Multi Ways Holdings Announces Fleet Expansion and Renewal Strategy Amid Positive Market Outlook
20 Febbraio 2024 - 2:00PM
Multi Ways Holdings Limited (“Multi Ways” or the “Company”) (NYSE
American: MWG), a leading supplier of a wide range of heavy
construction equipment for sales and rental in Singapore and the
surrounding region, today announced its strategic plans for the
procurement and renewal of its fleet. This announcement follows the
Company's successful acquisition of new equipment in January 2024
and aims to strengthen its market position through an enhanced
range of services.
As part of its commitment to excellence and
customer satisfaction, Multi Ways Holdings Limited has entered into
a significant purchase agreement with SANY International
Development Limited, a renowned global manufacturer of top-tier
construction equipment. The newly acquired equipment includes:
- SANY Crawler Crane, Model
SCS1500A
- SANY Crawler Crane, Model
SCC1000A-5
- SANY Crawler Crane, Model
SCC850A-5
- SANY Telescopic Crawler Crane,
Model SCC800TB-5
This procurement initiative is a cornerstone of
the Company's broader strategy to expand and renew its fleet. By
integrating new and used heavy construction equipment, Multi Ways
aims to cater to a wider customer base, enhance its service
reliability, and solidify its position in the market. The renewal
strategy focuses on the fleet's regular upgrades and expansions,
driven by customers' feedback across various industries and
geographical locations. This approach ensures the company's
offerings remain highly relevant and sought after.
Before any acquisition, Multi Ways conducts a
thorough market analysis to evaluate the potential value and
earnings of the equipment, ensuring investments are strategically
sound and aligned with long-term financial goals. Regular reviews
of the fleet composition allow the company to adapt to changing
customer needs while focusing on reducing operational costs through
minimizing repair and maintenance expenses. Older equipment may be
sold off to make way for newer models, enhancing the fleet's
overall reliability and safety.
Mr. James Lim, Chairman and CEO of Multi Ways,
emphasized the strategic importance of these initiatives. “With the
construction sector showing robust growth and the initiation of
major infrastructure projects across Singapore, expanding and
renewing our fleet is critical. This enhances our operational
capabilities and positions us advantageously to capitalize on the
increasing trend of equipment rentals. The construction demand
forecast for 2024, estimated to be between S$32 billion (US$24
billion) and S$38 billion (US$28 billion), with a significant
portion coming from the public sector, underscores the timely
nature of our investments.”
“This strategic expansion and renewal endeavor
position Multi Ways as a forward-thinking leader in the heavy
construction equipment sector, ready to meet the challenges and
opportunities of a dynamic market landscape. Our fleet renewal
strategy centers on providing reliable and efficient service to our
customers. By maintaining a modern and versatile fleet, we can
better meet the evolving demands of our projects and continue to
deliver exceptional value to our stakeholders,” concluded Mr.
Lim.
About Multi Ways Holdings Limited
Multi Ways Holdings supplies a wide range of
heavy construction equipment for sales and rental in Singapore and
the surrounding region. With more than two decades of experience in
the sales and rental of heavy construction equipment business, the
Company is widely established as a reliable supplier of new and
used heavy construction equipment to customers from Singapore,
Australia, UAE, Maldives, Indonesia, and the Philippines. With our
wide variety of heavy construction equipment in our inventory and
complementary equipment refurbishment and cleaning services, Multi
Ways is well-positioned to serve customers as a one-stop shop. For
more information, visit www.multiwaysholdings.com.
Safe Harbor StatementThis press
release contains forward-looking statements. In addition, from time
to time, we or our representatives may make forward-looking
statements orally or in writing. We base these forward-looking
statements on our expectations and projections about future events,
which we derive from the information currently available to us.
Such forward-looking statements relate to future events or our
future performance, including: our financial performance and
projections; our growth in revenue and earnings; and our business
prospects and opportunities. You can identify forward-looking
statements by those that are not historical in nature, particularly
those that use terminology such as “may,” “should,” “expects,”
“anticipates,” “contemplates,” “estimates,” “believes,” “plans,”
“projected,” “predicts,” “potential,” or “hopes” or the negative of
these or similar terms. In evaluating these forward-looking
statements, you should consider various factors, including: our
ability to change the direction of the Company; our ability to keep
pace with new technology and changing market needs; and the
competitive environment of our business. These and other factors
may cause our actual results to differ materially from any
forward-looking statement. Forward-looking statements are only
predictions. The forward-looking events discussed in this press
release and other statements made from time to time by us or our
representatives, may not occur, and actual events and results may
differ materially and are subject to risks, uncertainties, and
assumptions about us. We are not obligated to publicly update or
revise any forward-looking statement, whether as a result of
uncertainties and assumptions, the forward-looking events discussed
in this press release and other statements made from time to time
by us or our representatives might not occur.
Investor Relations
Contact: Matthew
Abenante,
IRCPresident Strategic
Investor Relations, LLC
Tel:
347-947-2093Email: matthew@strategic-ir.com
Commemorating the agreement is a representative
from SANY International Development Limited and Mr. James Lim,
Chairman and CEO of Multi Ways (January 2024)
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4ff38582-03a4-4157-b973-4027a392f4d7
Grafico Azioni Multi Ways (AMEX:MWG)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Multi Ways (AMEX:MWG)
Storico
Da Dic 2023 a Dic 2024