Mills doubles fleet investment for 2012

Brazilian rental, scaffolding and contracting business Mills Estruturas e Serviços de Engenharia has more than doubled its planned capital expenditure budget for 2012 to R$ 256 million (US$126 million), with investment in its Rental division increasing by a factor of 2.5.

The previous 2012 budget was R$127 million (US$62.5 million).

The increases are focused on its three largest divisions, with spending at the Rental business increasing from R$53 (US$26 million) million to R$136 million (US$68 million); at the Jahu scaffolding operation from R$28 million (US$14 million) to R$44 million (US$22 million); and at the heavy Construction division from R$22 million (US$11 million) to R$52 million (US$26 million).

Mills said the increased spending was "in order to continue to capture attractive opportunities in its markets."

The spending increases at the rental division will be particularly welcome for aerial platform manufacturers. Mills owns the largest rental fleet of aerial platforms and telehandlers in South America and has been a major buyer for several years.