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Dedicated Manitou finance service available
00:00 14 Jul 1999
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Exclusive by Ian Brown
Manitou Site Lift, has formed its own finance company in partnership with UFB Humberclyde the well-known fund provider. It will provide a dedicated financial service to Manitou customers who until now have used third-party finance houses when setting up a deal.
Manitou BF SA managing director Marcel-Claud Braud said "We have looked over several years to find a partner with which we could form a joint-venture finance operation. But always there was the problem of finding the right fit especially in terms of the people factor. Now with Humberclyde UFB we believe we have found a perfect match."
Unusually for financial ventures of this type the Manitou set-up is a genuine partnership with Manitou having equal participation in the administration of the company - Manitou Finance. Although Manitou Finance is headquartered in Basingstoke the tough decisions will involve members of the Board in Nantes where Manitou BF SA has its main factory.
The new operation has been launched in the UK first and will be rolled out in Europe - notably Germany and France - at a later date. "It's not because we started off the initial idea for this venture," said Site Lift UK MD John Walker. "But because the UK buyer tends to be somewhat more financially sophisticated than his Continental counterpart.
"I think it's now quite rare for a Frenchman to pay for his new Manitou with a gold ingot from 'under the mattress.' But it's not uncommon for purchases to be made from a firm's own funds. There simply isn't the mindset to make full use of financial packages.
"But here in the UK we have seen increasing use of such packages and until now we have not been able to match the financial sophistication of some equipment providers. Now at a stroke all of those obstacles have been removed. I'm extremely pleased and proud of what's been achieved."
Stuart Webster heads up the new company in the UK. He said: "We have a huge reservoir of equipment funding expertise at our disposal and we have already begun to discuss requirements with several household-name plant hirers. I'm convinced this new initiative will bring Manitou right to the forefront in financial packaging as it is in sophisticated machinery."
Call Manitou Finance on 01256-377389.
Manitou Site Lift, has formed its own finance company in partnership with UFB Humberclyde the well-known fund provider. It will provide a dedicated financial service to Manitou customers who until now have used third-party finance houses when setting up a deal.
Manitou BF SA managing director Marcel-Claud Braud said "We have looked over several years to find a partner with which we could form a joint-venture finance operation. But always there was the problem of finding the right fit especially in terms of the people factor. Now with Humberclyde UFB we believe we have found a perfect match."
Unusually for financial ventures of this type the Manitou set-up is a genuine partnership with Manitou having equal participation in the administration of the company - Manitou Finance. Although Manitou Finance is headquartered in Basingstoke the tough decisions will involve members of the Board in Nantes where Manitou BF SA has its main factory.
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The new operation has been launched in the UK first and will be rolled out in Europe - notably Germany and France - at a later date. "It's not because we started off the initial idea for this venture," said Site Lift UK MD John Walker. "But because the UK buyer tends to be somewhat more financially sophisticated than his Continental counterpart.
"I think it's now quite rare for a Frenchman to pay for his new Manitou with a gold ingot from 'under the mattress.' But it's not uncommon for purchases to be made from a firm's own funds. There simply isn't the mindset to make full use of financial packages.
"But here in the UK we have seen increasing use of such packages and until now we have not been able to match the financial sophistication of some equipment providers. Now at a stroke all of those obstacles have been removed. I'm extremely pleased and proud of what's been achieved."
Stuart Webster heads up the new company in the UK. He said: "We have a huge reservoir of equipment funding expertise at our disposal and we have already begun to discuss requirements with several household-name plant hirers. I'm convinced this new initiative will bring Manitou right to the forefront in financial packaging as it is in sophisticated machinery."
Call Manitou Finance on 01256-377389.
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