Sandvik Mining and Rock Solutions has announced it is entering the US market with a structured rental offering that, it says, meets the needs of customers that are looking for short term, off-balance sheet solutions to fill production gaps or expand their operations, but at minimal risk.
Building on the success and learnings of its short-term rental service in Europe, Sandvik’s new US offering sees machines rented from as little as just one month.
Working in partnership with its dealer network – who tend to favour longer-term rentals – Sandvik is bringing its financial strength and ambition to be a significant player in the US rental sector, it said. Part of a long-term expansion plan for the service, the company is starting by offering Sandvik DX700 tracked drills commonly used in quarrying and highway projects.
The company is initially launching its service in five states, with Tennessee, Kentucky, Georgia, 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,” Olli Karlsson, Business Unit Manager for Rental & Used at Sandvik, said. “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.”
Karlsson continued: “This is just the start. 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, the company said.
