600-unit deal… Carillion in electric van hire… ING doubles
Spanish fleet arm… Eurohold merges units… Greek lessor sells to
CA… Detroit giants in talks
TransLinc sweeper contract
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UK local authority fleet management provider TransLinc has
signed a three-year maintenance-inclusive contract with Bolton
Council for the provision of eight new Street Sweepers. The rental
return will be €249,000 per annum. TransLinc specialises in leasing
plant and commercial vehicles of all types to local authorities, in
deals ranging from single cars to diggers, buses and industrial
vehicles. It operates a fleet of 4,000 vehicles, including 150
dustbin trucks worth €175,000 each.
LVM in 600-unit deal
Lombard Vehicle Management has won a contract to provide 600
light-commercial vehicles to building products supplier Jewson and
Saint-Gobain. The leases are being run over three to five years and
include full maintenance. The 600 LCVs will be supplied primarily
to Jewson, but also to other companies of the Saint-Gobain group.
Lombard has had a relationship with Jewson, a subsidiary company of
Saint-Gobain, for more than a decade, supplying it with a
3,000-strong car fleet.
Carillion in electric van hire
Carillion Fleet Management has signed with office supplier
Office2Office for the contract hire of 18 Mercedes Sprinter vans
fitted with ECO-Start emissions-reduction technology, as well as a
single Smith Edison electric van. The ECO-Start option cuts van
ignition while in stationary traffic, saving an estimated 10
percent on fuel bills, while the Smith Edison enjoys an 80-mile
range, operating entirely on battery power.
ING doubles Spanish fleet arm
ING Car Lease last month began the process of buying Universal
Lease Iberia in a move that will double its Spanish fleet to more
than 30,000 vehicles.
The company, a subsidiary of Amsterdam-headquartered ING Lease
Holding, has entered into an agreement with German-based GFKL
Financial Services to acquire its Spanish car leasing arm. This is
part of its plans for a “substantial expansion” of operations
across Europe. The acquisition doubles ING Car Lease’s Spanish
fleet from 15,000 to 31,000 units.
Eurohold merges units
Eurohold Bulgaria has announced it is planning to consolidate
its leasing businesses in Bulgaria, Romania and Macedonia into a
new unit. Eurohold plans to merge the three leasing companies, with
a combined market value estimated at €13.1 million, into a
Dutch-based subsidiary, Eurolease Holding. Last month, €200 million
was made available to the Eurohold’s Bulgarian leasing arm through
securiti-
sation of receivables by Deutsche Bank.
Greek lessor sells to CA
Crédit Agricole Leasing has bought a 20 percent stake in the
leasing subsidiary of Greece’s Emporiki Bank for €11 million.
Emporiki Leasing retains an 80 percent controlling stake in the
business.
Under the terms of agreement, Crédit Agricole has a right either to
buy a further stake of up to 30 percent in Emporiki Leasing or sell
back its current holding in the next two years. Crédit Agricole has
a 72 percent controlling stake in Emporiki Bank.
Detroit giants in talks
Troubled US car manufacturers General Motors and Chrysler are in
talks regarding a possible merger, which would transform the shape
of the US – and global – vehicle-making and financing arena. The
once-unthinkable notion of combining GM and Chrysler operations is
a result of collapsing sales and difficulty in sourcing finance for
customers. Chrysler is owned by Cerberus Capital Management LLC, a
private equity house which also owns 51 percent of GM’s former
captive GMAC.
