The story of Algeco: how to grow a company in the middle of the crisis?

Romania was fully hit by the global crisis, and construction field was by far one of the most affected areas. However, there is a company that not only survived the crisis but had significant increases in 2009. It’s Algeco.

What was Algeco’s success in Romania? The increase of turnover with 35% in 2009 compared to 2008 and a doubling of operational profit.

We wonder how it was possible, especially in a year that most companies in this area have dropped dramatically?

And here it is the story of Algeco …

Algeco Romania is part of Algeco Scotsman, a leading global provider of services, expert in modular space and storage solutions. In other words, Algeco invests in solutions for space, which provides beneficiaries solving an immediate need at the best quality.

Romania was fully hit by the global crisis, and construction field was by far one of the most affected areas. However, there is a company that not only survived the crisis but had significant increases in 2009. It’s Algeco.

What was Algeco’s success in Romania? The increase of turnover with 35% in 2009 compared to 2008 and a doubling of operational profit.

We wonder how it was possible, especially in a year that most companies in this area have dropped dramatically?

And here it is the story of Algeco …

Algeco Romania is part of Algeco Scotsman, a leading global provider of services, expert in modular space and storage solutions. In other words, Algeco invests in solutions for space, which provides beneficiaries solving an immediate need at the best quality.

Algeco entered the market in Romania in July 2007 by opening two storage outlets in Bucharest and Sibiu. In 2008, the first operational year delivered over 15,000 square and had an operating profit of 237% over budget.

Growth assumptions were therefore created when the crisis started. And the company, rather than declining, continued its growth into a more alert rithm. The year 2009 was characterized by a decline in the construction sector with 15.7% and all this given, Algeco increased its turnover with 35%.

What is the success recipe to become the market leader?

“One of the main advantages of Algeco is that it provides to its customers solution for suitable space, precisely when it is required!” says Florin Ianul, company’s General Manager in Romania. “Moreover, we are an innovative company that brings creative solutions to fill the market gap space, quickly solving and without investment required from our beneficiaries, giving them the opportunity to use capital for other productive purposes.”

What are the other advantages of Algeco?

• All ranges given are very effective both structurally and in terms of operation and maintenance cost
• Management Team of Algeco Romania is a young, dynamic and bold team and has emphasis on high quality services, but also on a very good understanding of the needs of today’s market, offering the best spage solutions for the moment
• The efficiency of Algeco Romania team is supported by its underlying force behind the group: a fleet of more than 345,000 units, over 31,000 customers with operations in 21 countries across Europe and North America, which makes Algeco world leader in the rental space.

And in order to demonstrate that success in 2009 was not randomly, Algeco Romania has greater plans for 2010. We will learn about it soon …