Herc Rentals Completes Separation from Hertz Car Rental Business; Becomes an Independent, Publicly Traded Company
(NYSE:HRI), the equipment rental company formerly
named Hertz Global Holdings, Inc. Private Securities Litigation Reform Act of 1995. Herc Holdings is really a
full-line equipment-rental supplier in important markets, such as commercial
and also residential construction, industrial as well as manufacturing, refineries
along with petrochemicals, civil infrastructure, automotive, government along with
municipalities, energy, remediation, emergency response, facilities,
entertainment along with agriculture. (Herc Rentals), announced these days the particular conclusion of its
separation in the Hertz vehicle rental enterprise as well as its debut as an
independent, publicly traded corporation. We do certainly not
undertake virtually any obligation for you to release publicly any kind of update or revision in order to
any one of the actual forward-looking statements.
. Hertz Rental Automobile Holding
Company, Inc. Your
organization offers approximately 4,600 employees. The Actual company's common stock
begins trading "regular way" today on the The big Apple Stock Exchange beneath
the particular symbol "HRI."
Herc Rentals can be a premier, full-line equipment-rental firm along with
approximately 280 company-operated branches, principally situated in
North America, greater than 4,600 employees and also 2015 revenues of nearly
$1.7 billion. Herc Holdings' 2015 total revenues as reported within the
not too long ago filed Info Statement, had been nearly $1.7 billion. and in addition the continuing parent associated with Herc
Rentals Inc. the mobile app sets new technologies as well as user-experience
standards for that equipment rental industry and can alw ays evolve
to include resources as well as features designed to improve our customers'
knowledge about Herc Rentals."
about Herc Holdings Inc.
Herc Holdings Inc., which has managed by means of its Herc Rentals Inc.
"I'm furthermore very happy to note our 1st day as any possible independent company
coincides with just about all the launch of various major technologies platforms,
which includes our new website
and also mobile app.
subsidiary for upwards of 50 years, will be among the leading equipment rental
suppliers within America with approximately 280 company-operated
branches, principally positioned in North America. most notably, our enterprise-wide `Herc Way'
operating model ensures the steady branch-to-branch approach to
managing, servicing and also repairing our fleet as well as rapidly will get equipment
ready for you to rent, that will greatly boost our the possibli lity to serve
more customers.
"We are usually excited to shape our future like a customer-focused along with
operationally excellent business serving diverse markets," Silber said. We caution
viewers never to location undue reliance upon these statements, which talk
simply as with the date hereof. "We
are usually strategically positioned for you to create above-market growth with
significant possibilities pertaining to operational along with economic improvement. 4 in the Form 10 regarding
Hertz Rental Automobile Holding Company, Inc., filed with the Securities and also
Exchange Commission about Might 27, 2016, such as: we have no operating
history as a stand-alone public company, and our historical along with pro
forma economic info isn't necessarily representative of the
results that we could have achieved as a separate, publicly traded
company as well as might not be a dependabl e indicator in our future results, given
your incremental costs we'll incur, your decline in purchasing energy we
could experience, as well as the liabilities we've assumed within connection using
the particular spin-off; if there will be a determination which virtually any portion with the
spin-off transaction can be taxable regarding U.S. Details relating to cash payments to become produced in lieu of
fractional shares are available from http://ir.HercRentals.com
and also http://ir.hertz.com/.
"We are thrilled to start the particular subsequent chapter within the history in our
company," mentioned Larry Silber, president and chief executive officer. has changed its identify to be able to Hertz Global Holdings, Inc., and also
begins trading "regular way" today on the Ny Stock Exchange beneath
the symbol "HTZ."
the shares with the former Hertz Global Holdings, now known as Herc
Holdings Inc ., had been adjusted for a 1-for-15 reverse stock split which was
implemented right away following your separation. The Particular company's equipment rental company spans a lot a lot more than 50
years, using a mission to ensure that end users of its equipment and also
solutions achieve optimal performance safely, effectively along with effectively.
