PARK RIDGE, NJ, Apr 02 (MARKET WIRE) --
Hertz Global Holdings, Inc. (NYSE: HTZ) announced that its Hertz Rent a Car
(RAC) brand in Europe has acquired the vehicle rental businesses of its
franchise partner Rentex Autopujcovna a.s. in the Czech Republic and of
Rentex's subsidiary Car Solutions s.r.o. in Slovakia. The move provides
Hertz, the leading general use car rental brand, with a strong corporate
foothold in Central and Eastern Europe.
Rentex has been a Hertz RAC franchisee in the Czech Republic since 1990
andCar Solutions since 1993. The acquired businesses have estimated revenues of
10EUR million ($US 16 million) for 2008. There are 10 locations in total,
including the airport and downtown locations of Prague and Brno in the Czech
Republic and Bratislava in Slovakia. All employees from Rentex and Car Solutions
will transfer to Hertz.
Hertz, the largest car rental player in the Czech Republic and Slovakia,
expects
significant growth potential in both domestic and inbound travel due to strong
economic development and rising tourism levels along with the company's
growing corporate and insurance replacement businesses. In addition, many of
the company's airline partners serve the Prague, Brno and Bratislava
airports, which are experiencing strong levels of growth in passengers from
around the world.
Mark P. Frissora, Hertz Corporation Chairman and Chief Executive Officer,
said:
"Central and Eastern Europe are developing and growing at a rapid pace,
especially following the entry of many countries in the region to the EU over
the last few years. The acquisition of Rentex and its subsidiary Car Solutions
supports the plans of Hertz to develop corporate car and van rental
businesses in this exciting market."
Michel Taride, President, Hertz International, and Executive Vice President,
Hertz Corporation, added: "The Hertz Rent A Car brand has been promoted
effectively in the Czech Republic and Slovakia by Rentex and its subsidiary
Car Solutions, each licensee partners of ours for 18 and 15 years
respectively. We look forward to building on their strong businesses as well as
look
for opportunities to expand to other countries in this region."
The Hertz Lease business continues to operate in the Czech Republic
throughits franchise partner Archer Sheridan s.r.o., a Hertz licensee in the
country
since August 2004.
The Hertz Corporation is the world's largest general use car rental brand,
operating from approximately 8,000 locations in 145 countries worldwide. Hertz
is
the number one airport car rental brand in the U.S. and at 69 major airports
in Europe, operating both corporate and licensee locations in cities and
airports
in North America, Europe, Latin America, Australia and New Zealand. In
addition,
the Company has licensee locations in cities and airports in Africa, Asia, and
the Middle East. Product and service initiatives such as Hertz #1 Club Gold(R),
NeverLost(R) customized, onboard navigation systems, SIRIUS Satellite Radio, and
unique cars and SUVs offered through the company's Prestige, Fun and Green
Collections, set Hertz apart from the competition. Hertz also operates one of
the world's largest equipment rental businesses, Hertz Equipment Rental
Corporation,offering a diverse line of equipment, including tools and supplies,
as
wellas new and used equipment for sale, to customers ranging from major
industrial
companies to local contractors and consumers through more than 360 branches in
the United States, Canada, France and Spain.
Contact:
Richard Broome
The Hertz Corporation
201-307-2486
rbroome@hertz.com
Copyright 2008, Market Wire, All rights reserved.
-0-
