ST. PAUL, Minn.--(BUSINESS WIRE)--June 21, 2006--GE Consumer Finance's Retail Sales Finance unit today announced a new multi-year agreement with Owens Corning (OTCBB:OWENQ) to provide roofing contractors with comprehensive and flexible financing programs for their homeowner customers as part of the Owens Corning Preferred Contractor Program.
The new offering is part of GE's revolving ProjectLine consumer credit product, which gives Owens Corning Preferred Contractors the ability to extend financing and provide immediate funding for homeowners who select Owens Corning roofing products.
Bruce Christensen, vice president of GE Consumer Finance's Home Improvement division, said GE's ProjectLine streamlines the financing process in several ways.
"Our system minimizes paperwork for fast credit decisions," Christensen said. "Applications can be submitted seven days a week with most approvals given within minutes. This streamlined approach enables Owens Corning Preferred Contractors to concentrate on the sale, exceeding the customer's expectations and ensuring they have a great experience."
The Owens Corning program includes a revolving line-of-credit and installment loan options, fast funding, no down payments and no closing fees, all of which make the homeowner's choice to pursue home improvement projects much easier. Second-tier financing is also available.
"GE is one of the most trusted names in consumer financing for the home improvement market, and our partnership makes our industry-leading contractor program even stronger," said Bo Jackson, contractor marketing manager for Owens Corning. "Knowing that credit and support from GE Consumer Finance is a phone call away instills confidence in the contractor and helps the homeowner feel more comfortable in considering premium roofing products for their project."
During the past 15 years, GE Consumer Finance's Home Improvement division has provided more than $4 billion in home improvement financing to nearly half a million homeowners nationwide.
About Owens Corning
Members of Owens Corning's Preferred Contractor Program earn valuable incentives exclusively through Owens Corning, including discounts on goods and services used every day on the job, access to online sales tools and marketing materials, and promotional allowances that can be used for an expanded range of business development activities. For more information on the Preferred Contractor Program or to request a membership application, please visit www.owenscorning.com, or call 1-800-GETPINK.
Owens Corning is a world leader in building materials systems and composite solutions. A Fortune 500 company for more than 50 years, Owens Corning people redefine what is possible each day to deliver high-quality products and services ranging from insulation, roofing, siding and manufactured stone veneer, to glass composite materials used in transportation, electronic, telecommunications and other high-performance applications. Since the company's founding in 1938, Owens Corning has become a market-leading innovator of glass fiber technology with sales of $6.3 billion in 2005 and 20,000 employees in 25 countries. Additional information is available at www.owenscorning.com.
About Retail Sales Finance and GE Consumer Finance
Retail Sales Finance, based in Kettering, Ohio, is part of GE Consumer Finance and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers in key industries: home improvement, powersports, outdoor power equipment, automotive/recreational vehicles, marine consumer electronics and appliances, furniture, floor covering, jewelry, music and health care. With $163 billion in assets, GE Consumer Finance, 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 Consumer Finance, based in Stamford, Connecticut, 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.geconsumerfinance.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.
(C)2006 General Electric Company, All rights reserved.
Contacts GE Consumer Finance, Retail Sales Finance, St. Paul
Cristy Williams, 678-518-2596
[email protected]
or
Owens Corning
Kerry Desberg, 419-248-5939
[email protected]
or
HMH for Owens Corning
Paul Vanderwal, 503-295-1922 Ext. 229
[email protected]
Cristy Williams
[email protected]
678.518.2596