Mills to invest heavily in access
By Euan Youdale27 January 2014
Mills Estruturas e Serviços de Engenharia S.A. (Mills) will spend 73% of its rental capex budget for 2014 on aerial platforms and telehandlers, amounting to R$169 million.
In the capital expenditure figures released today, the heavy construction segment of the Brazilian rental company is set to receive R$37 million, while the real estate segment will get R$25 millon - bringing a total expenditure of R$231 million across the three business areas.
This is in sharp contrast to last year’s projected capex figures released in January 2013. Then, access equipment and telehandlers were set to receive R$59.6 million during 2013, while real estate would take R$53.8 million and construction R$ 26million.
“The company will evaluate whether to increase these investments as 2014 progresses, in accordance with market opportunities, mainly those related to auctions in the infrastructure sector, since we have significant flexibility as regards increasing our inventory of equipment, as the time between investment decision-making and receiving equipment is around 90 days,” explained a company spokesman.