ST. PAUL, Minn.--(BUSINESS WIRE)--Hard-working tractors like KIOTI need a hard-working financing program. That's why Daedong-USA selected GE Money's Sales Finance unit as its new consumer finance partner.
Under the five-year agreement, GE Money will support the new KIOTI Finance program through more than 300 dealers nationwide. Effective this month, approved customers can finance a new KIOTI tractor using the KIOTI private label credit card or with an installment loan backed by GE Money.
"A flexible financing consumer program is essential in our industry," said Chang Gue Kim, president of Daedong-USA, located in Wendell, N.C. "GE gives our dealers everything they need to be successful, including a fast application response, program-specific marketing materials, special financing promotions and knowledgeable customer service."
KIOTI is one of the fastest growing brands of compact tractors. Daedong Industrial Company of South Korea, which has a line of tractors ranging from 20 to 65 horsepower, began selling tractors in the United States in 1986. Daedong-USA opened in 1993 and has enjoyed steady growth since that time. The company also makes attachments and implements to fit its tractors, including mowers, rakes, tillers and other equipment.
"The KIOTI tractor has established an excellent reputation, and consumers now look for the KIOTI brand," said Gary Slagle, vice president and general manager of the agriculture industry for GE Money -- Sales Finance. "A consumer financing program can help make purchasing KIOTI products easier, and will continue to strengthen the company's brand awareness and growth across the country."
Daedong-USA is the North American subsidiary of Daedong Industrial Company, Ltd., based in Daegu, South Korea. Daedong Industrial Company has been manufacturing tractors and equipment for 50 years.
ABOUT KIOTI
KIOTI specializes in the sales and service of quality compact tractors, attachments and implements. Since the first KIOTI compact tractor was introduced in the U.S. in 1986, the company has achieved rapid and on-going progress, aligning itself among the nation's compact tractor brand leaders. KIOTI makes 15 tractor models, ranging from 20 to 65 horsepower. Parent company, Daedong Industrial Company, has been making tractors for 50 years, and KIOTI Tractors recently celebrated 20 years in the U.S. and Canada. For more information about KIOTI products or to locate a dealer, visit the company's Web site at www.kioti.com.
ABOUT GE MONEY AND SALES FINANCE
Sales Finance, based in Kettering, Ohio, is part of GE Money, formerly GE Consumer Finance. The Sales Finance division provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers, dealers, manufacturers and service providers in more than 20 industries including: agriculture, landscaping, outdoor power equipment, home improvement, furniture, sporting goods, powersports, automotive, recreational vehicles, consumer electronics and appliances, floor covering, marine, music, jewelry, and health care.
With $163 billion in assets, GE Money, a unit of General Electric Company (NYSE: GE), is a leading provider of credit services to consumers, retailers and auto dealers in approximately 50 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at www.gemoney.com.
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
© 2007 General Electric Company, All rights reserved.
Contacts
GE MoneyCristy Williams, 678-518-2596
[email protected]rKIOTIRon
Parrish, 877-465-4684 [email protected]
Cristy Williams
[email protected]
678.518.2596