Paris La Défense, 28th February 2013. With the annual SIMA-SIMAGENA 2013 world trade fair underway, GE Capital EMEA has announced that it financed more than $100,000,000 worth of agricultural machinery in 2012.
GE Capital EMEA's Commercial Distribution Finance (CDF) offering supports agricultural manufacturers and dealers by reducing the financial risks involved in holding product in inventory whilst also helping to improve cash flow and increase sales volumes. This is particularly helpful in the agricultural machinery sector due to the seasonality of customer purchases around cultivation periods. CDF also helps finance the operating fund for inventories of heavy machinery with long production times.
Innovative solutions have been put in place by GE Capital EMEA to enable companies within the agricultural sector to:
- Bolster operating funds with finance secured by stocks of new equipment throughout the distribution lifecycle
- Provide financing options which enable customers to keep an inventory of equipment that meets the needs of the market and guarantees delivery lead times within the year; both during the off-season, when the equipment is stocked and displayed, and in the high season when equipment has to be supplied against strict deadlines
- Support distribution partners in the long-term by offering payment terms
Bruno Braure, Industry Leader for Agriculture and Industrial, GE Capital Commercial Distribution Finance, explains:
"Many dealers and manufacturers in the agricultural sector are looking for new ways of financing their equipment. CDF has become a leading lender to the agricultural sector by providing bespoke finance that comes with the added benefit of industry-specific insights and counsel, to support them in their aspirations for growth."
Berthoud, a French manufacturer of equipment for crop protection and spraying, benefits from financing provided by GE Capital EMEA CDF.
Berthoud has been France's leading manufacturer of agricultural spray equipment for more than 50 years. It aimed to strengthen and grow its business by providing more innovative services to its existing network of local distributors.
In February 2011, GE Capital EMEA Commercial Distribution Finance signed a pan-European finance and service agreement with Berthoud that improves the company's cash flow and stimulates commercial activity across all seasons, making it easier for it to sell to a multi-national customer base of more than 100 distributors.
Patrick Denizet, Commercial Director for France and Export at Berthoud, says:
"This solution allows our network to keep equipment in stock, which means we can respond to increasingly short-notice requests from farmers. Berthoud can take full responsibility for all interest charges until such time as crops are sold, without passing costs on to our distributor network.
GE Capital EMEA's Commercial Distribution Finance (CDF) team is one of the leading providers of financing solutions for distribution networks across Europe. In addition to agriculture, the company supports manufacturers in several other business sectors, including technology, motorcycling, recreational vehicles, marine and construction.
Tom Steiner
GE Capital EMEA
[email protected]
+44-(0)-208-185-2494