NORWALK, Conn.--(BUSINESS WIRE)--April 20, 2005--
GE Commercial Finance, Commercial & Industrial Finance Closes EUR 200 Million Agreement with Mecachrome International Inc.
After relocating its headquarters from Paris to Montreal, Mecachrome International Inc. is making its move into the North American market with the help of GE Commercial Finance, Commercial & Industrial Finance (CIF)(NYSE: GE).
GE Commercial Finance recently closed a EUR 200 million refinancing agreement with Mecachrome International Inc., a designer and manufacturer of automotive, motor sport and aerospace/aircraft components. In addition to the refinancing agreement, Mecachrome also utilized GE's "At the Customer, For the Customer" (ACFC) program, which shares GE's renowned business practices, improvement tools and training programs.
"GE Commercial Finance is a key strategic and financial partner for us," said Guillaume Casella, Co-CEO, Mecachrome International. "We teamed up with GE because they have demonstrated their long-term commitment in helping us attain our growth objectives."
GE Commercial Finance offered their ACFC program to assist Mecachrome in its desire to become a worldwide supplier to the aerospace and automotive industries. By initiating relationships with sister GE businesses, and assisting Mecachrome on Six Sigma projects designed to streamline its business, GE Commercial Finance was able to bring more than financing capabilities to the table.
"Our goal is to provide each customer with a solution that is in-line with their financial and business needs," said Dennis Bickerstaff, Managing Director of Mid-Atlantic and Canadian Sales for GE Commercial Finance. "We looked at everything GE had to offer -- from financing solutions to expert counsel on cost and risk reduction -- to put together a package that will help take Mecachrome to the next level."
About GE Commercial Finance, Commercial & Industrial Finance
GE Commercial & Industrial Finance, a unit of GE Commercial Finance, is a premier global provider of structured financing solutions to the commercial and industrial marketplace. It provides innovative financing solutions for a broad array of customer needs including recapitalization, equipment leasing, and growth capital. With over $10 billion in served assets, Commercial & Industrial Finance has the expertise and funding capability to deliver exceptional financing solutions.
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of more than US$230 billion and is headquartered in Stamford, Conn., USA. General Electric (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better.
About Mecachrome International Inc
Mecachrome International is a privately-owned Canadian corporation founded in France more than 60 years ago. Mecachrome has operations in three major sectors: the aeronautic sector since 1950, the production automobile sector since 1995 and the motor sport sector since 1976.
Contacts
GE Commercial Finance Commercial & Industrial Finance,
Norwalk
Ellen Mann, 203-229-1915
Email: [email protected]
or
Tag Team Global, New York
Rebecca Cisek, 913-963-3344
Email: [email protected]
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340