Frank Lopez, Former U.S. Hispanic Chamber of Commerce Foundation President & CEO, to Oversee Volvo Rents' Hispanic Outreach
March 19 2008 - 10:09AM
PR Newswire (US)
Volvo Rents' optimism about equipment rental industry future drives
Hispanic focus ASHEVILLE, N.C., March 19 /PRNewswire/ -- Volvo
Rents, a division of Volvo Construction Equipment, is pleased to
announce that Frank Lopez, former president and CEO of the U.S.
Hispanic Chamber of Commerce Foundation (USHCC), has been retained
by Volvo Rents to oversee the company's Hispanic franchise business
development strategy in the U.S. (Photo:
http://www.newscom.com/cgi-bin/prnh/20080319/CLW044 ) Lopez's
association with Volvo Rents marks the company's first formal
initiative to promote franchise opportunities to Hispanic
entrepreneurs. During his tenure with the USHCC Foundation, Lopez
was instrumental in driving strategic policy development designed
to benefit USHCC's constituents. He pursued an aggressive and
targeted national campaign that ensured the successful advancement
of Latino entrepreneurship, and Latino-focused small business
policy and research. "Frank's passion to advance the cause of
diverse populations -- particularly the Hispanic population --
matches our desire to cultivate diverse entrepreneurs," said Nick
Mavrick, vice president of marketing for Volvo Rents. "We look
forward to having Frank as part of our team." In addition to
attracting Hispanic entrepreneurs to the franchise program, Lopez
will work with Volvo Rents' team to establish relationships with
Hispanic trade and industry associations in the U.S.; achieve
supplier diversity; and attract Hispanic and minority skilled
laborers to franchise positions. "Volvo Rents' commitment to
diversity is honorable, and I hope to increase the company's
presence and credibility within the Hispanic and other minority
business communities," Lopez said. "I think there is a significant
cadre of entrepreneurs who happen to be Hispanic who can take
advantage of the Volvo Rents franchise program." Despite reports of
markets trending downward, subprime loans defaulting and a slowdown
in the construction industry, experts predict the trend will be
short-lived. Tim Walters of InfoTech Marketing, a Colorado-based
firm specializing in the construction industry, recently told
attendees at Volvo Rents' annual franchise convention to remain
positive through 2008, as 2009 looks like a growth year across all
segments of the construction industry. "Housing will be off by 8.3
percent to offset non-housing growth of 3.7 percent in 2008,"
Walters said. But after this year, he said, numbers begin to
reverse for a healthier 2009. "We can expect a 6.6 percent rebound
in 2009 as housing leads a recovery. Housing should grow by 11.9
percent while commercial construction grows by a steady 3.6
percent." All Volvo Rents centers are independently owned and
operated. The Volvo Rents franchise program covers all aspects of
an operating business model. In addition to the use of the
world-renowned Volvo brand, qualified franchisees are eligible for
Volvo's comprehensive financial package that includes fleet
financing, working capital, delivery vehicle financing and
leasehold improvement financing. The amount of financing for
qualified applicants can be significant, and averaging between $4
million and $5 million per store. Applicants generally need a
liquid net worth of at least $750,000 per store to qualify for the
financing. To learn more about Volvo Rents, visit
http://www.volvorents.com/. About Volvo Rents & Volvo CE Based
in Asheville, N.C., Volvo Rents is a division of Volvo Construction
Equipment, the third largest construction equipment manufacturer in
the world. Volvo Rents operates 79 rental stores in North America,
66 rental stores in Europe and one in Mexico. Volvo Construction
Equipment (Volvo CE) is a major international company developing,
manufacturing and marketing equipment for construction and related
industries. Its products, leaders in many world markets, include a
comprehensive range of wheel loaders, hydraulic excavators,
articulated haulers, motor graders and compact equipment. Volvo CE
is part of the Volvo Group, the world's largest manufacturer of
diesel engines in the 9 to 18 liter category. The Volvo Group is
one of the world's leading manufacturers of trucks, buses and
construction equipment, drive systems for marine and industrial
applications, aerospace components and services. The Group also
provides complete solutions for financing and related services.
Volvo Group is a publicly held company headquartered in Gothenburg,
Sweden. With 2006 sales of approximately $34 billion, Volvo's
business areas include heavy trucks, buses, construction equipment,
marine and industrial drive systems, aerospace and financial
services. In the United States, Volvo shares are listed on NASDAQ
and are traded as ADRs (symbol: VOLV).
http://www.newscom.com/cgi-bin/prnh/20080319/CLW044
http://photoarchive.ap.org/ DATASOURCE: Volvo Rents CONTACT: LeeAnn
Donnelly, +1-828-450-2387, , for Volvo Rents Web site:
http://www.volvorents.com/
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