ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business deals

Sumitomo buys out Singapore construction equipment renter

Japan trading house looks to expand Aver Asia's footprint in Thailand and Indonesia

A construction site in Singapore. More construction companies in Southeast Asia are opting to lease equipment instead of making purchases.    © Reuters

TOKYO -- Japanese trading group Sumitomo Corp. has acquired a Singapore-based company that is one of the largest players in Southeast Asia for construction equipment rentals.

Aver Asia rents bucket lifts, compressors, electrical generators and other equipment in seven countries, including Thailand and Indonesia. The company, which owns nearly 10,000 units of construction equipment, also sells and maintains the machinery. Revenue totaled roughly $67 million in 2019.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more