irn04050702.xml

Australian heavy equipment rental company Emeco is targeting rental revenues in Europe and North America of between A$300 and A$500 million (approximately €180-€300 million) within three years. Revenues for Europe and North America in the 2006 financial year were A$46 million (€28 million). Laurie Freedman, Emeco's managing director, told IRN that up to 60% of all large mobile plant used at mines could eventually be rented. Currently, there is an estimated 13% rental penetration rate in Australia and 0% in Europe and North America. See our special report on the heavy equipment rental market on page 33.