SAN DIEGO--(BUSINESS WIRE)--March 14, 2005--GE Commercial Finance, Global Electronics Solutions (GES) has expanded its global infrastructure and asset management services, spurring more than a 50 percent volume increase in the second half of 2004. The addition of three Fortune 500 integrated device manufacturers to its customer portfolio has also brought on additional sales growth.
"The momentum we realized late last year is a direct result of our ongoing customer-focused approach to doing business," said Roger Innes, President and Chief Executive Officer of GES. "Our customers told us additional asset management services were essential to growing their business, so that is where we focused our resources and attention."
GES's new services allow electronics manufacturers to manage equipment from acquisition to peak utilization to remarketing. The services include:
-- Country-specific financing solutions -- To address new local laws and government regulations, global customers now have the ability to develop financial structures on transactions of all sizes.
-- Trade term financing -- Customers can delay payments up to 90 days to bring equipment on line and into production.
-- Technology real estate services -- Through an alliance with Colliers International Advanced Technology Real Estate Group (ATREG), GES is the first company to offer customers one-stop-shopping for buying and selling equipment, manufacturing facilities and technology real estate.
-- Auction services -- New live on-site and online auctions give customers the ability to buy and sell manufacturing assets quickly and efficiently on a global scale.
"Asset management companies like GES are becoming an integral part of the semiconductor supply chain," said Dan Hutcheson, Chief Executive Officer of VLSI Research, a research and analysis firm for the high technology chip-making industry. "Companies of this type are well positioned to offer value-added services to help manufacturing companies overcome rising capital equipment costs."
GES also significantly enhanced its global sales infrastructure by more than doubling its management and asset management sales expertise to support customers across North America, Asia, Japan and Europe. The expanded team provides regional financial, tax, import and export expertise, as well as expanded global logistics support.
About GE Commercial Finance, Global Electronic Solutions
GE Commercial Finance, Global Electronics Solutions (GES) is a leading global expert in delivering customized asset management services to electronics manufacturers. Through its worldwide network, GES provides a host of flexible financing solutions, product insights and market intelligence, as well as efficient remarketing services. GES helps customers develop a customized asset management strategy to meet their needs, enabling them to maximize their flexibility, reduce risk and increase their return on investment.
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over 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.
Contacts
GE Commercial Finance, Global Electronics Solutions
Bharat Kulkarni, 858-320-7369
[email protected]
or
Tag Team Global
Rebecca Cisek, 913-963-3344
[email protected]
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340