For You To impact your separation as part of a tax-free spinoff, Hertz Global
Holdings stockholders as of the June 22, 2016 record date received
shares throughout Hertz Rental car Holding Company, Inc., upon June 30, 2016 with a
charge of one discuss for every as well as every five shares held.
BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Herc Holdings Inc. The Particular equipment rental enterprise will be
supported by ProSolutionsTM, our sector certain
solutions-based services, and our expert grade tools, commercial
vehicles, pump, power and climate contr ol product offerings, just about all associated with
which are aimed at helping clients work more efficiently, effectively
as well as safely. Because
an independent company, Herc Rentals now gets the economic and also
operational flexibility in order to pursue strategies which are certain to the
equipment rental business.
"With concentrated resources, industry experience across the leadership team,
premium services and also products across a broad array of industries along with
end-use markets, and furthermore the support in our devoted employees, we possess been
positioned to provide better yet service as well as overall worth for our
clients and to carry enhanced value to our shareholders."
Silber is actually joined by a leadership team along with deep knowledge of the
equipment rental sector along with significant useful encounter and
expertise:
Bruce Dressel - Senior Vice President as well as Chief Operating Officer
Barbara Brasier - Senior Vice President and also Chief Economic Officer
Chris Cunningham - Senior Vice President as well as Chief Hr
Officer
Rich Marani - Senior Vice President and also Chief Info Officer
Maryann Waryjas - Senior Vice President, Chief Legal Officer and also
Secretary
"We will always broaden our operations also to invest in all areas associated with
our business, including new product lines like ProContractor ToolsTM
and ProTruckTM collection regarding commercial vehicles, for you to complement our
significant selection of premium general equipment products," extra Silber. Herc Holdings shares now
represent ownership regarding the equipment rental business, that will function
via Herc Rentals, on a stand-alone basis.
Simply No fractional shares will be issued within link with some of your
transactions. federal income tax purposes
we and our stockholders could incur significant tax liabilities,
and also we could additionally incur indemnification liability if we have got been decided
to possess caused your spin-off in order to turn out to be taxable; we may not accomplish a few
or perhaps almost all of the expected benefits of your spin-off, the particular assets as well as
sources that individuals retain may not be sufficient for us to function like a
stand-alone company, we may not be effective implementing our strategy
regarding further lowering operating expenses along with our price reduction initiatives
may possess adverse consequences; our success as an impartial organization
will depend on our new senior management team, the actual capacity involving addit ional new
employees to learn his or her new roles, our ability to retain key members of
our senior management team and other important personnel also to attract key
personnel; our ability to engage inside financings, acquisitions as well as other
strategic transactions utilizing equity securities is limited credited to the tax
remedy of the spin-off; your spin-off may be challenged through creditors
as a fraudulent transfer or perhaps conveyance; when the spin-off is actually not truly a legal
dividend, it might be held invalid by a court as well as have a material
adverse effect about our business, economic condition and also results; as a
stand-alone public company, our securities don't have got any prior public market,
an energetic trading market might not develop, pricing is actually uncertain and furthermore the
rate of our own typical stock may fluctuate significantly; our
accountin g as well as other management techniques as well as resources is possibly not
adequately willing to meet the ongoing economic reporting along with other
requirements; industry price of our common stock could decline as becoming a
consequence of your sale or distribution of your big variety of shares in our
common stock or the perception which sales as well as distribution could occur;
a number of or even almost all in our deferred tax assets could expire if we encounter an
"ownership change" as defined in the Internal revenue Code; our
significant level of indebtedness could materially adversely affect our
financial situation along with capability to raise further capital to spend in our
operations, restrict our power to react for you to changes in the economy as well as our
business or materially adversely affect our results, liquidity as well as
capability to compete; the actual secured naturel in our indebtedness, which can easily be
secured simply by substantially just about all of our consolidated assets, could
materially adversely affect our company and also holders of our financial debt along with
equity; the number of enterprise risks could get material adverse effects
on our business, outcomes involving operations, economic situation and/or
liquidity, such as the particular cyclicality in our business, any slowdown throughout
worldwide economic circumstances as well as adverse changes in the economic aspects
certain towards the industries by which we operate, intense competition inside
