Hertz Equipment Rental Corp. (HERC) and its parent company, Hertz Corp., Park Ridge, N.J., have entered into a joint venture with Saudi Arabia-based Dayim Holdings Co. Ltd. to set up equipment rental operations in Saudi Arabia. The new joint venture entity will rent and sell equipment and tools to construction and industrial markets throughout Saudi Arabia.

“The equipment rental market in Saudi Arabia is expanding rapidly, driven by heavy construction and opportunities in the petro-chemical industry. Our joint venture with Dayim Holdings will enable HERC to tap into growth throughout the country,” said Mark Frissora, Hertz chairman and CEO. “With an established presence in the Kingdom, HERC will be able to offer a one-stop shop for equipment rental and fleet management needs for this important market.”

Dayim's executive chairman, HRH Prince Khalid bin Bandar bin Sultan, said, “HERC is a global leader in the field of equipment rental, therefore we believe that it is ideally placed to serve the Kingdom's aggressive expansion plans in all relevant sectors.”

Gerald Plescia, Hertz executive vice president and president of HERC, said, “This was truly a collaborative effort as our HERC teams from the U.S., Europe, and Asia worked closely with the Dayim team to put this important business partnership together. The combined strength of these two organizations will enable outstanding growth opportunities for both and allow us to deliver the highest level of service to those customers in Saudi Arabia.”