With the Philippines construction sector starting to improve, the forklift leasing market faces a bright future.
Many companies are now outsourcing materials handling requirements, particularly for forklifts and cranes, rather than buying new machines, says Ram Ramos, sales manager of leasing company Capital Industries Inc.
He said signs indicated a recovery after June. Already, Capital had signed contracts with large companies, including three-year deals with Caltex and Goodyear, for forklifts and services.
"Large companies, on tight budgets, prefer to outsource to forklift distributors for materials handling equipment rather than buying new," he said.
Capital sells and leases TCM, Toyota and Mitsubishi forklifts, Logitrans, Bishamon and Soosug stackers and hand pallet trucks.