Loxam opens in Morocco and reports increased 2010 revenues
26 January 2011
Loxam has opened its first rental branch in Morocco, in Casablanca, under a partnership with local construction equipment distributor Stokvis. The company has also announced estimated revenues of €705 million for 2010, up 1.1% on the 2009 figures.
The revenue figure - no profit figures have been released yet - is better than the 5% reduction forecast for 2010 early last year by Loxam's president Gérard Déprez. Sales in 2009 were down 17.7% to €697.6 million.
The new Casablanca branch will focus initially on medium and long term rental contracts with large foreign contractors working in Morocco, including French companies, said Loxam's director of marketing Patrick Rizzo.
The operation, which is located at a Stokvis office in the Ouled Salah industrial zone, is being managed by Laurent Martinon, who previously ran Loxam's business in the French region of Burgundy.
Loxam described the opening of its first business in Africa as a "landmark" and said; "[we] will supply companies with our seasoned know-how in a country that offers significant growth prospects."
Stokvis distributes a wide range of construction and agricultural equipment in Morocco, including Komatsu, Dynapac, Pramac, Merlo and Locatelli. It also has a small construction equipment rental business of its own, called Komcat.
