All articles by Jason T
Jason T
Specialist proton therapy manufacturer launches leasing solution
Ion Beam Applications (IBA), the specialist Belgian healthcare equipment manufacturer, has launched a new leasing solution for its proton therapy centres. Until now, the complexity of financing a proton therapy centre, and the delay between capital expenditures and revenue generation were major impediments for our customers that wanted to make proton therapy accessible for their patients, said Jean Marc Andral, president of IBAs proton therapy business.
Bulgaria: leasing defaults soaring
Leasing defaults in Bulgaria are expected to soar in the final quarter of this year and the first quarter of 2010, according to the co-chairman of the Bulgarian Association for Leasing (BAL). The executive director of EFG Leasing, Plamen Pavlov, seconded Marinovs predictions, saying he expects defaults will continue to soar, before peaking at the beginning of next year particularly in the construction sector and related industries.
GE Capital provides Jaguar Land Rover with £170m facility
GE Capital has signed an agreement with Jaguar Land Rover to provide a working capital facility of up to £170 million (191 million). This is the first time that we are aware of in Europe, that a facility has been created to leverage this part of the distribution cycle and is demonstrative of how our pan-European asset and structuring expertise can truly benefit our customers, said Rich Laxer, EMEA president and CEO, GE Capital.
LeasePlan appoints BCA as UK remarketing partner
LeasePlan has appointed BCA as managing partner for remarketing all of its vehicles in the UK. The three-year deal will see BCA handle over 30,000 units per year for the UKs second biggest leasing company. We have entered into this partnership with BCA with a clear sight of the targets we want to achieve and the benefits we expect to accrue, said Graham Rixon, LeasePlans operations director.
Syscap secures extra £75 million
Syscap has secured an additional £75 million (83.1 million) in finance with a UK bank which, the IT financier said, will be used to help its customers to fund IT investment delayed by the onset of the downturn. We are delighted to have been able to secure this additional new funding line to support a recovery in demand, said Philip White, chief executive of Syscap. This considerable new funding facility for IT investment will bring some reprieve for vendors whose ability to make sales has been seriously hampered by the drying up of funding over the past two years, he added.
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ING Lease sees profit fall in Q3, hit by higher losses in UK and Germany
INGs leasing and factoring division saw pre-tax profit fall to 12 million in the third quarter, a 61 percent decrease compared with the 31 million reported for the same period last year.
Ex-State Securities’ Andrew Bullard joins Cashflow UK
Andrew Bullard has been appointed as head of business at invoice finance broker Cashflow UK Bullard, who previously spent 12 years as sales director at State Securities, assumed his role in October and will be based in Cashflow UKs head office in Eastbourne. My key aim for Cashflow UK is to make it the biggest introducer of factoring and invoice discounting facilities in the UK
Norwegian Postal Service to lease 907 new trailers from Kögel
The Norwegian Postal Service has signed a full-service leasing contract for 907 new semi-trailers, bodies and trailers from Kgel, the German trailer manufacturer. The three year contract was signed for an undisclosed sum with Ekeri Kgels Nordic importer and service partner despite Kgels recent financial problems, which had led to it to recently initiate insolvency proceedings.
ABN AMRO’s Venture Finance provides £150k facility for manufacturer
Asset based lender Venture Finance has provided a £150,000 (167,000) factoring facility to Progressive Die Components (PDC) to help develop the manufacturers press tooling business.
GE Capital to finance ?50 million in German motor home industry
GE Capital has announced it will provide 50 million of funding to the German motor home and caravan industry before the end of 2009. The lessor has recently won a series of distribution finance partnerships with motor home and caravan manufacturers in Germany, the company said