traveler Collections, also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates the Hertz On Demand car sharing business. The Company also owns a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services.
SOURCE The Hertz Corporation
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