ASV Holdings, Inc. Announces New Agreement with Leading Australian Rental Provider
GRAND RAPIDS, Minn.--(BUSINESS WIRE)-- ASV Holdings, Inc. (NASDAQ: ASV), a leading provider of rubber-tracked compact track loaders and wheeled skid steer loaders in the compact construction equipment market, today announced a new agreement with the largest independently owned industrial equipment rental “hire” specialist in Australia, Kennards Hire, with over 150 retail locations throughout Australia and New Zealand.
Justin Rupar, V.P. of Sales and Marketing for ASV commented, “We are pleased to announce that, after working with our Australian distribution partner, CEG Distributions, to successfully complete an extensive 18-month trial period, Kennards Hire, a pre-eminent name in the Australian equipment rental market, has approved ASV as a supplier of our RT-30 Posi-Track loaders. Kennards Hire, a family-owned, third-generation business with $336 million in 2017 revenue, a staff of over 1,400 across its 150 locations, is a dynamic company that has grown as a consolidator in the region.
“Our long term, leading presence in Australia has provided us with excellent brand recognition and a track-record of providing high quality equipment and support. We are excited to be in the position to grow with Kennards, a leading rental organization. The equipment rental market is among our top growth opportunities and strategic initiatives, and this new agreement provides an excellent channel to increased sales in this market,” concluded Mr. Rupar.
About ASV Holdings, Inc.
ASV Holdings, Inc. is a designer and manufacturer of compact construction equipment. Its patented Posi-Track rubber tracked, multi-level suspension undercarriage system provides a competitive market differentiator for its Compact Track Loader (CTL) product line with brand attributes of power, performance and serviceability. It’s wheeled Skid Steer Loaders (SSLs) also share the common brand attributes. Equipment is sold through an independent dealer network throughout North America, Australia, and New Zealand. The company also sells OEM equipment and aftermarket parts. ASV owns and operates a 238,000 square-foot production facility in Grand Rapids, MN.
Darrow Associates, Inc.
Peter Seltzberg, 516-419-9915
Managing Director, Investor Relations
ASV Holdings, Inc.
Andrew Rooke, 218-327-5389
Chief Executive Officer
Source: ASV Holdings, Inc.
Released June 27, 2018