AMECO buys Mozambique rental company ServiTrade

AMECO, the equipment rental division of Fluor Corp, has acquired Mozambique rental company ServiTrade for an undisclosed price.

Based in Maputo, ServiTrade rents a fleet of heavy construction equipment as well as buses, water tankers, mobile cranes, rollers and other equipment to the construction, mining, oil and gas and infrastructure sectors in the country.

Founded in 1998, the company has five depots, Maputo, Beira., Moatize-Tete, Nacala and Pemba. It has around 400 units in its fleet.

AMECO has acquired 100% of the privately-owned company. ServiTrade's CEO José Alexandre Ascenção and some other senior managers are remaining in place, augmented by a new AMECO general manager and other staff.

Gary Bernardez, president of AMECO, said that increasing the company’s presence in Africa was one of its growth strategies; “so AMECO took this approach to expand in the market and position early in this high growth region.

"ServiTrade's long-term presence and high level of activity with AMECO's global accounts, stable economic factors and the desire to establish a sustainable presence in sub-Saharan and eastern Africa further solidified our decision."

ServiTrade’s fleet includes Caterpillar D6 and D8 bulldozers, Cat 140H motor graders and Cat and JCB backhoe loaders.

AMECO, based in Greenville, South Carolina, operates worldwide in support of its parent company and other major customers. The majority of its work is with external clients. It was ranked at number 21 in this year’s IRN100 listing with rental revenues of €371 million in 2011.