Hire and Rental News - February 2017

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14 HIRE AND RENTAL NEWS • FEBRUARY 2017
INDUSTRY in FOCUS
“Magswitch Technology was fortunate
enough to take out an award within the
‘Corded Power Tools’ category thanks to
our innovative and unique magnetic drill
press: the MagDrill Disruptor 30.
“This drill utilises patented shallow-
field magnetic technology that offers
an incredibly strong grip, even on steel
as thin as 1/8 inch. On top of this, the
patent-pending base automatically pivots
to conform to any pipe 3 inch or larger - a
feature that caught the judges attention
in a big way,” David said.
“Another contributing factor was
Breakthrough technology takes home international award
The 2016 Pro Tool Innovation Awards (PTIA) featured some incredible new industry
equipment, with each category boasting stellar competition, David Morton, CEO of
Australian company Magswitch Technology said.
the engineering behind the MagDrill
Disruptor 30s power distribution, since
no electricity is required for the magnets
to be effective. This means more power
goes to the motor, resulting in increased
efficiency and safety because the
magnetic grip will not be lost if there is a
sudden loss of power to the device.
“We are excited to receive such an
accolade for our flagship drill and thrilled
to announce the MagDrill Disruptor 30
is available in over 800 United Rentals
outlets across the US,” David said.
Visit:
Magswitch Technology won with its magnetic
drill press: the MagDrill Disruptor 30
Everything from telemetry helping
manage the health and ongoing cost
of your asset, safety, improved comfort,
functionality and overall performance
to rival the advances being made in the
automotive industry. All of this combined
with very low finance rates and a steady
market demand suggests investing in
these assets makes good business sense.
Rental rates are never guaranteed though
and there is always someone willing to
rent it out cheaper than ‘average’ rates
within your market. Three tips to assist
when investing in your fleet:
• Shop around. This may seem obvious
but many rental companies are
brand loyal and this can mean they
are paying more than they should,
as well as missing out on key items
such as longer service frequencies,
extended warranties or features such
as telemetry. Take the time to test your
preferred brand against the market.
You may still stay with ‘your’ brand,
however gain some additional benefits,
features or price points.
Has there ever been a better time to invest in
materials handling equipment for your rental fleets?
by Andrew Satterley
On the surface, investing in your equipment may seem like a large capital expenditure –
and it can be. However, the reality is whether it be forklifts, access equipment, cranes or
associated equipment, the cost has never been lower and the technology and features,
never better.
• Ensure you have a good asset
management system. One of the
largest investments for any business
is the operating system, and it is
the strength and capabilities of that
system that will play a significant
role in understanding, managing and
ensuring the return on your assets. You
must be able to manage the financial
aspects of the equipment, utilisation,
selling rates and overall profitability,
while also effectively managing the
running costs to maximise your return.
Finally, your system should bring the
asset management into the rental hub
(rental dockets, transport, mobility, etc)
and seamlessly link all the data. At
a glance, you should be able to view
profitability by individual asset and
your system should be your trusted ally
in determining future purchases.
• Exploring rental mobility functionality
is a must today and this should form an
integral part of your operating system.
• Funding. The time is right to broaden
your funding options beyond the
traditional banks. Interest rates are
at an all-time low, however, this is
not always reflected in the offerings
given to businesses looking to fund
capital expenditure. So test the market,
challenge the rates offered and look
outside the banks. The rates, term
and end financial position are all
key considerations and all can vary
depending on what model you wish
to adopt or what model a particular
institution wants to offer. Being diligent
here can increase your return for the
life of the asset as well as return on
disposal at life end.
In summary, some parts of the economy
have cooled, however, most states are
experiencing consistent investment in
building and construction and with low
interest rates and low cost of equipment
the time is right to invest in your fleet.
The key is to invest smart, challenge
traditional decisions and see what the
market can do for you.
Contact: 1300 837 142 or visit website: