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Industry Update

Updated: July 8th, 2008 05:26 PM GMT-05:00

Industry Update

Rental News

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Industry Update

Industry Update

Rental Network has put together a list of support companies who will be able to offer rental companies expert advice.

He says the aim is to target Italy’s largest 50 rental companies, and he says that several firms have already used the new consultancies services, including Algeco, Nacanco, Liebherr Noleggio, Volvo Rents - Italnolo and Gruppo Made.

United Rentals optimistic about 2008

United Rentals Inc., the equipment rental company whose $4-billion takeover by Cerberus Capital Management LP collapsed, forecast 2008 profit that exceeds analysts’ estimates, according to reports on Bloomberg.com.

Better management of the rental fleet and cost savings might generate profit of $2.80 to $3 a share as sales decline to $3.53 billion, the Greenwich, Connecticut-based company said recently in a statement. The average of eight analyst estimates compiled by Bloomberg was for earnings of $2.72 a share on $4.04 billion in revenue.

The earnings outlook is the first from United Rentals since it agreed on July 23 to be bought by Cerberus, which backed out of the deal Nov. 14 and caused the stock to lose more than half its value. United Rentals, the largest U.S. construction rental company, said the cost cutting and fleet management will help it compensate for “limited growth” in its main markets.

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