MAN Rental expanding its international commercial-vehicle rental business
EURO-Leasing to become wholly-owned subsidiary of MAN Truck & Bus
With effect from April 1, 2011 the truck rental company EURO-Leasing will be taken over by MAN Truck & Bus AG. Since the end of 2009, MAN has held a majority stake of 50.1 percent in the company, which is one of Germany’s leaders in the commercial-vehicle rental business. MAN has now acquired the remaining 49.9 percent of EURO-Leasing in order to further expand its position in the field. EURO-Leasing currently has a fleet of around 3,200 trucks as well as 8,300 trailers and semi-trailers and is already the operator of the MAN Rental service brand.
“The complete takeover of EURO-Leasing is a logical step that will strengthen our position in this very promising market over the long term,” explained Dr Frank Hiller, Director of Marketing, Sales and Services for MAN Truck & Bus AG. “EURO-Leasing has developed outstandingly in the past few years, thanks to its know-how and customer orientation. In combination with MAN’s technical competence and international Sales and Service network, we will in future be able to offer retail and major customers a unique range of efficient rental vehicles and associated services,” said Ralf Faust, Managing Director of EURO-Leasing GmbH.
In acquiring EURO-Leasing as a wholly-owned subsidiary, MAN is simultaneously continuing its drive to internationalize its rental business. At present, EURO-Leasing and MAN Rental operate in Germany, Poland and Denmark. The next step will be to launch MAN Rental on the UK and Swedish markets as well. The takeover will not result in any changes to the company structure. “In the rental business, short decision paths and operative flexibility are the factors required for success. For this reason we will not be making any changes to EURO-Leasing’s structures or to its independence - it is precisely the competence of EURO-Leasing that we want, in order to provide MAN Sales with an additional service product. And that in an every-increasing number of countries moving forward,” continues Dr Hiller. EURO-Leasing will continue to exist as a brand, with the MAN Rental service brand being used in countries where MAN establishes or expands a rental business in future with its own Sales Division.
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