GE Capital Solutions and Brunswick expand into Latin America
HOFFMAN ESTATES, Ill. – GE Capital Solutions (NYSE:GE) and Brunswick Corp. (NYSE:BC) will offer an inventory finance program for Latin America, they reported in a recent statement.
Brunswick and GE Capital Solutions, Commercial Distribution Finance (CDF) began working together in 2003 with the goal of providing a stable, long-term source of wholesale floor plan financing for Brunswick boat dealers through a joint venture, Brunswick Acceptance Company (BAC), they explained. The new Latin American program will allow GE Capital Solutions and Brunswick to offer financing to the Brunswick dealer base in this region for the first time.
“For more than a decade, GE Capital Solutions has provided inventory financing solutions in Latin America in industries including electronics, technology and appliances. GE will use its 30-plus years of experience in the marine industry and global process capability to benefit Brunswick’s Latin American dealers,” said Thomas Grathwohl, managing director for CDF Latin America.
“We are committed to providing our dealers with market-leading products,” explained William Metzger, Brunswick vice president and treasurer. “The development of this financing program for Latin America will allow our dealers to optimize their inventory of Brunswick boats, which is essential in this expanding region. We have been very pleased with the results of working with GE over the past years, and we look forward to expanding our relationship with them into Latin America.”
The inventory-financing program was designed to provide financing that more closely matches a dealer’s sales cycle, enabling a dealer to carry the increased levels of inventory required to meet customers’ needs in Latin America, according to the companies.
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