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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  General de Alquiler de Maquinaria, S.A.    GALQ   ES0141571192

GENERAL DE ALQUILER DE MAQUINARIA, S.A.

(GALQ)
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General de Alquiler de Maquinaria S A : GAM seals a strategic agreement with Hyster to distribute its products exclusively in Spain

02/18/2020 | 05:25am EST

18Feb

  • This agreement reinforces the Company's position in the services for industry market, thus expanding its capacity to sell equipment, spare parts and maintenance.
  • GAM established the company Genera Industrial, which is responsible for marketing this lorry and industrial equipment business line.
  • Genera Industrial has more than 60 customer service points, among independent dealers and offices, as well as a network of 450 technicians and 320 mobile workshops.

The Spanish multinational GAM (General de Maquinaria de Alquiler, BME: GALQ) has signed a strategic agreement with Hyster for the exclusive marketing, distribution, management and maintenance of its products in Spain. The product portfolio covers a wide variety of forklifts and indoor equipment, from manual pallet jacks to 52-tonne container handlers.

The agreement reached with Hyster also allows for a technological partner that will boost GAM's competitive position in the industrial sector, especially linked to long-term services in ports, logistics and manufacturing areas, food, etc.

GAM, which has been providing services to the industry for more than 15 years, reinforces its commitment to a constantly growing market. To lead and promote this business in Spain, GAM has established Genera Industrial, based on the acquisition of a renowned Spanish lorry distribution company.

The extensive experience provided by the Genera team now includes the coverage and infrastructure of GAM, which will support the fleet of forklifts of all sizes anywhere in Spain.

From the beginning, Genera has had a network of more than 60 customer service points between independent dealers and offices, and a network of 450 technicians and 320 mobile workshops specialising in lorries and industrial equipment.

Joaquín Rengifo, General Manager of Genera Industrial, considers that 'Hyster forklifts are the most efficient and reliable on the market, designed for the complex industrial operations found in Spain.' 'The company has strengthened its position in Spain with the appointment of General Industrial as exclusive distributor of the range of equipment,' added Simon Munn, Red Hyster's Vice President of Development in Europe.

In recent years, Hyster has focused its operations on developing solutions that improve specific applications in sectors such as automotive, metallurgy, food and beverages, pulp and paper, manufacturing and logistics. 'Whatever the application a company requires, automated lorries, diesel equipment for work in dusty areas, indoor equipment for high-level warehouses, electric warehouse lorries, Hyster equipment adapts to any environment. And the more complicated the requirement, the more versatility Hyster offers,' added Rengifo. 'The company's goal is to combine efficiency, reliability and the best operating cost for companies based in Spain, offering spare parts and excellent technical support throughout the life of the equipment'.

GAM has been providing machinery services since 2003 thanks to a fleet of more than 20,000 machines and more than 1,000 employees present in ten countries through a network of one hundred offices. The headquarters of General Industrial is the GAM office in Madrid, located in San Fernando de Henares.

Disclaimer

GAM - General de Alquiler de Maquinaria SA published this content on 18 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2020 10:24:07 UTC


© Publicnow 2020
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Financials
Sales 2020 130 M 156 M 156 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -13,1x
Yield 2020 -
Capitalization 66,2 M 79,2 M 79,2 M
Capi. / Sales 2020 0,51x
Capi. / Sales 2021 -
Nbr of Employees 1 091
Free-Float 50,1%
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Pedro Luis Fernández Pérez Chairman & Chief Executive Officer
Elsa Bermudez Sanchez Operations Director
Suarez Trelles Director-Finance & Economics
David Fernandez Director-Administration & Systems
Jacobo Cosmen Menéndez-Castañedo Lead Independent Director
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