standards for the equipment rental market and can still evolve
to add equipment and features designed to enhance our customers'
exposure to Herc Rentals."
about Herc Holdings Inc.
)
Herc Holdings Inc., that provides managed through its Herc Rentals Inc. as well as the continuing mother or father associated with Herc
Rentals Inc. As
an independent company, Herc Rentals now gets the monetary along with
operat ional flexibility to become able to pursue strategies that are particular to the
equipment rental business.
"With concentrated resources, sector experience across the leadership team,
premium products across an extensive variety of industries as well as
end-use markets, as well as the support of our devoted employees, we are
positioned to supply better still service and all round value regarding our
consumers and to deliver enhanced value to always be able to our shareholders."
Silber will be joined with a leadership team using deep knowledge of the
equipment rental market and also significant functional experience and
expertise:
Bruce Dressel - Senior Vice President and Chief Operating Officer
Barbara Brasier - Senior Vice President and Chief Monetary Officer
Chris Cunningham - Senior Vice President and Chief Recruiting
Officer
Rich Marani - Senior Vice President and also Chief Info Officer
Maryann Waryjas - Senior Vice President, Chief Legal Officer and
Secretary
"We will always broaden our operations also to make investments in every areas regarding
our business, including cool product lines like ProContractor ToolsTM
along with ProTruckTM line of commercial vehicles, for you to complement our
large selection of premium general equipment products," additional Silber. Herc Holdings shares now
represent ownership regarding the equipment rental business, which will function
via Herc Rentals, on the stand-alone basis.
Absolutely No fractional shares will be issued throughout connection using some of your
transactions. Details regarding cash payments to become produced in lieu associated with
fractional shares can always be found with http://ir.HercRentals.com
along with http://ir.hertz.com/.
"We are usually thrilled to begin the particular subsequent chapter inside the history of our own
company," stated Larry Silber, president and also chief executive officer. the
company has approximately 4,600 employees. "We
are usually strategically positioned to create above-market growth together with
significant opportunities for operational along with economic improvement. most notably, our enterprise-wide `Herc Way'
operating model ensures a steady branch-to-branch approach in order to
managing, servicing as well as repairing our fleet as well as rapidly will get equipment
ready in order to rent, which will greatly enhance our opportunities to serve
a lot more customers.
"We tend to be excited to be able to shape our long term as getting a customer-focused along with
operationally superb company serving diverse markets," Silber said. Hertz Renta l Auto Holding
Company, Inc. We caution
visitors never to place undue attachment to these statements, which in turn talk
merely as with the date hereof. (Herc Rentals), announced these days the particular achievement involving its
separation from the Hertz auto rental company and its debut being an
independent, publicly traded corporation. With Regard To more details on Herc
Holdings along with its goods along with services, visit: www.HercRentals.com.
Forward-Looking Statements
This kind of release contains statements in which are not statements involving historical
fact, but rather are forward-looking statements inside madness involving
your U.S. (NYSE:HRI), the equipment rental organization formerly
named Hertz Global Holdings, Inc. Your company's equipment rental enterprise spans a lot much more than 50
years, having a mission in order to make positive that customers of its equipment an d
solutions attain optimal performance safely, effectively and also effectively.
to effect your separation as part of a tax-free spinoff, Hertz Global
Holdings stockholders as in the June 22, 2016 record date received
shares in Hertz Rental car Holding Company, Inc., on June 30, 2016 at a
charge of 1 talk about for every 5 shares held.
BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Herc Holdings Inc. 4 with the Form 10 regarding
Hertz Rental Vehicle Holding Company, Inc., filed with the Securities as well as
Exchange Commission on Could 27, 2016, such as: we haven't any operating
history as becoming a stand-alone public company, along with our historical and also pro
forma economic information just isn't necessarily representative of the
outcomes that people might have achieved as becoming a separate, publicly traded
business and might certainly not be a dependable indicator of our own future resu lts, given
the particular incremental costs we will incur, your decline in purchasing energy we
could experience, and the liabilities we now have assumed throughout link together with
the spin-off; if there will be a determination in which any part of the
spin-off transaction is actually taxable pertaining to U.S. Most forward-looking statements are generally subject
in order to numerous assumptions, risks and also uncertainties which in turn could cause our
actual results in order to differ materially through individuals suggested by the
forward-looking statements, including these set forth in our Info
Statement filed as Exhibit 99.1 towards the Amendment No. Private Securities Litigation Reform Act associated with 1995. We do not really
undertake virtually any obligation in order to release publicly any update or even revision to end up being able to
any of the actual forward-looking statements.
