well worth putting on your watch lists,particulary some time...

well worth putting on your watch lists,particulary some time this week(or more to the point Tuesday 27/10/04) as the company removes the trading halt and explains to market reasons for initiating the trading halt

with $23 MILLION cash in the bank my gut feeling is to watch for announcement of either company(s) acquisisition(s) or jv arrangement which might be financed by either cash, or a mixture of cash,scrip and possibly a rights issue
$$$$$$$$

Caterpillar: Truly Australia-Wide

It's official: The Cat Rental Store® network is truly 'Australia wide' after the rebranding of National Hire's NSW branches, now presented as 'National Hire The Cat Rental Store'. This exciting development is the first result of a much-celebrated new alliance between National Hire, WestTrac and Caterpillar.

For National Hire, the addition of Caterpillar's extensive range will provide each branch with an improved product range; for WestTrac, the new relationship gives the established company a presence on the eastern seaboard; and for Caterpillar, this new development will place its famous range of equipment in the stores of NSW/ACT's second largest hire chain: National Hire.

National Hire's Managing Director, Stephen Donnelley, sees this new symbiotic relationship as a 'win win' situation for all three organizations, but remains focused on the immediate advantages for National Hire.

“Our experienced and customer focused staff are operational following a smooth transition and are looking forward to their new challenges." "The alliance with WesTrac and the addition of Cat products to our range is an extremely exciting development for National Hire in New South Wales in boosting our offering to longstanding as well as new rental customers.”

The addition of Caterpillar products to the National Hire range represents a real coup for the world's leading innovator, which continues a strong presence in other states through Cavpower, Hastings Deering, WesTrac (Western Australia) and William Adams’. WesTrac's appointment as the official Caterpillar dealer in NSW/ACT and the company's subsequent involvement in National Hire, creates a strong bond between the three associated businesses, promising further expansion in the region.

National Hire's strong presence in NSW and the ACT contributed to the decision to retain the National Hire name. Managing Director of WesTrac, Ray Romano, commented on the re-branding process, saying it "makes good business sense to retain the National Hire name as part of the Cat Rental Store brand in NSW/ACT”.

After the successful re-branding of 11 branches, National Hire are set to enter the second phase of the company's promising future: the addition of National Hire Cat Rental Stores in several regions, co-located at WesTrac facilities.

“This is a very strong network," said Clarence Lim, Caterpillar’s rental manager for Australia and New Zealand. "Because each Cat Rental Store is tied back into a Caterpillar dealership and this gives the Cat Rental Store a few advantages. The Cat Rental Stores can leverage on the extensive and established sales and operational infrastructure of the dealership to better serve the needs of the customers. By teaming up with the dealership, the Cat Rental Store also strengthen the breadth and depth of professional service offerings in the marketplace. This business model differentiates the Cat Rental Store from some rental companies and positions the business for future growth."

A strong customer-service focus exists within the National Hire, Caterpillar and WesTrac organizations. Lim sees the companies' strong alliance as mandate for continuing to improve the existing strengths of service, reliability and diversity.

“We are absolutely dedicated to the rental business today and in the future. It is and will be a very important part of our and our dealers’ business. It is all about answering customers’ needs. That is what we have been dedicated to since we were founded and it is what we will continue to focus on. We are well positioned to meet customers’ needs for new and used equipment, rental equipment and product support. We are very confident in the future of the rental business and the Cat Rental Store."

With 2003 sales and revenues of US$22.76 billion, the ambitious Caterpillar organisation continues to proactively shape infrastructure on a global scale and the company's new relationship with National Hire will certainly give NSW and ACT industries a technological edge.