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Turners extends Custom Fleet contract

NZN 31/08/2016 Tina Morrison

Financial services firm Turners has extended its contract with Custom Fleet for a further three years to manage the sale of former lease vehicles of New Zealand's largest vehicle and equipment leasing company.

The agreement extends an existing three-year partnership which covers some 4000 vehicles a year, including the sale of all ex-lease vehicles as well as trucks and machinery from the commercial side of the business, Auckland-based Turners said on Thursday.

It didn't provide a value for the deal.

The deal gives Turners access to the ex-lease vehicles of Custom Fleet, which manages some 30,000 vehicles and commercial equipment, while Custom Fleet gains the use of Turners's 14 nationwide centres to store, value, market and sell vehicles and machinery.

Shares in Turners last traded at $3.05, and have advanced 1.7 per cent this year.

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