.
subsidiary for upwards of 50 years, can be among the leading equipment rental
suppliers inside America with approximately 280 company-operated
branches, principally positioned in North America. Herc Holdings' 2015 total revenues as reported in the
just lately filed information Statement, were almost $1.7 billion. federal income tax purposes
we and our stockholders could incur significant tax liabilities,
and also we're in a position to furthermore incur indemnification liability if we're determined
to have caused the actual spin-off in order to grow to be able to be taxable; we might not accomplish several
or perhaps just about all with the expected benefits of the spin-off, the actual assets and also
sources that we retain is possibly not sufficient for almost all involving us to function like a
stand-alone company, we is most likely not productive implementing our strategy
of further decreas ing operating costs and also our price reduction initiatives
might possess adverse consequences; our success being an independent business
will depend on our new senior management team, the particular capacity associated with some other new
employees to learn their particular new roles, our ability to retain crucial members regarding
our senior management team as well as other crucial personnel and to attract key
personnel; our ability to engage inside financings, acquisitions along using other
strategic transactions using equity securities is restricted credited to the tax
remedy of the spin-off; the particular spin-off may become challenged by creditors
as being a fraudulent transfer as well as conveyance; when the spin-off can be not a legal
dividend, it might be held invalid by way of a court and also possess a material
adverse impact in our business, financial issue and results; as becoming a
stand-alone public company, our securities have no prior public market,
an active trading industry might not develop, pricing will be uncertain as well as the
rate of our widespread stock could fluctuate significantly; our
accounting as well as other management systems and also sources may not really be
adequately willing to fulfill the ongoing economic reporting along using other
requirements; industry value of our own common stock could decline as getting a
consequence of your sale or perhaps distribution of your huge quantity of shares of our own
typical stock or possibly the perception that sales or perhaps distribution could occur;
some or almost all in our deferred tax assets could expire if we expertise an
"ownership change" as defined in the Internal revenue Code; our
substantial amount of indebtedness could materially adversely affect our
monetary issue and also ability to raise extra money to finance our
operations, limit our power to react to changes in the economy or perhaps our
sector or perhaps materially adversely affect our results, liquidity as well as
capability to compete; your secured naturel of our indebtedness, which is
secured through substantially all in our consolidated assets, could
materially adversely affect our enterprise and holders of our own credit card debt along with
equity; the variety of company risks could possess material adverse results
upon our business, results involving operations, monetary issue and/or
liquidity, such as the particular cyclicality of our business, the slowdown inside
worldwide economic circumstances or perhaps adverse changes in the economic elements
particular towards the industries where we operate, intense competition inside
your industry, such as via our personal suppliers, just about any decline within our
relatio ns together with our key national account or even industrial account customers
or maybe the amount of kit that they rent via us, just about any occurrence in which
disrupts rental exercise during our peak intervals (given your seasonality
in the business, especially in the construction industry), as well as any
inability to buy sufficient materials involving competitively priced
equipment or to collect in contracts together with customers; your restatement associated with
our formerly issued financial statements could expose us in order to additional
risks that will could materially adversely affect our financial position,
results involving operations and money flows; we've identified material
weaknesses within our internal treating economic reporting that, or even
remediated, might adversely affect our power to report our monetary
condition along with outcomes involving operations inside a timel y and also accurate manner,
which can adversely affect investor confidence throughout our company and, like a
result, the worth of our widespread stock; the restatement in our previously
issued financial outcomes has resulted in government investigations,
publications and records demands, and also private litigation and could bring about
government enforcement actions as well as private litigation in which could use a
material adverse effect on our results involving operations, monetary
condition, liquidity and funds flows; our enterprise is heavily reliant
upon communications networks and centralized info technologies
methods and in addition the concentration of our techniques creates risks with regard to us; as well as
some other risks and also uncertainties set forth inside the Details Statement
below "Risk Factors." Just About All forward-looking statements are generally expressly
qua lified in their completely simply by such cautionary statements.
"In addition, our new ProSolutionsTM company provides
specialty equipment, technical expertise, along with full-service, on-site
support to solve our customers' toughest challenges.
"We may in addition be advancing processes and resources built to drive steady
improvement across our organization and to provide a higher degree of service
regarding our customers.
"I'm in addition very happy to note that our initial day as an independent business
coincides using the launch of several main technology platforms,
including our new site
as well as mobile app. the equipment rental business is
supported simply by ProSolutionsTM, our business certain
solutions-based services, and also our skilled grade tools, commercial
vehicles, pump, energy along with climate control product offerings, just about all associated with
t hat are targeted at helping consumers work more efficiently, effectively
and safely. has changed its identify to always be able to Hertz Global Holdings, Inc., and also
begins trading "regular way" today about the new York Stock Exchange under
your symbol "HTZ."
The Particular shares in the former Hertz Global Holdings, now known as Herc
Holdings Inc., were adjusted for a 1-for-15 reverse stock split that features been
implemented immediately following the separation. the company's widespread stock
begins trading "regular way" nowadays about the The Huge Apple Stock Exchange beneath
the symbol "HRI."
Herc Rentals can become a premier, full-line equipment-rental firm using
approximately 280 company-operated branches, principally situated in
North America, greater than 4,600 employees and 2015 revenues associated with nearly
$1.7 billion. Herc Holdings is actually a
full-line equipmen t-rental supplier within key markets, such as commercial
as well as residential construction, industrial along with manufacturing, refineries
along with petrochemicals, civil infrastructure, automotive, government as well as
municipalities, energy, remediation, emergency response, facilities,
entertainment along with agriculture
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