United Rentals and Fluor's AMECO announce joint venture
By Richard High17 August 2010
United Rentals and Fluor Corporation's AMECO rental division are to form a joint venture for plant maintenance and turnaround activities initially supporting the oil and gas industry in the Gulf Coast region of the US.
The JV plans to provide full turnkey services and comprehensive offerings along with an "industry-leading safety program". It will also offer "customized solutions based on customers' needs" with the ability to "scale to appropriate levels quickly and nimbly", according to a joint statement.
The deal will help United Rentals further increase its industrial related rental business, which has been a key strategy for several of the largest US rental companies in response to depressed construction markets.
United Rentals has the largest fleet and geographic coverage for equipment rental in the US, and AMECO's in-house tool and maintenance expertise, together with its site management services expertise, is expected to provide additional value to customers during turnarounds, shutdowns and sustaining operations.
Michael Kneeland, chief executive officer of United Rentals said, "This partnership allows both companies to expand their presence in the energy market while remaining focused on our core competencies. For our customers, an integrated source of supply means greater productivity."
Gary Bernardez, AMECO's president, said, "AMECO's expertise in providing project tools and site services, coupled with a world class safety culture is a complementary fit with United Rentals' significant rental fleet infrastructure and technology capabilities.
"The combined resources of the two companies will provide a seamless, one-stop shop for oil and gas customers at their project sites throughout the Gulf Coast region."