Hertz Equipment Rental Corporation (HERC) has added to its network in the Middle East with a new franchise agreement with Iraqi company Khudairi Group for the exclusive license to provide Hertz rental equipment in the country.
The company said HERC Iraq would offer one of the largest light-to-medium equipment fleets in the country, serving oil and gas, construction, industrial, and government customers. It said its branch network would include locations in Erbil, Baghdad, Basra, and Sulaimani.
It added that HERC Iraq would offer a range of earthmoving, power, aerial, material handling, electrical and compressed-air equipment, beginning January 2016.
HERC president and CEO Larry Silber said, "This agreement reflects our long-term global-business strategy to license franchises, establish joint ventures and, where appropriate, open company-owned branches in emerging and growth markets where the equipment-rental model is poised for continuing expansion.
"We are especially pleased to partner with the Khudairi Group, which is one of Iraq's most prominent commercial organisations and brings more than one hundred years of demonstrated success to the HERC Iraq franchise.”
And Jay Early, HERC international vice president, added, “HERC Iraq is well-positioned to support the country's ongoing development, with oil-related and industrial projects, commercial construction and infrastructure work underpinning Iraq's revitalisation.
"The Khudairi Group's experience working with firms engaged in engineering, procurement and construction (EPC), oilfield supply and service, and heavy machinery position HERC Iraq for immediate success. In addition, HERC Iraq's access to a multitude of clients across all sectors throughout Iraq create a solid platform for long-term growth.
"Our success in Saudi Arabia, our recent expansion into Qatar and our franchise in Iraq reflect our confidence in the ongoing development of key markets in the Middle East. With one of the largest and most diverse equipment line-ups in the industry, we are excited to play a role in the development of the region's important public and private projects."
President of the Khudairi Group, Subhi Khudairi, said, "Our experience and expertise across the oilfield, construction, industrial and government sectors enables us to understand and meet customer requirements in these demanding markets. We are committed to providing best-in-class equipment backed with superior service and support with a highly trained and professional team across our locations."