onstruction and industrial markets throughout the Kingdom of Saudi Arabia. Customers HERC's customers consist primarily of commercial accounts and represent various industries, such as construction, petrochemical, automobile manufacturing, railroad, power generation, shipbuilding and entertainment and special events. HERC primarily targets customers in medium to large metropolitan markets. HERC acquires its equipment from various manufacturers. Franchisees HERC licenses the Hertz name to equipment rental businesses in seven countries in Europe, one country in the Middle East, two countries in Central Asia, and two countries in Central and South America. ALL OTHER OPERATIONS This segment consists of the company’s Donlen subsidiary, together with other business activities, such as its third party claim management services. Donlen is a provider of fleet leasing and management services for corporate fleets. The company’s wholly-owned subsidiary, Hertz Claim Management Corporation (HCM), provides claim administration services to the company and third parties. These services include investigating, evaluating, negotiating and disposing of various claims, including third-party, first-party, bodily injury, property damage, general liability and product liability, and not the underwriting of risks. HCM conducts business at five regional offices in the United States. Separate subsidiaries of the company conduct similar operations in seven countries in Europe. Donlen provides a range of fleet leasing, financing, telematics, and management services to commercial fleets in the U.S. and Canada. Products offered by Donlen include vehicle financing, acquisition, and remarketing; license, title, and registration; maintenance consultation; fuel management; accident management; telematics-based location, driver performance and scorecard reporting; and equipment financing. Donlen’s primary product for car and light to medium truck fleets is an open-ended terminal rental adjustment clause lease. Donlen offers financing solutions for heavier-duty trucks and equipment. Lease financing is provided through syndication arrangements with lending institutions. Donlen originates the leases, acquires the assets, and services the lease throughout the term. Donlen provides services to leased and non-leased fleets. Services consist of fuel purchasing and management, preventive maintenance, repair consultation, and accident management. For the year ended December 31, 2013, Donlen had an average of approximately 169,600 vehicles under lease and management. Donlen’s leased fleet consists primarily of passenger cars, cargo vans, and light-duty trucks. Competition The company’s major fleet management competitors in the U.S. and Canada include GE Capital; Automotive Resources International; PHH Corporation; Wheels, Inc.; and LeasePlan Corporation N.V. Seasonality Car rental and equipment rental are seasonal businesses, with decreased levels of business in the winter months and heightened activity during spring and summer. To accommodate increased demand, the company increases its available fleet and staff during the second and third quarters of the year (year ending December 2013). Significant Events In June 2014, Hertz announced it has begun servicing two new CARSTAR locations: Stock Auto Body CARSTAR in Illinois and Schlenker Automotive CARSTAR in Florida. In July 2014, the Hertz Corporation continued to add to its neighborhood market network with the opening of another 17 Hertz Local Edition locations in 13 states. History Hertz Global Holdings, Inc. was founded in 1918.
hertz global holdings inc (HTZ:New York)
225 Brae Boulevard
Park Ridge, NJ 07656
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