CIT Group and computer supplier Lenovo are to
extend their vendor programme to cover Europe.
The Lenovo Financial Services (LFS) programme
was launched earlier this year in North
America to provide leasing and financing options for Lenovo’s
customers.
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The latest agreement will be launched
immediately in the UK, and will be extended to France and Germany
by the end of 2010. A number of other countries across Western
Europe will follow in 2011.
The move comes in the wake of significant new funding wins for CIT, including
a £100m (€122.6m) facility for UK vendor finance.
Lenovo’s president Rory Read said: “The
expansion of the LFS programme in Europe will provide us with a
greater opportunity to offer financial services alternatives to our
customers globally.”
CIT vendor finance president Ron Arrington
added that the deal reinforced CIT’s “commitment” to the European
vendor finance market.
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By GlobalData“It reflects CIT’s ability to provide
commercial financing solutions for customers of the leading
technology companies around the world,” he said.
