GE Capital's Germany Equipment Financing division, DISKO, provides capital for logistics specialists.
London, 18th April 2011: GE Capital has signed equipment leasing contracts worth a combined €7.8m with Pfenning Logistics, one of Germany's leading providers of logistic services. The contracts include, among other things, 95 new semi-tractors, trailers and refrigeration units.
The agreement was signed with GE Capital Germany subsidiary DISKO Equipment Financing and will support the on-going growth of Pfenning, including the additional purchase of 70 new refrigeration units, which will be installed onto existing vehicles.
"This is a time in which having a competent partner, who understands our business, is essential," said Karl-Martin, Managing Director of Pfenning Logistics. "DISKO continues to provide us with reliable and insightful advice, allowing us to maximise sales and continue to grow."
Established in 1975, Pfenning Logistics operates across Europe and has more than 40 sites, representing 200,000 square metres of storage space. The company supports 1,850 jobs and owns a fleet of approximately 1,000 trucks.
"Equipment leasing is a form of finance that is of particular benefit to the Mittelstand, Germany's SME powerhouse. Their main concern is being able to make an investment to grow, while maintaining existing lines of credit and liquidity," said Jürgen Janz, CEO of GE Capital's DISKO Equipment Financing subsidiary.
"We can ensure that MIttelstand companies do not lag behind or become disconnected from the opportunities to grow. Our relationship with Pfenning, which stretches back 35 years, is testament to this fact," added Janz.
GE Capital's DISKO Equipment Financing is one of Europe's leading providers of financing on mobile assets.
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Michael Goodbody
GE Capital EMEA
[email protected]
+44-207-302-6269
+44-7899-808-239