BNP Paribas Lease Group (BPLG) and JCB, the maker of
excavators and tractors have formed a joint venture to offer
retail and wholesale financing solutions in Europe.
The JV, to be 50.1 per cent held by BPLG and 49.9 per cent by
JCB, will initially offer retail financing solutions for new and
used JCB machines in Spain, Italy and Germany. BNP said the JV
would extend its services and geographical coverage in due
course.
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This collaboration is not the first for the two companies, which
have had an established working relationship for over 30 years. In
1994, BNP and JCB, which manufactures excavators and other
construction and farming equipment, formed their first JV for
financing JCB’s French sales. The shareholding structure of that
partnership is divided 70:30 in favour of BNP.
A spokesperson for BNP said the French JV, however, will now
come under the new European JV.
The partners also cooperate in the Indian and North American
markets through respective vendor programmes.
In 2007, JCB reported a record turnover of £2.25bn from sales of
more than 72,000 machines. JCB’s share of the world construction
equipment market rose to 12 percent from 10.4 per cent in 2006.
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By GlobalDataThe construction equipment market is dominated by the likes of
Caterpillar Inc, Japan’s Komatsu and CNH Global NV, a Dutch
manufacturer majority held by the Fiat Group.