the industry, such as via our really own suppliers, any decline in our
relations along with our important national account or perhaps industrial account customers
or even the amount of equipment these people rent via us, any kind of occurrence that
disrupts rental exercise throughout our peak peri ods (given your seasonality
in the business, especially inside the construction industry), or just about any
inability to purchase adequate materials associated with competitively priced
equipment or to collect on contracts together with customers; the actual restatement associated with
our previously issued economic statements could expose us to end up being able to extra
risks in which could materially adversely affect our economic position,
outcomes associated with operations and cash flows; we have identified material
weaknesses inside our internal treating economic reporting that, otherwise
remediated, may adversely affect our capability to document our monetary
situation and results involving operations inside a timely and accurate manner,
which may adversely affect investor confidence inside our company and, as a
result, the worthiness of our common stock; the restatement of our own former ly
issued monetary results provides resulted in government investigations,
publications and also records demands, and private litigation and may lead to
government enforcement actions as well as private litigation in which could have a
material adverse effect on our results associated with operations, monetary
condition, liquidity and funds flows; our business is heavily reliant
upon communications networks and also centralized info technologies
techniques as well as the concentration in our systems creates risks with regard to us; along with
various other risks along with uncertainties set forth within the information Statement
under "Risk Factors." Most forward-looking statements are generally expressly
qualified in their completely through such cautionary statements. Almost All forward-looking statements are subject
in order to numerous assumptions, risks along with uncertainties that could tr igger our
actual outcomes in order to differ materially through these suggested through the
forward-looking statements, which includes individuals set forth inside our Info
Statement filed as Exhibit 99.1 towards the Amendment No.
"In addition, our new ProSolutionsTM enterprise provides
specialty equipment, technical expertise, and full-service, on-site
support in order to solve our customers' toughest challenges.
"We will additionally be advancing processes as well as equipment built to drive continuous
improvement across our organization also to provide a higher amount of services
for our customers. for more info about Herc
Holdings as well as its goods and services, visit: www.HercRentals.com.
Forward-Looking Statements
This launch contains statements that are not statements regarding historical
fact, but alternatively tend to be forward-looking statements inside the meaning invol ving
the actual U.S
named Hertz Global Holdings, Inc. Private Securities Litigation Reform Act of 1995. Herc Holdings is really a
full-line equipment-rental supplier in important markets, such as commercial
and also residential construction, industrial as well as manufacturing, refineries
along with petrochemicals, civil infrastructure, automotive, government along with
municipalities, energy, remediation, emergency response, facilities,
entertainment along with agriculture. (Herc Rentals), announced these days the particular conclusion of its
separation in the Hertz vehicle rental enterprise as well as its debut as an
independent, publicly traded corporation. We do certainly not
undertake virtually any obligation for you to release publicly any kind of update or revision in order to
any one of the actual forward-looking statements.
. Hertz Rental Automobile Holding
Company, Inc. Your
organization offers approximately 4,600 employees. The Actual company's common stock
begins trading "regular way" today on the The big Apple Stock Exchange beneath
the particular symbol "HRI."
Herc Rentals can be a premier, full-line equipment-rental firm along with
approximately 280 company-operated branches, principally situated in
North America, greater than 4,600 employees and also 2015 revenues of nearly
$1.7 billion. Herc Holdings' 2015 total revenues as reported within the
not too long ago filed Info Statement, had been nearly $1.7 billion. and in addition the continuing parent associated with Herc
Rentals Inc. the mobile app sets new technologies as well as user-experience
standards for that equipment rental industry and can alw ays evolve
to include resources as well as features designed to improve our customers'
knowledge about Herc Rentals."
about Herc Holdings Inc.
Herc Holdings Inc., which has managed by means of its Herc Rentals Inc.
"I'm furthermore very happy to note our 1st day as any possible independent company
coincides with just about all the launch of various major technologies platforms,
which includes our new website
and also mobile app.
subsidiary for upwards of 50 years, will be among the leading equipment rental
suppliers within America with approximately 280 company-operated
branches, principally positioned in North America. most notably, our enterprise-wide `Herc Way'
operating model ensures the steady branch-to-branch approach to
managing, servicing and also repairing our fleet as well as rapidly will get equipment
ready for you to rent, that will greatly boost our the possibli lity to serve
more customers.
