All articles by Fred Crawley
Fred Crawley
Boom lift maker uses leasing to break into UK rental market
Boom lift manufacturer Aichi is using lease purchase options on new products to entice investment by short term rental firms, in the hope of securing its brand in the UK marketplace. For a limited period, first imports of the new 12m and 14m Global Series boom lifts into the UK will be available on flexible payment terms, including purchase, lease or rental options
GE Capital completes UK restructure
A year after embarking on the project, GE Capitals UK corporate finance business has been restructured as part of a global reorganisation of GE Capital. John Jenkins, the CEO of GE Capital UK since May, said the work has involved breaking down the silo walls between its four business finance areas: fleet contract hire, factoring, equipment finance, and business lending
TransLinc continues to deliver on £1.7m contract
Local authority fleet specialist TransLinc has delivered the latest batch of vehicles in a £1.7 million fleet replacement programme by the Highways Division of the London Borough of Hounslow (LBH). The assets about to be delivered, part of a 38-vehicle tender, include an Iveco Utranazz Mixer, four Iveco Thomson 7.5-tonne Tippers and two 18-tonne Iveco Thomson Tippers.
UniCredit uses EIB money to build Bulgarian wind park
UniCredit Leasing has provided 12 million in funding for a six turbine, 9MW wind power facility in northeastern Bulgaria. The facility is being developed by Leitwind, the wind power subsidiary of Italian technology group Leitner, and will contribute to Bulgarias aim of sourcing 16% of its energy from renewables by 2020. The funding from UniCredit is part of a 80 million credit line extended to the Italian leasing network by the European Investment Bank (EIB) in October 2008
ING Lease named broker funder of the year
The National Association of Commercial Finance Brokers (NACFB) has named ING Lease UK Lessor of the Year at its industry awards event, held at Stamford Bridge football stadium on 12th November.
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Czech leasing down 50%
Czech leasing business in the years first three quarters was down 56 percent year-on-year, the countrys leasing association has announced. According to the CLFA, business written between January and September amounted to 1.2 billion, down from 2.75 billion in 2008.
Microlease to boost turnover 50% with Agilent agreement
Test equipment leasing company Microlease continues to be active following its funding boost earlier this year, signing an agreement with instrumentation manufacturer Agilent to sell its equipment direct to end users. Under the new scheme, Microlease will be Agilents sole Authorised Technology Partner in the UK and Ireland, taking on seven sales staff and one sales manager from Agilent as part of the deal.
PCFG confident of a strong trading result
Private & Commercial Finance Group (PCFG) has announced that its trading results for the six months leading up to September 30 will not fall below expectations. In the year ending at the start of this six month period on April 1, PCFG’s business finance division had written £36.7 million (41 million) of new business, and held a portfolio of £70.6 million via some 7,256 customers. According to the group, provisions for defaults stand at 5.9 percent of total portfolio, but are to be mitigated via the raising of £390,000 through convertible loan notes in August, and a further £1.35 million through a share placing in September.
JCB lauded for vehicle security
Landmark construction plant maker JCB has become the first manufacturer to receive a three star rating under research firm Thatchams Agricultural and Plant security star rating scheme. The system, designed as a tool for insurers to evaluate risk on equipment, rates plant in terms of vehicle identification, key security, immobilisation of machine, peripheral security, and after-theft tracking systems.
Ukraine starts up car rental association
The first meeting of the car rental committee of Ukraines leasing association, UUL, took place this week, as part of a campaign by UUL members to see the rental industry recognized as legally separate from equipment leasing. Participating companies, including Europcar, Hertz, Rent-a-Car, BLS, RES Arocars, Avis and Budget, spent the meeting discussing criteria for other car rental companies membership of the committee