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Manitowoc Finance is partnering with De Lage Landen Financial Services to help strengthen credit offering in the EMEA region. The new partnership will be formally announced to customers and the crane industry at bauma 2010.
DLL, part of RaboBank, will be active in existing EMEA Manitowoc Finance markets and will provide funding for Grove all-terrain cranes, rough-terrain cranes, truck cranes and industrial cranes, as well as Manitowoc crawler cranes.
Last year Manitowoc Finance relaunched in EMEA and teamed up with another financial giant, BNP Paribas Lease Group, part of BNP Paribas. In its first year, the retail financing program, which offered loans, finance leases and operating leases, was rolled out in Belgium, France, Italy, the Netherlands, Portugal, Germany and the U.K.
In a new arrangement announced at bauma 2010, BPLG will now concentrate on finance for only Potain cranes. This will cover all active Manitowoc Finance markets in EMEA, with the exception of France and Portugal where BPLG will continue to provide finance for the full product line from Manitowoc Cranes.
DLL currently works with Manitowoc through its Manitowoc Finance initiative in North and South America, plus the Asia-Pacific region.
Jean Babkine, director of trade finance and credit management for Manitowoc in EMEA, said combining finance offerings from DLL and BPLG made for a stronger organization.
“We are delighted to now be working with De Lage Landen in EMEA,” he said. “The addition of DLL in EMEA will give customers more resources and product-specific financial solutions to purchase Manitowoc products. Combined with the arrangement we have with BPLG, we believe Manitowoc Finance is able to offer some of the most attractive finance options in the business.”
Manitowoc Finance brand has excellent availability of funds for most companies. While a lack of traditional funding adversely impacted the construction industry during 2009, Manitowoc Finance successfully funded more purchases worldwide in 2009 than in 2008.
Since the inception of Manitowoc Finance in 2002, it has funded over $1.5 billion in purchases and offers its services in 16 counties. It is currently the premier crane lender globally.
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