Pon buys Milcon

19 March 2008

Pon Holdings – The Netherlands international trading company and Caterpillar dealer – has bought access and telehandler rental company Milcon, based in Sittard, The Netherlands. The deal was completed at the beginning of June for an undisclosed price, with the van Mil family selling all its shares.

Brothers Gilbert and Michel van Mil will remain as co–managing directors, and the company will continue to trade as Milcon. “Milcon stays Milcon,” Gilbert van Mil told AI.

Pon also owns Gunco, the Netherlands–Belgian access and forklift truck sales and company, and the two companies will cooperate. “We each can call our sister company [to share fleet resources] and we will have more market opportunities,” said Mr van Mil.

Mr van Mil said Pon's financial strength would bring opportunities for Milcon. “There are now ways we can invest more than before.” For example, he said Milcon would open an additional office in Germany this year and will expand its rental fleet in its home country and in Belgium. Milcon's access sales division in Beijing, China, will also be retained.

Gunco imports Genie platforms and one result of the deal is that the Genie portion of the Milcon fleet will rise. “We are closer to the fire, it is more convenient for us now to buy from Genie,” said Mr van Mil. Since the deal, Milcon has ordered several hundred Genie machines, mainly access platforms, for delivery beginning in a few weeks.

Mr van Mil also toldAI that Milcon has I been talking to Paul Van Berendonck, managing director of Rotterdam–based Gunco, about expansion into the European market. He said that rental growth into other countries in Europe could be attractive, but that operations there are “something to discuss, something in the back of our minds.”

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