Sandvik launch short-term rental service in US
Company introducing new structured rental offering with rental periods from as little as one month
LAUNCHING in five states and designed to fill a gap in the market, Sandvik Mining and Rock Solutions’ new US rental service will offer a range of mining and construction machines – with rental periods from as short as just one month.
Building on the success and learnings of Sandvik’s short-term rental service in Europe, and working in partnership with their US dealer network, the new structured rental offering is designed to meets the needs of customers looking for short-term off-balance sheet solutions to fill production gaps or expand their operations, but at minimal risk.
Part of a long-term expansion plan for the service, Sandvik will start by offering DX700 drill rigs that are commonly used in quarrying and will initially launch the service in five states, with Tennessee, Kentucky, Georgia, and North and South Carolina selected on the basis that the rental concept is already most established on the East Coast of the country.
‘Construction, quarrying and mining customers in the US are increasingly looking for off-balance sheet solutions when acquiring equipment,’ said Olli Karlsson, business unit manager for rental and used equipment, at Sandvik.
‘With the industry booming across the country, this is an exciting time to be launching a rental service in the US. The ability to free up capital that rental and lease-based structures offer – not to mention the ability to tender for a wider range of work beyond the capability of small and mid-sized contractors’ current equipment fleets – is driving the market for flexible, short-term rental offerings.
‘This is just the start,’ continued Mr Karlsson. ‘Over time, we will expand across the US, and introduce other short-term rental equipment for construction, tunnelling, quarrying, and mining.’
Sandvik’s fleet of all-new machines are supported by manufacturer service contracts and genuine parts for the duration of the rental agreement, with Sandvik rock tools also available.