All articles by Claire Hack
Claire Hack
UK lessors mould a niche
The plastics industry, like many others in the manufacturing segment, was hard hit during the recession, meaning many businesses have avoided investing in equipment over the course of the last three years, leaving a dearth of funding opportunities. Factors such as a decrease in manufacturing overall across Europe, as well environmental concerns leading to a decrease in the use of plastic packaging and bags, have played a part.
Angel Trains clears debt
UK ROSCO Angel Trains Group (Angel) has completed its long-term debt refinancing programme through its subsidiary The Great Rolling Stock Company. The last part of the groups debt rescheduling concluded with a loan agreement, including a five-year £450m (510m) facility and a £400m seven-year facility. The proceeds from the latest issuance will refinance the senior bank debt and will provide Angel with a stable financial platform.
Zenith Provecta seals fleet deal
Fleet funding and management company Zenith Provecta (Zenith) has a signed a deal with pub retailer and brewer Greene King (GK) for the management of 300 company cars and 100 cash allowance drivers. GKs cash allowance drivers will be managed through Zeniths web-based Cash Allowance Management System, which deals with the financial and health and safety considerations of drivers not using traditional company cars.
No room for complacency at Close
The Close Brothers Group has an ambitious vision for its asset finance business based on a culture of staff involvement and embracing opportunities The Close Brothers Group has a lot to boast about: for the six months ended 31 January 2011 its adjusted operating profit from continuing operations increased 5.5% year-on-year to £65.4m (73.6m)
De Lage Landen embracing change
Innovation and adaptability have enabled DLL to come through the global financial crisis and move forward Carlo van Kemenade, DLLs chief commercial officer for vendor finance, tells Claire Hack how. Netherlands-based leasing and consumer finance provider De Lage Landen (DLL) has experienced considerable change in recent times, especially within the vendor finance team
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Copernicus live with latest Solar3 client
UK-based software provider Copernicus has launched the second live installation of Solar3, its third generation browser-based asset finance software. The launch was the result of a project with a major British high street bank with an international presence, which began in September Copernicus founder and managing director Allen Jones said: This was a hugely complex project, to take over from a 20-year-old legacy system and replace numerous interfaces to other systems
SGEF partners with UK tractor company
SG Equipment Finance (SGEF) is to begin offering financing solutions to customers of UK-based Kubota Tractors. The partnership means SGEF is to provide a range of low interest finance options on Kubotas M Series agricultural tractors and L Series mid-range tractors.
UniCredit Leasing in PV deal
Italian financing giant UniCredit Leasing (UCL) has acted as the sole funder for a major photovoltaic plant, which has now been connected to the grid. UCL provided a 38m financing facility to EST Italia Srl to build a 7.5 MWp solar plant, at Torre Santa Susanna, in the Apulia region of southern Italy. The plant consists of Sanyo panels, mounted on single-axis solar trackers as part of a bid to maximize energy production, expected to be in the region of 13m kWh per year, or enough energy for about 4,000 families.
CAL&F announces new CEO
A new CEO has been appointed at Crdit Agricole Leasing & Factoring (CAL&F) after the departure of Olivier Toussaint in March. Philippe Carayol, currently deputy CEO of Caisse Rgionale de Crdit Agricole Aquitaine, one of the French financing giants regional banking networks, will take up the role on 1 September this year Carayol started his career in 1982 at Caisse Rgionale de Crdit Agricole de Charente, and became director for the corporate market in 1991, then director of the sales network in 1997.
Hitachi hires transportation asset manager
Hitachi Capital Business Finance has appointed Bob Rudge as transportation asset manager as part of a bid to augment its commitment to wheeled asset funding Rudge has more than 40 years experience in the transport industry, including a stint at Dennis Specialist Vehicles and at Glasss Guide