Over $11 billion in office imaging equipment financed since 2004
IRVING, TX --- GE Capital announced today a five-year extension of its financing agreement with Ricoh Americas Corporation (RAC) through September 2019 in the U.S. and Canada. RAC is part of Ricoh, a global technology company specializing in office imaging (OI) equipment, production print solutions, document management systems and IT services. GE Capital provides comprehensive leasing for RAC's products and services.
"We are pleased to continue our relationship with GE Capital," said Gary Crowe, senior vice president and chief financial officer of RAC. "GE Capital has been a strong partner with Ricoh as we provide services and solutions that make information work for our customers."
Since 2004, GE Capital has funded more than $11 billion in OI equipment under its financing agreement with Ricoh. Jim Kelly, senior managing director of GE Capital's Vendor Finance business, said the company anticipates funding more than $4 billion in new originations for Ricoh's direct sales force through 2019.
"We have over 200 dedicated team members focused on helping Ricoh succeed in this competitive marketplace," Kelly said. "Our highly integrated approach allows us to stay in sync with Ricoh while providing the end-user with customized solutions."
Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services. Headquartered in Tokyo, Ricoh Group operates in about 200 countries and regions. In the financial year ending March 2013, Ricoh Group had worldwide sales of 1,924 billion yen (approximately $20 billion). For further information, please visit www.ricoh.com/about.
About GE Capital, Equipment Finance
With more than $36 billion in lease and loan transactions since 2007, GE Capital's Equipment Finance business maintains relationships with approximately 200,000 business customers through its network of manufacturers, dealers and distributors across 10+ industries, and evaluates more than 1,000 financing applications daily.
GE Capital's Office Imaging business is a leading provider of innovative financing solutions including leases and loans to manufacturers, dealers and end-user businesses to help drive cost efficiencies and top-line growth. Its customizable financing solutions and full-service support help dealers and customers take advantage of their new business opportunities and think beyond the copier. In 2013, GE Capital won the Business Technology Association's (BTA) 2013 Channel's Choice award in the new Third-Party Leasing category.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
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