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News Release
April 20, 2009
Manitowoc rolls out new retail financing program at Intermat
Manitowoc Finance has teamed up with BNP Paribas Lease Group, part of the French banking giant BNP Paribas, to relaunch Manitowoc’s customer financing program. The new financing program was launched early this year.
Jean Babkine, director of trade finance and credit management for Manitowoc in EMEA, said that BNP Paribas Lease Group’s financing experience, combined with Manitowoc's industry knowledge, were a perfect mix.
“BNP Paribas Lease Group is one of the world’s leading leasing companies with international coverage and a strong reputation in vendor financing,” he said. “By teaming up with them, we are able to offer our customers a secure framework for business development combined with sound industry knowledge.”
In its first year, the new retail financing program will cover Belgium, France, Germany, Italy, The Netherlands, Portugal, Spain and the U.K. It will be extended geographically in the near future.
Babkine said that despite global economic uncertainties there is still financing available for cranes. “Manitowoc Finance is not restricted in its ability to offer financing to customers with a sound and profitable business,” he said. “We can offer all kinds of finance tools including loans, finance leases and operating leases. For the right businesses there are some good buying opportunities to be had.”
Jean-Michel Boyer, commercial development manager of BNP Paribas Lease Group, said his company had strong experience in the construction industry and can help crane customers.
“Our company has been committed to the construction equipment market for over 50 years, and we are delighted with this opportunity to develop our business further with cranes,” he said. “Manitowoc is the market leader, and we strongly believe we will establish a successful partnership with Manitowoc Finance.”
BNP Paribas Lease GroupBNP Paribas Lease Group, BNP Paribas fully owned subsidiary, is the French and European market leader in equipment leasing and rental solutions either directly or through vendor programmes. . It offers manufacturers, importers and distributors, a comprehensive array of services, and develops with them local, national or international partnerships, which range from advisory agreements to joint financing companies. BNP Paribas Lease Group operates in 20 countries: directly in Austria, Belgium, France, Germany, Greece, Hungary, India (joint venture with SREI), Italy, Netherlands, Poland, Portugal, Romania, Spain and the UK, Ukraine, and through BNP Paribas Group entities in Algeria (El Djazaïr), Morocco (BMCI Leasing), Tunisia (UBCI Leasing), Turkey (TEB Leasing), and USA (Trinity Vendor Finance). For more information on the BNP Paribas Lease Group, contact Claude Martin Franz, +33 1 41 97 20 02, or e-mail claude.martinfranz@bnpparibas.com, or visitwww.bnpparibasleasegroup.com
About The Manitowoc Company
The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with over 100 manufacturing and service facilities in 27 countries. It is recognized as one of the world's largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. Manitowoc also is one of the world's leading innovators and manufacturers of commercial foodservice equipment serving the ice, beverage, refrigeration,food prep, and cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications.
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