RAMIRENT PLC STOCK EXCHANGE RELEASE 8.1.2008
RAMIRENT ENTERS SLOVAKIA
Ramirent has acquired a majority stake in the Slovak-based company OTS
Bratislava, spol.sr.o. (OTS), a leading provider of rental equipment services
for Slovak construction companies. This is an important strategic step for
Ramirent, offering unique opportunities for profitable growth in the new market.
The company employs 135 people and is expected to generate sales of over EUR 10
million in 2008.
Founded in 1973, OTS has grown to become the leading provider of rental
equipment services for Slovak construction companies operating in domestic
market or abroad. Ramirent has acquired 60% of the shares of the company with an
option to increase its holding to 100% after 2010. The company management will
continue with the company.
OTS main activities include rent, repair and sale of construction equipment.
Headquartered in Bratislava, the company operates through a network of 40 depots
throughout the country (half of the depots are franchised). The acquisition is
in line with the Ramirent's strategy to grow in Central and Eastern Europe and
brings great benefits to the Group including a market leading position in
Slovakia with a committed management team and access to skilled personnel. The
Slovak rental market is still at an early stage of its development and OTS
nationwide network provides a very good platform for developing further the
rental market in Slovakia.
"We are very happy to cover yet one white spot for us in Central Europe. A fast
growing economy, political stability and a competitive workforce make Slovakia
one of the most attractive economies in Europe,” says Tomasz Walawender, Vice
President, Ramirent Central Europe. “We welcome OTS with great enthusiasm into
the Ramirent Group. It has been positioned as the market leader in Slovakia for
several years and there is no other company in Slovakia with a similar wide
range of products and geographical spread. Adding Ramirent products to the range
will enhance the offering further. Operationally the acquisition also presents
opportunities for synergies between OTS and Ramirent companies in the
neighbouring countries, especially Czech Republic where there is no language
barrier.”
Construction activity is at a high level in Slovakia backed by the fast growing
economy. Ramirent estimates the Slovak rental market to grow at a double digit
growth rate for the next 5-10 years reflecting the demand for improved
infrastructure, new houses and dwellings.
An international teleconference will be arranged today on 8 January 2008 at 4.00
p.m. Finnish time (2.00 p.m. London time). The dial-in number is +44-(0)20 7162
0025. Please call in at 3.50 p.m. Presentation material will be available at
www.ramirent.com. A replay of the teleconference will be available for the next
48 hours at +44-(0)20 7031 4064, code 780113. An audio recording of Mr Kallio's
presentation at the teleconference will be available on the Internet later on 8
January. The conferences are hosted by Ramirent's CEO & President Kari Kallio,
CFO Heli Iisakka and Communications Director Franciska Janzon.
Further information can be obtained from:
Kari Kallio, President and CEO, phone +358 40 716 1832
Heli Iisakka, CFO, phone
+358 20 750 3248
Ramirent is the leading machinery rental company in the Nordic countries, and in
Central and Eastern Europe. The Group employs over 3,500 people at 340 permanent
depots in 13 countries. In 2006 the consolidated net sales were 498 million.
Ramirent is listed on the OMX Nordic Exchange Helsinki.
DISTRIBUTION
OMX Nordic Exchange Helsinki
Main news media
www.ramirent.com
