Ireland-based farming technology company Richard Keenan & Co. has selected asset finance provider Hitachi Capital Business Finance to provide financial solutions to its customers.

The aim of the finance scheme is to help farmers manage cash flow and "preserve traditional lines of finance for other business areas."

Noel Keenan, director of Keenan UK, said: "Keenan is delighted to partner with Hitachi Capital. It provides the strength and support we need in providing tailored financial solutions and services to our customers throughout the UK."

Based in Borris, County Carlow, Keenan employs 250 people and reports an annual turnover of €45m. The company also estimates that 25% of all British and Irish milk and beef is supplied by its farm customers, and also operates in France, Denmark, Sweden, South Africa, New Zealand and Australia.

Mark Richards, head of vendor sales at Hitachi Capital Business Finance, said: "We appreciate the financial requirements which the agricultural sector has, and the shortage that we have seen in traditional credit over the past few years has meant that niche financing businesses such as Hitachi Capital are playing an even bigger part in the UK economy and supporting equipment manufacturers going forwards.

"Our strength of funding and long term commitment to the agricultural market compliments the requirements of Keenan customers," he added.

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