DLL Signs Program Agreement with TUG Technologies Corporation
De Lage Landen Financial Services, a global provider of high-quality asset-based financing products to manufacturers and distributors of capital goods, announced today that its materials handling and construction global business unit has signed a co-branded program agreement with TUG Technologies Corporation, a Marietta, Georgia-based manufacturer of aviation ground-support equipment used at airports around the world.
“We’re extremely pleased to be working with TUG Technologies,” says Tibor Horvath, vice president, sales, for De Lage Landen’s materials handling and construction global business unit. “We look forward to doing business in this new industry segment and growing the relationship into other geographies.”
“We selected De Lage Landen because of their global reach, their platform for small-ticket leasing, and their people,” says Stefaan Ver Eecke, President and CEO, TUG Technologies. “Despite the current challenges for airlines and airport operators, we believe a confluence of new environmental regulations, an aging fleet, and a need for better fuel economy in ground-support operations will lead to an active market for new leasing,” says Mike Klaes, Senior Vice President and CFO, TUG Technologies.
About TUG Technologies Corporation
TUG Technologies Corporation is a leading manufacturer of aviation ground support equipment. With regional offices along with an extensive distributor network, TUG Technologies provides exceptional after-sale service and support at airports around the world.
From regional aircraft to jumbo aircraft, TUG has a well-established product line, which includes baggage/cargo tractors, aircraft pushback tractors, belt loaders, air start units, ground power units and air conditioners.
About De Lage Landen
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 and agriculture, healthcare, office equipment, technology, financial institutions, transportation and materials handling and construction. 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 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 active in eight European countries and is an international provider of operational car leasing. 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.
