Chinese crane, access and construction equipment manufacturer LiuGong (Guangxi LiuGong Machinery) has completed its acquisition of Hertz China, after having received the necessary approval from relevant government authorities in China. Hertz China will now operate as a wholly-owned subsidiary of LiuGong.
Speaking of the acquisition in March (see: LiuGong acquires Hertz China), LiuGong vice president, Kevin Thieneman said: “For construction equipment, rental is the largest industry segment in Europe and North America and is projected to become a significant portion of the industry in China. Rental already represents more than 90 percent of the industry for aerial work platforms in China. We are pleased to acquire a business led by an experienced team trained in the business methodologies of one of the world’s leading rental companies. The Hertz China business will enable LiuGong and our dealers to accelerate the development of rental solutions both in China and globally.”