GAM says ‘Reviver’ plant will reduce fleet investment
06 March 2024
Spanish rental company GAM said its ‘Reviver’ remanufacturing plant will substantially reduce the company’s annual feel capital expenditure by giving a second life to its machines.
The 200,000m2 facility, in a former ceramics factory in Villacé, close to León in North West Spain, will focus on forklift trucks and will have the capacity to rebuild 3,000 units a year. GAM said it will be the largest such facility in Europe.
![GAM's new Reviver remanufacturing facility. (Image: GAM)](/Images/270xany/20240306-121426-GAMreviver.jpg)
The company’s investment in the plant comes at a time of improving financial performance, with annual revenues for 2023 up 26% to €280.9 million, and a 26% increase in EBITDA profits to €73.7 million. Net profit was €9 million.
Short term rentals remains the largest component of GAM’s business, growing by 18% last year to €106.9 million, with long term/outsourcing rentals up 42% to €68.9 million. Its sales and after-sales business – which includes sales of forklift trucks – grew by 37% to €105.1 million.
GAM said its international businesses all reported double-digit growth. It operates in Portugal, Morocco, Saudi Arabia, Colombia, Mexico, Chile, Peru and the Dominican Republic.
![GAM's Reviver facility in Spain. (Photo: GAM)](/Images/270xany/20240306-121540-Reviver1024x458.jpg)
The company said it was seeing higher rates of growth and better returns in these countries.
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