GAP invests for fleet expansion
14 March 2011
GAP Group in the UK is to invest £25 million on new equipment during 2011, with £10 million of that earmarked for expansion of the fleet rather than renewal.
Around £10 million in spending has already been committed, with new Kubota mini excavators, Sullair compressors (pictured), site dumpers and 60 Ammann rollers to be delivered in the first fiscal quarter of 2011/12. This initial order comprises 400 units of plant, which will be distributed across GAP's 59 UK depots.
Additional repeat orders for mini excavators and rollers have been placed for delivery by the end of September.
GAP's joint managing director, Douglas Anderson, said; "While many of our fellow tool and plant hirers are cutting back on expenditure and only renewing equipment, we are delighted to be moving forward by adding to our fleet in this difficult economic climate and to be able to provide our customers with exactly what they're looking for."
The announcement on its investment plans follows a £2 million investment in six new lifting equipment depots in January this year and £1.5 million spent on a second non-mechanical plant depot, located in Warrington and due to open in April.
GAP claimed it was investing more as a percentage of its turnover than any of its competitors. The company's revenues in 2010 were £79 million. If repeated in the current year, the £25 million investment would represent almost 32% of turnover.
Ken Stewart, group procurement manager at GAP, said; "Here at GAP we recognise that customers want the most recent and best quality machines available and that, above all, it's crucial that we meet these requirements and we are very confident that adding to our fleet will lead to a great deal of customer satisfaction".