Onrent, India's largest access equipment rental company and part of the mtandt Group, has been investing heavily in facilities and equipment.
Seeing the opportunities and growth potential of the access equipment rental market, the management of mtandt has decided to shift its strategic focus from its retail, manufacturing and distribution businesses, consolidating these under a separate division, and relocating the excess revenue to focus primarily on the rental division. mtandt will focus and invest only on the 20% range of access equipment that brings in 80% of revenue
Onrent currently has over 400 rentable units supported by depots in Chennai, Delhi and Mumbai, and regional offices at Bangalore and Hyderabad
Some INR 40 million is being spent on a "State of the Art" service facility in Chennai, this was inaugurated in March by president of JLG, Craig Paylor (before his retirement) The company is also investing in new equipment worth INR 70 million from JLG and used equipment worth INR 200 million from JLG and other suppliers from USA and Europe. INR 30 million is also being invested in its own aluminium mobile access platforms made under the Aardwolf Quickfit brand.
Mtant's chairman said, "The period ending March 31 2010 has seen a strong and resilient India emerge from an unprecedented economic crisis in 2009. Despite the challenging environment of last year, I'm happy to report that mtandt has been able to deliver a commendable top-line as well as profit growth. Our company showed great resilience and stability in tiding over the tough period successfully.
"The Indian economy has seen a recovery since the last quarter of 2009. Even though India's GDP growth is at 6% compared to 6.5% in 2008-09, the manufacturing, industrial, mining and electricity sectors have seen growth. Consumer goods also recorded a high growth rate. The Indian stock market has gotten onto a bullish path, responding to the recent improvement in the economic situation. India's trade has also been observed to recover from the depression of 2009. All these trends show signs of the recovery of the economy which opens up a world of opportunity for us.
"Mtandt has consistently been working towards connecting itself to its customers by understanding their unique, precise "For India" requirements and delivering just that. mtandt has made considerable investment in people, equipment, technology and infrastructure to support its customers and give them an advantage of safe and reliable solutions at economical price.
"Our company is ready now to increase its geographical reach and accelerate its "For India" strategy"
mtandt is the official distributor for JLG, Teupen and manufactures aluminium mobile access platforms under the Brand Name of Aardwolf Quickfit ( conforming to EN 1004 ). mtandt also sells products PETZL (rope Access and fall protection ) and installs fixed fall protection cum access system on roofs.