"We are usually excited to shape our future like a customer-focused along with
operationally excellent business serving diverse markets," Silber said. We caution
viewers never to location undue reliance upon these statements, which talk
simply as with the date hereof. "We
are usually strategically positioned for you to create above-market growth with
significant possibilities pertaining to operational along with economic improvement. 4 in the Form 10 regarding
Hertz Rental Automobile Holding Company, Inc., filed with the Securities and also
Exchange Commission about Might 27, 2016, such as: we have no operating
history as a stand-alone public company, and our historical along with pro
forma economic info isn't necessarily representative of the
results that we could have achieved as a separate, publicly traded
company as well as might not be a dependabl e indicator in our future results, given
your incremental costs we'll incur, your decline in purchasing energy we
could experience, as well as the liabilities we've assumed within connection using
the particular spin-off; if there will be a determination which virtually any portion with the
spin-off transaction can be taxable regarding U.S. Details relating to cash payments to become produced in lieu of
fractional shares are available from http://ir.HercRentals.com
and also http://ir.hertz.com/.
"We are thrilled to start the particular subsequent chapter within the history in our
company," mentioned Larry Silber, president and chief executive officer. has changed its identify to be able to Hertz Global Holdings, Inc., and also
begins trading "regular way" today on the Ny Stock Exchange beneath
the symbol "HTZ."
the shares with the former Hertz Global Holdings, now known as Herc
Holdings Inc ., had been adjusted for a 1-for-15 reverse stock split which was
implemented right away following your separation. The Particular company's equipment rental company spans a lot a lot more than 50
years, using a mission to ensure that end users of its equipment and also
solutions achieve optimal performance safely, effectively along with effectively.
For You To impact your separation as part of a tax-free spinoff, Hertz Global
Holdings stockholders as of the June 22, 2016 record date received
shares throughout Hertz Rental car Holding Company, Inc., upon June 30, 2016 with a
charge of one discuss for every as well as every five shares held.
BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Herc Holdings Inc. The Particular equipment rental enterprise will be
supported by ProSolutionsTM, our sector certain
solutions-based services, and our expert grade tools, commercial
vehicles, pump, power and climate contr ol product offerings, just about all associated with
which are aimed at helping clients work more efficiently, effectively
as well as safely. Because
an independent company, Herc Rentals now gets the economic and also
operational flexibility in order to pursue strategies which are certain to the
equipment rental business.
"With concentrated resources, industry experience across the leadership team,
premium services and also products across a broad array of industries along with
end-use markets, and furthermore the support in our devoted employees, we possess been
positioned to provide better yet service as well as overall worth for our
clients and to carry enhanced value to our shareholders."
Silber is actually joined by a leadership team along with deep knowledge of the
equipment rental sector along with significant useful encounter and
expertise:
Bruce Dressel - Senior Vice President as well as Chief Operating Officer
Barbara Brasier - Senior Vice President and also Chief Economic Officer
Chris Cunningham - Senior Vice President as well as Chief Hr
Officer
Rich Marani - Senior Vice President and also Chief Info Officer
Maryann Waryjas - Senior Vice President, Chief Legal Officer and also
Secretary
"We will always broaden our operations also to invest in all areas associated with
our business, including new product lines like ProContractor ToolsTM
and ProTruckTM collection regarding commercial vehicles, for you to complement our
significant selection of premium general equipment products," extra Silber. Herc Holdings shares now
represent ownership regarding the equipment rental business, that will function
via Herc Rentals, on a stand-alone basis.
