Caterpillar CEO positive on rental future

By Murray Pollok17 April 2013

Doug Oberhelman Caterpillar's chairman & CEO.

Doug Oberhelman Caterpillar's chairman & CEO.

Caterpillar chief executive officer Doug Oberhelman said the company would continue to push its Cat Rental Store network globally and that it would become an increasingly important facet of its business.

Speaking at Cat’s Bauma press conference, Mr Oberhelman said; “Around a third of assets [Cat equipment in the field] are now in rent to rent, and I can see that moving up 10 or 20% more in the next couple of years.

“We really have an opportunity to push this further. Contractors like [rental] because it removes a piece of risk from their business.”

He said he was unconcerned about the development of the Cat Rental Store network in Europe, where several major dealers, including Finning, Bergerat Monnoyeur and Pon Equipment, have sold or scaled back their Cat Rental Store operations in recent years.

Mr Oberhelman said such actions were related to economic conditions in Europe and that dealers would invest again when markets came back.

Latest News
Georgia Ports Authority places Konecranes’ largest RTG order
As part of its existing container operations at the Ocean Terminal facility, 55 hybrid Konecranes rubber-tired gantry cranes were purchased.
LGH grows sales with four new representatives
Todd Patriquin, Mark Murphy, Stephen Norman and Aaron Orsak have been appointed to new sales and rental support roles at LGH.
Kobelco aims for big performance from new small machines
OEM introduces next generation to its range of mini excavators