Mills Rental placed orders worth US$80 million in third quarter
By Murray Pollok12 November 2010
The access and telehandler rental division of Mills Estuturas e Servicos de Engenharia in Brazil has placed orders worth US$80 million for additional equipment to the end of 2011. The investment will allow it to "meet the huge demand and to guarantee the expansion plan of the rental division".
Mills said it will receive the new machines - including two JLG 150HAX booms, the largest self-propelled lifts on the market - over the coming 13 months. Mills is using only Genie and JLG machines and this particular order is "more Genie than JLG", Mills told AI.
Growing demand has led Mills to accelerate its depot opening programme. The company opened two new branches in the third quarter of the year and plans to bring forward to this year the opening of four other sites that were originally earmarked for 2011.
The rental division - one of four Mills divisions - saw revenues in the third quarter increase by 77.1% to R$25.8 million (€11 million).
Mills, which is now listed on the Sao Paolo stock exchange, has been benefitting from the major investment in infrastructure and housebuilding as well as on preparations for the 2014 World Cup and the 2016 Olympic Games.
In addition to the Rental Division, Mills sells and rents scaffolding, formwork and other related equipment. Overall, the business reported sales up 45% year-on-year to R$148.9 million (€63.5 million) in the quarter. Of that, rental (including aerial platforms, telehandlers, scaffolding and formwork) accounted for revenues of €91.8 million (€39.1 million).
Scaffolding revenues in the third quarter increased by 45.4% to R$52.5 million (€22.4 million) compared to the same quarter in 2009.
Scaffolding is supplied through its Industrial Services Division, while the Jahu Division supplies and rents equipment for residential and commercial construction.
During the third quarter Jahu added two new products to its fleet: mast climbing work platforms and a lightweight slab formwork system. The mast climbers, as well as some hoists, have been supplied by Spain's Alba, mainly the PEC120 units.
The group's total budgeted capital investment in 2010 is R$338.0 million (€142 million).