02
Mar

Herc Holdings sells Hertz China to LiuGong in transfer to focus on North American market

LiuGong simply launched its scissor aerial lifts to North America, a part of its international rental thrust, which now consists of the acquisition of Hertz China.

Herc Holdings has offered all of its curiosity in Hertz Gear Rental (often known as Hertz China) to Guangxi LiuGong Equipment, a transfer it says will assist it concentrate on the North American market.

Pending approval of presidency authorities in China, the deal is anticipated to shut in 60 days.

“The sale of our enterprise in China completes the disposition of all of our worldwide operations to raised concentrate on the North American market,” says Larry Silber, president and chief govt officer of Herc Holdings. “We’re happy that the enterprise will transition to LiuGong, a frontrunner within the development gear and materials dealing with industries in China. We consider that LiuGong will supply a big development platform for the Hertz China workforce.”

The transfer continues the rental thrust LiuGong introduced earlier this yr.

“Rental already represents greater than 90 % of the business for aerial work platforms in China,” says Kevin Thieneman, Guangxi LiuGong Equipment vp and chairman of LiuGong North America. “We’re happy to amass a enterprise led by an skilled workforce educated within the enterprise methodologies of one of many world’s main rental corporations. The Hertz China enterprise will allow LiuGong and our sellers to speed up the event of rental options each in China and globally.”