FAMCO to launch new KSA rental division in 2013
FAMCO sees demand to expand rental offering into Saudi Arabia in 2013
Al-Futtaim Auto and Machinery Company will a new rental division in Saudi Arabia in 2013, in addition to its existing operation in the UAE, said Mamdooh Diyab, divisional manager, Volvo Rents at FAMCO.
Diyab said the company has completed the required studies, and sees huge potential in the Kingdom.
"[In Saudi Arabia we see] the great opportunities we will have in this developing market."
FAMCO is also considering expanding its rental operation into Qatar and Oman, where it opened equipment dealerships in 2012.
Construction equipment currently makes up 80% of the company's rental offering, while other products such as diesel generators, air compressors and material handling solutions are also part of the product mix.
It also recently started a trucks leasing business, which it expects will create new markets and customers, said Diyab.
"Another support we can offer to our customers is by giving them different solutions to choose from. In addition to rental, we offer them leasing, lease-to-own, and rental with an option to purchase.
"All our rental fleet can also be offered to the market as approved and certified used equipment."
Diyab said that one advantage for its customers is that their fleets units are almost new, covered with full repair and maintenance service agreements, and have comprehensive insurance.
"Our service team members are fully dedicated to support the units wherever it is working, and whenever it is required.
"With this we believe we can be with our customers wherever they have projects in the region, providing them with a top-class rental solutions and products."
Diyab says the UAE market remains a strong starting point for FAMCO "Where we have achieved great success, and created a strong and loyal base of customers."
"All GCC countries are considered for us as a target, and we will continue offering our well-accepted support to any market we feel that it needs us to be there," he added.