GAM says ‘Reviver’ plant will reduce fleet investment

Spanish rental company GAM said its ‘Reviver’ remanufacturing plant will substantially reduce the company’s annual feel capital expenditure by giving a second life to its machines.

The 200,000m2 facility, in a former ceramics factory in Villacé, close to León in North West Spain, will focus on forklift trucks and will have the capacity to rebuild 3,000 units a year. GAM said it will be the largest such facility in Europe.

GAM staff visit the new Reviver remanufacturing facility in North West Spain. (Image: GAM)

The company’s investment in the plant comes at a time of improving financial performance, with annual revenues for 2023 up 26% to €280.9 million, and a 26% increase in EBITDA profits to €73.7 million. Net profit was €9 million.

Short term rentals remains the largest component of GAM’s business, growing by 18% last year to €106.9 million, with long term/outsourcing rentals up 42% to €68.9 million. Its sales and after-sales business – which includes sales of forklift trucks – grew by 37% to €105.1 million.

GAM said its international businesses all reported double-digit growth. It operates in Portugal, Morocco, Saudi Arabia, Colombia, Mexico, Chile, Peru and the Dominican Republic.

GAM’s Reviver plant is in a former ceramics factory in Villacé, León in North West Spain. (Photo: GAM)

The company said it was seeing higher rates of growth and better returns in these countries.