Hertz Equipment Rental Corporation (HERC) has further expanded in the Middle East with the launch of Hertz Dayim Equipment Rental in Doha, Qatar.
The news came after Hertz Dayim Equipment Rental opened a greenfield location in Riyadh, Saudi Arabia, earlier this year.
The company said the new Doha branch was part of a joint venture agreement between HERC, Dayim Holdings and Phoenix Project Development WLL of the Al-Attiyah Motors & Trading Group.
It is the first time that Hertz Dayim Equipment Rental has expanded outside of Saudi Arabia since the partnership was established four years ago.
“With Qatar’s planned infrastructure megaprojects over the next five years, Hertz Dayim Equipment Rental is well positioned for expansion into the Gulf State,” said Francis Early, HERC international vice president.
“Hertz-Dayim’s aim is to provide first class, value-added equipment rental solutions to the country’s construction and infrastructure development industry.”
Chairman of Hertz-Dayim Equipment Rental, HRH Prince Khalid bin Bandar bin Sultan, added, “Regional expansion is a major strategic objective for Hertz-Dayim Equipment Rental and I believe that Qatar is the right place to begin this expansion.
"Infrastructure and construction sectors in Qatar are expected to see massive growth because of the FIFA World Cup in 2022, leading to heavy demand for construction equipment and related services.
“Regional presence will give scale to our business, as well as the flexibility to move fleet across different Gulf Corporation Council (GCC) markets. We are confident that we will replicate the success of the Saudi business across the GCC and this is just the first step in that direction.”
Separately, HERC parent company Hertz, said in a filing with the US Securities and Exchange Commission that it was “unable to timely file its quarterly report” for the three months ending 30 September, 2014.
It said the delay was down to a thorough review of its internal financial records for fiscal years 2011, 2012 and 2013 and its potential impact on the company’s 2014 financial results.