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KomRent

Michael Bolland, CFO Komatsu South Africa with Trevor Cronje, CEO RentWorks and Deon van Wyk, General Manager Sales WesBank

Komatsu and RentWorks, a FirstRand Group company, launch KomRent for smart, cost-effective financing solutions

 

Komatsu South Africa and leading asset rental specialist RentWorks have forged a strategic alliance set to significantly benefit customers in the local capital equipment market.

 

Known as KomRent, the newly formed division provides a suite of dynamic funding solutions that give customers access to state-of-the art Komatsu equipment without adversely affecting their cash reserves.

 

“KomRent represents our response to tough market conditions and a shift in the purchasing strategies of customers in the mining and construction industries. Today’s customers need more flexible funding options and we believe that this new partnership offers them the intelligent and cost-effective solutions they need,” says Komatsu General Manager, Sales and Marketing, Mike Helm. 

 

RentWorks, a FirstRand Group Company, finances more than R3 billion in assets for more than 400 organisations, across a range of industries and asset types.

 

KomRent is a residual-based rental provider that enables businesses to acquire equipment for an optimum period at the most cost-effective rate. Komatsu buyers will now be able to procure their Komatsu equipment without having to outlay huge amounts of cash up front. The KomRent solution affords client’s the ability to spread payments over the useful life of the asset. This enhances cash flow; and the client still maintains control with flexible end of term options.  

 
“We are delighted to enter into this alliance and believe that with our unique financial expertise and Komatsu’s experience in delivering high quality capital equipment, we are set for a formidable partnership that will yield substantial benefits for clients  across the mining and construction industries,” says RentWorks Group Sales Director Kuben Rayan. 
 

Why KomRent?

  • Fund residual positions with flexible structuring options
  • Flexible end-of-term options, for example: purchase, extend rental or return asset
  • Ability to structure an IAS17 compliant solution
  • Project specific solutions
  • Reduced cash flows /rate per hour/per ton
  • Increased after sales market
  • Not having to utilise cash for the acquisition of depreciating assets
  • Increased purchasing power
  • Lower cost of funds
  • Stay abreast of asset innovation trends
  • Avoid the cost and obligation of disposal
For further information on how to access KomRent’s world-class equipment funding solutions, email komrent@rentworks.co.za or
call 0860 RENTAL or 0860 736825.