Riwal may exit UK market
04 October 2022
After thirteen years of activity in the UK, Riwal has announced that it is “actively” considering a plan to exit the UK market.
The access rental specialist, which is present in 15 countries and has a total fleet of 20,000 MEWPs, telehandlers and forklifts said the plan would see it exit the market from 1 January 2023.
The company said the decision was based on the long-term outlook of the UK rental market and Riwal UK’s small market position. Riwal currently employs 51 staff in the UK, compared to its 1,400 employees in total.
Pedro Torres, CEO, Riwal Holding Group, said, “We do not see a viable long-term business for our operations, given the fierce market conditions and our limited market share.
“We have always experienced strong support from our highly qualified staff, however the UK market does not show the same performance and growth that we see in many of our other operations.
“We will of course be consulting with the employees and their representatives on the plan before any decision is finalised.”
When asked if Brexit had played a part in its decision making, Riwal said it was about “UK market conditions, combined with Riwal’s limited market share.”