Nixon Hire to open new depots in KSA
JV signed with Al Jeri Transportation Group
Hizam Zidan Al-Qahtani, Chairman of the Board, Aljeri Transportation Company
UK-based equipment rental company Nixon Hire has announced it will open two depots in Saudi Arabia, following signing a joint venture agreement with Al Jeri Transportation Group.
The first depot in KSA will be opened immediately in Jeddah with a further depot planned for Riyadh in the near future. Nixon Hire opened its first Middle East depot in Doha, Qatar in 2009.
According to Nixon Hire, both parties have agreed financial commitments to raise in excess of $20 million of new rental assets to ensure a wide range of modern and reliable equipment is available to customers.
“I am delighted that we are able to announce our joint venture plans with Sheikh Hizam Zidan Al-Qahtani, Chairman of Al Jeri Transportation Group. We are incredibly pleased to be working with such as well respected business and looking forward to a successful partnership,” said Graham Nixon, joint managing director.
“We have already been working together for quite a number of months to finalise our business plans, so it’s great that we can now release details about the expansion of the Nixon Hire depot network in the Middle East.”
“In the five years we’ve been trading [in the Middle East] we’ve continued to learn a lot about the market differences in comparison to the UK and successfully adapted our business model accordingly.”
“We have seen our customer base develop and grow very quickly and we are confident that this is as a result of good quality equipment and excellent customer service provided by our team. As well as growth in rental activity we have also seen a steady increase in used equipment sales.”
