PARK RIDGE, N.J. - April 22, 2013 // PRNewswire // - The Hertz Corporation (NYSE: HTZ) has announced that Hertz Equipment Rental Corporation has entered into a franchise agreement with Consolidation Services Inc. through its wholly owned subsidiary Mongolia Equipment Rental Corporation. Consolidation Services will have the exclusive license to provide rental equipment in Mongolia utilizing the "Hertz Equipment" brand and proprietary system, starting from a commencement date of July 1, 2013. This move will significantly add to Hertz Equipment Rental's existing network in Asia.
Lois Boyd , Group President, Hertz Equipment Rental Corporation, said: "We are very excited to launch in Mongolia through our partnership with Consolidation Services Inc. The nation is one of the most exciting new markets for the world's mining industry. With its double digit GDP growth (estimated at 15.74% by the IMF for 2013) and influx of foreign investments, the country is also experiencing a boom in construction and infrastructure development."
Former US Ambassador and Chairman of Consolidation Services and Hertz Equipment Mongolia, Mr Michael Ussery , added: "Mongolia's resource-led economy offers a huge market opportunity for equipment rental. We are delighted to join the Hertz global equipment rental network, giving us access to hundreds of equipment and tool manufacturing partners. This will enable us to provide a full array of equipment rental services to meet a variety of mining, construction, infrastructure development and other equipment rental needs."
The Hertz Equipment Mongolia business will offer a broad range of mining, construction and infrastructure development equipment for rent and sale along with spare parts, repair and other services. The equipment categories under the franchise agreement include:
Hertz operates its car rental business through the Hertz, Dollar and Thrifty brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the U.S. and at 111 major airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and franchisee locations in approximately 80 countries. Hertz is an inaugural member of Travel + Leisure's World's Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine's readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat's 2012/13 U.S. Car Rental Survey, earning top honors in 14 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company's Adrenaline, Prestige and Green Traveler Collections, also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates the Hertz On Demand car sharing business. The Company also owns a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services.
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SOURCE The Hertz Corporation