Newsletter #344 (View other news stories)
Haulotte sells rental interests to Loxam
L’HORME, France
Wednesday, 23 Jan 2008
 French equipment rental company Lev's product offering. |
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Haulotte Group has divested its French rental businesses to Loxam Group for an undisclosed amount.
The Lev and Royans Levage companies operate about 2,000 machines distributed through a national network of 25 branch companies. These contributed about EUR30 million (USD43.9 million) to Haulotte’s 2007 revenues. The companies’ fleet consists of people lifting and material lifting equipment, the latter comprising an "insignificant" percentage.
Haulotte spokeswoman Carine Ploton says the group considered the rental market environment before selling Lev and Royans Levage.
"[It will] give our French rental business a real opportunity of development in a specialised group for the coming years."
Loxam Group, established in 1967, claims to be Europe’s leading equipment rental supplier for the public works, construction and manufacturing sectors. Headquartered in Chatenay-Malabry, Paris, its 120,000-piece rental equipment inventory is supplied through a network of 550 locations in 10 European countries. It estimates its 2007 consolidated turnover to be EUR740 million (USD1.081 billion).
Haulotte CEO Alexandre Saubot says the sale of the rental businesses will have a positive impact on the group’s 2008 accounts besides focusing its resources on developing its business in and outside Western Europe.
"This operation will reinforce our strong balance sheet that can support Haulotte’s future development."
The Eastern European, South American and Asian regions are expected to fuel Haulotte’s growth in the next few years.
With over 2,000 employees, Haulotte’s 2007 turnover was EUR652.7 million (USD951.3 million), 26% higher than 2006's turnover of EUR519.3 million (USD759 million).
The group predicts the global material handling and people lifting equipment market to be stable this year and forecasts annual sales to exceed EUR700 million (USD1.02 billion).
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