Cargobull Finance launched in Russia

Eindhoven, The Netherlands, 27th March 2008 — Today Schmitz Cargobull (SCB) and De Lage Landen (DLL) jointly announce the expansion of the joint venture program Cargobull Finance into Russia.

Schmitz Cargobull first entered the Russian market in 1999. Along with the other Eastern European countries, SCB’s growing presence in Russia has led to the request of support from Cargobull Finance (CBF), a successful joint venture between SCB and DLL offering financial solutions to end users.

“This is a natural progression for Cargobull Finance to expand to Russia,” comments Rene Roelfsema, Managing Director CBF. “with the growing market of SCB, putting one more ‘blue elephant’ on the European map.”

De Lage Landen (DLL) Russia was established in September 2006, and has since developed strong infrastructure and capabilities in providing vendor finance services to global vendor partners in Russia.

For more information please contact:

De Lage Landen:
Ms Lineke Schouwstra, Vice President Corporate Communications
Tel: +31 40 2339084

Schmitz Cargobull
Mr Gerd Rohrsen
Tel: +49 25 58811323