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News Release from: Electro Rent Europe
Edited by the Manufacturingtalk Editorial
Team on 20 March 2007
Instrument rental and leasing expansion
Demand in Europe for instrument rental and leasing, currently estimated at euro58m to euro60m, is increasing and has led Electro Rent Europe to expand its UK operation.
The continuing increase in demand in Europe for instrument rental and leasing, currently estimated at euro58m to euro60m, has led Electro Rent Europe to expand its operation into the UK The UK is the largest single market in Europe, representing a 35% to 45% share, closely followed by France at 30%
This article was originally published on Manufacturingtalk on 12 Mar 2007 at 8.00am (UK)
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Key European industry sectors for equipment rental are: aerospace and defence, wired and wireless communications, semiconductors and IT.
The highly active developments in the wireless and telecommunications industries are creating significant and fast growing opportunities for equipment rental, especially for RF, microwave and specialist network and communications test sets.
In the consumer world, emerging applications such as VOIP and IP TV are creating new technological challenges requiring specialist and innovative test solutions.
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"With shorter product lifetimes, complex supply chains, more short-term contracts, the multiplicity of standards and increasing time to market pressures, developers are having to work smarter and faster.
The benefits of renting high technology equipment have never looked more attractive", commented Martin Smith, UK Account Manager.
Founded in 1965, to rent, lease and buy back electronic test and measurement equipment, Electro Rent Corporation is the market leader in North America and Canada, with a turnover in 2005 of $115million.
The company's global equipment base includes more than 26,000 instruments from 174 manufacturers.
Electro Rent is proud of its reputation for quality of service and a highly diverse range of readily available, state-of-the-art equipment, from a broad spectrum of mainstream and specialist vendors.
Its unrivalled experience in international logistics solutions means that it can supply and deliver its equipment throughout the world and meet extremely short deadlines.
Electro Rent has also built up an excellent network of privileged relations with a large number of suppliers including: Agilent Technologies, Anritsu, Fluke, Gould, Le Croy, Megger Rohde and Schwarz, Tektronix and Yokogawa, among others.
The NASDAQ-listed company launched its European operations in January this year with offices in Mechelen, Belgium, including warehousing of 750m and a newly equipped laboratory.
Electro Rent Europe aims to become one of the main market players in electronic instrument rental in Europe within 5 years.
Significant investment is being made in the European facility, to ensure a better service for European customers, providing faster response (next day from stock), greater flexibility and more cost effective solutions.
The expanding, centralised sales teams and support networks serving Europe combined with Electro Rent's large-scale purchasing power, allow the company to offer top name products at prices significantly lower, up to 30% lower, than European customers have seen before.
Much of Electro Rent's success is due to its strategic ambition to be creative in its rental services.
By listening to its customers, the company has adapted its solutions to target markets.
Electro Rent Europe understands that requirements change during a project, from a research phase, through design, verification, production, test and diagnostics and on to field service.
For this reason, the company offers a range of options including short, medium and long-term rental, lease/rental with an option to buy, sale of reconditioned equipment and buy back schemes.
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