PARK RIDGE, NJ -- 04/02/08 --
Hertz Global Holdings, Inc. (NYSE: HTZ)
announced that its Hertz Rent a Car (RAC) brand in Europe has acquired the
vehicle rental businesses of its franchise partner Rentex Autopujcovna a.s.
in the Czech Republic and of Rentex's subsidiary Car Solutions s.r.o. in
Slovakia. The move provides Hertz, the leading general use car rental
brand, with a strong corporate foothold in Central and Eastern Europe.
Rentex has been a Hertz RAC franchisee in the Czech Republic since 1990 and
Car Solutions since 1993. The acquired businesses have estimated revenues
of 10EUR million ($US 16 million) for 2008. There are 10 locations in
total, including the airport and downtown locations of Prague and Brno in
the Czech Republic and Bratislava in Slovakia. All employees from Rentex
and Car Solutions will transfer to Hertz.
Hertz, the largest car rental player in the Czech Republic and Slovakia,
expects significant growth potential in both domestic and inbound travel
due to strong economic development and rising tourism levels along with the
company's growing corporate and insurance replacement businesses. In
addition, many of the company's airline partners serve the Prague, Brno and
Bratislava airports, which are experiencing strong levels of growth in
passengers from around the world.
Mark P. Frissora, Hertz Corporation Chairman and Chief Executive Officer,
said: "Central and Eastern Europe are developing and growing at a rapid
pace, especially following the entry of many countries in the region to the
EU over the last few years. The acquisition of Rentex and its subsidiary
Car Solutions supports the plans of Hertz to develop corporate car and van
rental businesses in this exciting market."
Michel Taride, President, Hertz International, and Executive Vice
President, Hertz Corporation, added: "The Hertz Rent A Car brand has been
promoted effectively in the Czech Republic and Slovakia by Rentex and its
subsidiary Car Solutions, each licensee partners of ours for 18 and 15
years respectively. We look forward to building on their strong businesses
as well as look for opportunities to expand to other countries in this
region."
The Hertz Lease business continues to operate in the Czech Republic through
its franchise partner Archer Sheridan s.r.o., a Hertz licensee in the
country since August 2004.
The Hertz Corporation is the world's largest general use car rental brand,
operating from approximately 8,000 locations in 145 countries worldwide.
Hertz is the number one airport car rental brand in the U.S. and at 69
major airports in Europe, operating both corporate and licensee locations
in cities and airports in North America, Europe, Latin America, Australia
and New Zealand. In addition, the Company has licensee locations in cities
and airports in Africa, Asia, and the Middle East. Product and service
initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard
navigation systems, SIRIUS Satellite Radio, and unique cars and SUVs
offered through the company's Prestige, Fun and Green Collections, set
Hertz apart from the competition. Hertz also operates one of the world's
largest equipment rental businesses, Hertz Equipment Rental Corporation,
offering a diverse line of equipment, including tools and supplies, as well
as new and used equipment for sale, to customers ranging from major
industrial companies to local contractors and consumers through more than
360 branches in the United States, Canada, France and Spain.
Contact:
Richard Broome
The Hertz Corporation
201-307-2486
rbroome@hertz.com
