All articles by Elza Holmstedt-Pell
There has been mixed messages from Nordic countries in the first half of the year, where, apart from Sweden, new business has increased The Nordic countries have enjoyed strong car leasing sectors, and the move of domestic car manufacturers to Asia has changed the trends in that market
Work-life quiz: John Maycock, GE Capital UK
Jon Maycock, GE Capital UK Current job: Commercial Director, Equipment Finance, GE Capital UK
Econocom’s year-on-year revenue doubles
The companys revenues now amount to 345m, and consolidated revenue stands at 1.1bn compared to 508m for the same period last year, which Econocom explained was a result of the merging and integrating with ECS
CD Auction helps Marshall manage sales online
UK fleet finance and management company Marshall Leasing is to move more of its vehicle remarketing online through online auction specialist CD Auction Group The lessor has been trialling CD Auctions online auction service since the start of the year and Marshalls operations manager Martin Brown explained the cost benefits of managing sales online have been significant
Asset finance deal returns PC production to UK
Lombard, the asset finance arm of RBS, has financed a new production unit to help a manufacturer bring part of its business back from China to the UK The Manchester-based computer systems manufacturer Tranquil PC has invested £30k to bring part of its production back to the UK and secured a finance package covering 90% of the amount from Lombard.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Lease lots down at Euro Auctions’ record sale
According to the specialist auctioneers of plant, commercial, and industrial equipment, a number of lease and finance companies use the Dormagen sales to dispose of equipment at the end of its term although volumes are down from previous years The percentage of ex-lease equipment at the Dormagen sale was probably in the order of 20% of the total sale, according to a Euro Auctions spokesperson.
Grenke sees 25% year-on-year growth
Independent leasing group Grenke Leasing has reported a 25% year-on-year growth in new business volume over the last quarter, and has signalled that it will achieve its 2011 growth target 615m of new business volume was written by the small-ticket specialist in the first nine months of 2011, compared to 492m for the same period last year
Bluestone finances office move and fit-out
UK-based lease broker Bluestone Leasing has arranged finance for a £200,000 office move and fit-out project for IT and engineering recruitment agency Austin Fraser Wakefield-based Bluestone structured a finance solution involving eight different banks to create office space for Austin Fraser, which has expanded from two to 40 employees since its foundation in 2007 Steve Russell, sales director at Bluestone, said: Office moves and fit outs are often expensive and can exert a significant pressure on a companys cash flow and resources especially with heavy deposits and extended project schedules.
Deutsche Leasing completes DAL purchase
Deutsche Leasing has completed its purchase of HSH Nordbank subsidiary Deutsche Anlagen-Leasing (DAL), buying the remaining 40% stake in the company it did not already own The sale is part of the Landesbanken-owned lenders divestment of non-strategic holdings, and will make DAL wholly owned by Deutsche Leasing
Parex Banka sells two Russian leasing arms
Latvian bank Parex Banka has sold its Russian subsidiaries Parex Leasing and Extroleasing to recover a significant share of the funds it owes the Latvian government The bank sold the leasing subsidiaries to a company that belongs to Russian Unicorbank Group, with the aim of recovering $120m (88.9m) through collection of receivables, according to a company statement Until the end of 2013 Parex Banka will continue to receive payments through gradual selling of the leasing companies problematic asset portfolios