ASHEVILLE, N.C., Dec. 13 /PRNewswire-FirstCall/ -- For the third consecutive year, Entrepreneur Magazine has ranked Volvo Rents among its prestigious Franchise 500 rankings. Volvo Construction Equipment Rents Inc. (Volvo Rents) is the only construction equipment rental company to make the list.
Recognized by entrepreneurs and franchisors as the most comprehensive listing available, the Franchise 500 in Entrepreneur's January 2008 issue reveals for the 29th straight year the latest top-ranking franchise companies in the nation. Together, the companies ranked generated a total of $305 billion in revenue worldwide. Entrepreneur's Franchise 500 issue hits newsstands on Dec. 25, 2007.
"We are extremely proud to be listed among the world's best franchise companies," said Barry Natwick, president and chief executive officer of Volvo Rents. "We celebrate our franchise owners and the entrepreneurial spirit that resonates within each one of them. Their passion for and dedication to the construction industry is what has allowed us to grow our customer base by 50 percent per annum during the last five years." Volvo Rents, a division of Volvo Construction Equipment, the third largest construction equipment manufacturer in the world, operates 77 rental stores in North America, 66 rental stores in Europe and one in Mexico. Poised for growth in 2008, the company plans to expand into the nation's major markets where the forecast for commercial construction spending remains robust, said Nick Mavrick, vice president of global strategy, marketing and sales.
All Volvo Rents stores are independently owned and operated. The unique franchise program includes a comprehensive financing package for qualified franchisees of $5 million per store, the use of the world-renowned Volvo brand, fleet financing, working capital, delivery vehicle financing and leasehold improvement financing. Franchise owners have access to Volvo Rents' proprietary software system, operational support and guidance, comprehensive training in systems, sales, service and management as well as facility design and regional and local marketing. Principal Volvo products for rent include the company's extensive line of compact excavators, wheel loaders, back hoes and skid steer loaders.
Volvo Construction Equipment (Volvo CE) is a major international company developing, manufacturing and marketing equipment for construction and related industries. Its products, leaders in many world markets, include a comprehensive range of wheel loaders, hydraulic excavators, articulated haulers, motor graders and compact equipment. Volvo CE is part of the Volvo Group, the world's largest manufacturer of diesel engines in the 9 to 18 liter category. The Volvo Group is one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. The Group also provides complete solutions for financing and related services. Volvo Group is a publicly held company headquartered in Gothenburg, Sweden. With 2006 sales of approximately $34 billion, Volvo's business areas include heavy trucks, buses, construction equipment, marine and industrial drive systems, aerospace and financial services. In the United States, Volvo shares are listed on NASDAQ and are traded as ADRs (NASDAQ:VOLV).
Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Nick Mavrick http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=68159 DATASOURCE: Volvo Rents CONTACT: LeeAnn Donnelly, +1-828-450-2387, , for Volvo Rents Web site: http://www.volvorents.com/
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