Hirequip Appoints Ray Polson to its Board

13 February 2006

Hirequip Appoints Ray Polson to its Board

Listed equipment hire company Hirequip New Zealand Limited has appointed Christchurch chartered accountant and company director Ray Polson to its Board. This appointment follows the resignation of Murray Doyle in November last year. Mr Polson joins the Board as an independent and non-executive director.

Hirequip Chairman Graeme Wong said, "Ray has considerable commercial experience, both as a company director and business advisor. We welcome this expertise and the contribution he will make as a director of Hirequip."

Mr Polson is the chairman of Polson Higgs, a leading South Island chartered accountant and business advisory practice with offices in Christchurch and Dunedin. He has significant experience in farming, fishing, construction, local government and the energy sector.

He is the chairman of Aurora Energy, formerly Dunedin Electricity, Delta Utility Services, and Wensley Developments and its subsidiary companies, a former Dunedin City Councillor, and former chairman of Port Gisborne Ltd.

Mr Polson is married to Sue, enjoys visiting his grandchildren in Melbourne, and his interests include rugby, golf and travel.

As required by Hirequip's Constitution, he will retire from office at the annual meeting of shareholders, but will be eligible for re-election at that meeting.

"The appointment of an independent director of Ray's calibre brings a wealth of experience and expertise to the board. We are delighted to have secured his services as a director," said Mr Wong.

Hirequip was founded in Dunedin in 1954 and is New Zealand's largest general hire company. Operating from 52 branches nationwide Hirequip employs over 500 staff and has the largest inventory of general hire equipment available in New Zealand. In addition to machinery hire, Hirequip operates a substantial Party and Events division in the South Island and is the owner specialist generator supplier Power Hire.

ENDS

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