Simply No fractional shares will be issued within link with some of your
transactions. federal income tax purposes
we and our stockholders could incur significant tax liabilities,
and also we could additionally incur indemnification liability if we have got been decided
to possess caused your spin-off in order to turn out to be taxable; we may not accomplish a few
or perhaps almost all of the expected benefits of your spin-off, the particular assets as well as
sources that individuals retain may not be sufficient for us to function like a
stand-alone company, we may not be effective implementing our strategy
regarding further lowering operating expenses along with our price reduction initiatives
may possess adverse consequences; our success as an impartial organization
will depend on our new senior management team, the actual capacity involving addit ional new
employees to learn his or her new roles, our ability to retain key members of
our senior management team and other important personnel also to attract key
personnel; our ability to engage inside financings, acquisitions as well as other
strategic transactions utilizing equity securities is limited credited to the tax
remedy of the spin-off; your spin-off may be challenged through creditors
as a fraudulent transfer or perhaps conveyance; when the spin-off is actually not truly a legal
dividend, it might be held invalid by a court as well as have a material
adverse effect about our business, economic condition and also results; as a
stand-alone public company, our securities don't have got any prior public market,
an energetic trading market might not develop, pricing is actually uncertain and furthermore the
rate of our own typical stock may fluctuate significantly; our
accountin g as well as other management techniques as well as resources is possibly not
adequately willing to meet the ongoing economic reporting along with other
requirements; industry price of our common stock could decline as becoming a
consequence of your sale or distribution of your big variety of shares in our
common stock or the perception which sales as well as distribution could occur;
a number of or even almost all in our deferred tax assets could expire if we encounter an
"ownership change" as defined in the Internal revenue Code; our
significant level of indebtedness could materially adversely affect our
financial situation along with capability to raise further capital to spend in our
operations, restrict our power to react for you to changes in the economy as well as our
business or materially adversely affect our results, liquidity as well as
capability to compete; the actual secured naturel in our indebtedness, which can easily be
secured simply by substantially just about all of our consolidated assets, could
materially adversely affect our company and also holders of our financial debt along with
equity; the number of enterprise risks could get material adverse effects
on our business, outcomes involving operations, economic situation and/or
liquidity, such as the particular cyclicality in our business, any slowdown throughout
worldwide economic circumstances as well as adverse changes in the economic aspects
certain towards the industries by which we operate, intense competition inside
the industry, such as via our really own suppliers, any decline in our
relations along with our important national account or perhaps industrial account customers
or even the amount of equipment these people rent via us, any kind of occurrence that
disrupts rental exercise throughout our peak peri ods (given your seasonality
in the business, especially inside the construction industry), or just about any
inability to purchase adequate materials associated with competitively priced
equipment or to collect on contracts together with customers; the actual restatement associated with
our previously issued economic statements could expose us to end up being able to extra
risks in which could materially adversely affect our economic position,
outcomes associated with operations and cash flows; we have identified material
weaknesses inside our internal treating economic reporting that, otherwise
remediated, may adversely affect our capability to document our monetary
situation and results involving operations inside a timely and accurate manner,
which may adversely affect investor confidence inside our company and, as a
result, the worthiness of our common stock; the restatement of our own former ly
issued monetary results provides resulted in government investigations,
publications and also records demands, and private litigation and may lead to
government enforcement actions as well as private litigation in which could have a
material adverse effect on our results associated with operations, monetary
condition, liquidity and funds flows; our business is heavily reliant
upon communications networks and also centralized info technologies
techniques as well as the concentration in our systems creates risks with regard to us; along with
various other risks along with uncertainties set forth within the information Statement
under "Risk Factors." Most forward-looking statements are generally expressly
qualified in their completely through such cautionary statements. Almost All forward-looking statements are subject
in order to numerous assumptions, risks along with uncertainties that could tr igger our
actual outcomes in order to differ materially through these suggested through the
forward-looking statements, which includes individuals set forth inside our Info
Statement filed as Exhibit 99.1 towards the Amendment No.
"In addition, our new ProSolutionsTM enterprise provides
specialty equipment, technical expertise, and full-service, on-site
support in order to solve our customers' toughest challenges.
"We will additionally be advancing processes as well as equipment built to drive continuous
improvement across our organization also to provide a higher amount of services
for our customers. for more info about Herc
Holdings as well as its goods and services, visit: www.HercRentals.com.
Forward-Looking Statements
This launch contains statements that are not statements regarding historical
fact, but alternatively tend to be forward-looking statements inside the meaning invol ving
the actual U.S
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