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Transaction to Support Regional Construction and Manufacturing Needs in High-Growth Area
BALTIMORE - December 3, 2007 - Williams Scotsman, Inc. today announced the acquisition of approximately 225 mobile office and commercial units from Riverton, Utah-based South Valley Leasing, a supplier of trailers, mobile offices and portable, prefabricated and modular buildings in the Salt Lake City area. The transaction, which is structured as an asset purchase, is intended to support Williams Scotsman's business and fleet expansion strategy in the growing Western U.S. market, with a focus on industrials and new commercial construction as well as manufacturing fueled by facility expansions. "The acquisition of this high quality fleet will help us better serve our customers in Utah, which was the sixth fastest growing state in the country in 2006," commented Rick Delvin, regional vice president, Central Northwest Region for Williams Scotsman. "With a strong and growing local economy and vigorous commercial construction trends, this deal will strengthen our ability to meet increasing needs for construction trailers, mobile offices and other efficient space solutions throughout the state and surrounding region." According to Intermountain Contractor, a publication of McGraw Hill Construction, "Life in the design and construction industry remains as busy as ever for architectural and design firms in the Intermountain Region. And the future looks equally as bright, as the overall economy and state of the construction industry in the Beehive and Gem States is expected to remain solid well into 2008." |