How rental companies adapt to the different phases of a developing market will be addressed by Pat Fallon, COO of Byrne Equipment Rental, at the International Rental Conference (IRC) in Shanghai on 26 November.
Mr Fallon, who has spent 24 years with the Dubai-based rental business, has seen the company develop and adjust as the market matured, and through various forms of ownership, from its entrepreneurial beginnings to private equity owners and now a strategic investor.
“I will tell the story of the Byrne business in three phases”, said Mr Fallon, “The pioneering stage, when it was a small rental market in the early 90s; the developing stage, when we were growing geographically and in product lines; and the developed market phase, where the focus is on constant innovation and challenges such as pricing pressures.”
How to work with different types of owners will be a key topic in his presentation, and he will consider the processes involved in taking important strategic decisions, such as adding product lines or expanding into new geographical markets.
“What happened at Byrne, and how we reacted to a changing political and economic landscape, is a story that will have relevance to Chinese and Asian rental companies, who are on a similar journey”, said Mr Fallon.
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