De Lage Landen launches global finance program with Lely Industries NV
Eindhoven, The Netherlands, 30th May 2008 – De Lage Landen and Lely Industries today announce the signing of a global program agreement between the two entities, resulting in the establishment of Lely Finance.
Under this agreement, De Lage Landen (DLL) will act as the exclusive financial provider for the robotic milking equipment sold by the Lely Group in the United States, Canada, Australia, France, Germany, Italy, Netherlands, Poland, Spain, and United Kingdom.
As a world-class manufacturer in the cattle sector, the agreement sees Lely Industries N.V. partnering with DLL to offer high-quality asset finance and vendor finance programs internationally. This agreement comes as an extension of the existing partnership in the Netherlands and the pilot program in Germany in 2007.
"We have observed that dairy farmers are increasingly interested in alternative financing schemes. To cater for that demand, we have selected a partner who is perfectly abreast of local legislation as well as existing financing schemes. Through this partnership, we can provide our customers with various financing options that will enable them to achieve the required size of their dairy farm", says Aart van't Land, VP Dairy Equipment of Lely Industries.
“It is a privilege to work with a vendor partner as innovative and creative as Lely,” comments Phil Green, President Global Business Unit Food & Agriculture, DLL. “In addition to further expansion into new territories, further cooperation projects and options for DLL to provide inventory finance are also being considered.”
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Note for editors (not for publication)
For more information please contact:
De Lage Landen: Lineke Schouwstra; Tel: +31 40 233 9084
E-mail: L.Schouwstra@DeLageLanden.com
Lely Holding S.a r.l: Els Versluis; Tel: +31 10 599 65 00
E-mail: eversluis@lely.com
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De Lage Landen International B.V.
De Lage Landen is a global provider of high-quality asset-based financing products. The company, headquartered in Eindhoven (the Netherlands), is a wholly owned subsidiary of the Dutch Rabobank Group, which is Triple-A rated by the major rating agencies Moody’s and Standard & Poor’s.
With offices and joint ventures in more than 30 countries worldwide, De Lage Landen specializes in asset financing and vendor finance programs on a worldwide scale. The global offering also includes an array of commercial finance solutions. The company focuses on the following industries: Food & Agriculture, Healthcare, Office Equipment, Technology Finance, Financial Institutions, Trucks & Trailers and Materials Handling. De Lage Landen also offers private-label leasing programs for the Banking industry, and delivers a broad range of financial services to leasing organizations and non-banking financial institutions.
In the Netherlands, De Lage Landen offers a broad range of financing products, both through local Rabobanks and directly to the market. These products include Equipment Leasing, Car and Commercial Vehicle Leasing, ICT Leasing, Consumer Finance and Trade Finance.
Athlon Car Lease International became part of De Lage Landen Group in 2006. Athlon Car Lease International is an international provider of operational car leasing, active in six European countries.
In 2007 De Lage Landen grew its net profit to €234 million ($321 million) and its lease portfolio to €20.7 billion ($30.5 billion). By year end 2007, De Lage Landen had 4,735 employees.
For more information, please visit our website: www.delagelanden.com
Lely Group
We at Lely are committed to help cattle farmers ahead of market circumstances and to improve their financial and social wellbeing. For nearly 60 years Lely has been a synonym to providing products, services and solutions that are relevant and meaningful to cattle farmers, simply because they have been specifically designed to meet their needs. As a result, Lely is the uncontested market leader in sales and servicing of automated milking systems and holds a strong position in the grassland machinery business. The company is active in well over 40 countries worldwide and employs over 1150 people. Annual revenue amounts to approx. € 250 million.
For more information, please visit our website: www.lely.com
