GE, NMHG Renew Financing Joint Venture

DANBURY, Conn.—GE Capital Solutions, Vendor Program Finance and NACCO Materials Handling Group (NMHG) are renewing their financing program agreement for another five years.

GE and NMHG have partnered in a financial services joint venture for 19 years. NMHG sells and distributes equipment primarily through its networks of Hyster and Yale dealers.

“In this challenging economy, we’re committed to providing our dealerships, and their customers, with simple, competitive financing options that will make it easier to acquire equipment solutions,” says Colin Wilson, COO and president, Americas of NMHG. “Key to this strategy has been GE. We’ve partnered with GE for its industry expertise, comprehensive suite of leasing solutions and extensive Web-based, customer-service capabilities.”

“Globally, NMHG Financial Services generates $1 billion in wholesale and retail financing annually,” says Gary Kempinski, GE’s general manager, Vendor Program Finance. “The program is one of GE Capital Solutions’ most significant relationships. Thanks to the dedication of both companies, NMHG Financial Services is now set to continue delivering results amidst the difficult market dynamics.”