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Herc Rentals is an equipment rental company, owned by Herc Holdings. It was formerly a subsidiary of The Hertz Corporation before being spun-off as a separate company in 2016. The company provides rentals of heavy equipment , [3] tools, power generators and pumps, [4] as well as sales of used equipment.
Hertz Global Holdings, originally known as Rent-a-Car Inc., was founded by Chicago, Illinois native Walter L. Jacobs in 1918. [9] This small car rental operation began with a dozen Model T Ford cars. [10] [11] Within five years, Jacobs' fleet expanded to 600 vehicles—generating annual revenues of approximately US$1 million. [11]
The LAX Consolidated Rent-A-Car Facility (or ConRAC) is an under-construction consolidated rental car facility for the Los Angeles International Airport (LAX). When it is operational in 2025, it will consolidate rental car operations currently spread across the surrounding area of LAX into one location adjacent to the 405 freeway.
In 2009, Hertz Global Holdings made an initial offer to purchase the Tulsa-based car rental company for $41 per share. By April 2010, negotiations had led Hertz to an offer of US$1.27 billion, which was increased to US$1.5 billion, but was rejected a third time by Dollar Thrifty shareholders.
Rental car giant Hertz Global Holdings announced Monday it would pay $168 million to settle 364 claims that it erroneously filed criminal reports against customers who did not return vehicles on time.
The LAX Consolidated Rent-A-Car Facility is currently under construction at Los Angeles International Airport. When completed in mid-2024, the US$ 1.5 billion building will be the largest CONRAC in the world at 6,300,000 square feet (590,000 m 2) and will host up to 21,000 rental vehicles.
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