Leaseurope has appointed Ronald Slaats, CEO of De Lage Landen to replace retiring board member Alain Vervaet, supervisory director at ING Lease Holding. Chairman ofLeaseurope Jukka Salonen said: Slaats is an acknowledged expert within the leasing ndustry and a man of dedication at the helm of a truly pan-European and international institution
A surge in profits in consumer lending and commercial leasing helped GE Capital grow net earnings by 11 per cent for the three months to March 31, 2011. After tax, earnings for the first quarter of the year stood at $1.83bn (1.25bn), compared to $1.64bn in the fourth quarter of 2010. Compared to the first quarter of 2010, earnings made a staggering leap, up from just $152m during the corresponding three months in the prior year, its consolidated results show.
Econocom and its banking partners have finalised an agreement to reorganise the financing scheme put in place for the purpose of acquiring former Socit Gnrale subsidiary ECS Group in October 2010. The agreement speeds up Econocom Groups debt reduction and allows for an early repayment of a 40m bridge loan, thereby cancelling a capital increase plan. The repayment comes after Econocom made an early repayment of 40m on a 132m syndicated loan at the end of March 2011.
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Test equipment lessor Microlease has acquired the entire share capital of Hampshire-based Hamilton Hall Consultants, an asset management software firm. The acquisition aims to improve Microleases asset management revenues, as well as strengthen the software and systems available to the customers of both Microlease and Hamilton Hall. According to Microlease, the acquisition will further expand its reach in the aerospace and defence markets two key areas of interest.
Fleet Logistics has appointed Stuart Donnelly, UK and international business development director, to lead a new management team for its Nordic operations to spearhead expansion in the region. Donnelly, who has been with Fleet Logistics for the past four years, will be responsible for operations and commercial activities in Norway, Sweden, Denmark and Finland; and will be based at the companys regional head office in Malmo, Sweden
Japanese yellow goods producer Sumitomo Heavy Industries is to open a machinery leasing company in China. The new company will be based in Shanghai and will be set up with $20m (13.9m) of capital. The new leasing company will offer financing for construction machinery in order to keep up with growing local demand.