JCB, BNP Paribas in European finance JV

JCB said the new JV would offer a full range of leasing and other retail finance programs to create new sales opportunities for its machines in Europe, as well as providing flexible facilities to support dealer inventory and demonstration equipment requirements.“We want to enhance the support available to customers for JCB machines by providing more innovative and comprehensive financing solutions,” said David Miller, JCB’s managing director in charge of financial solutions. In 1994, after many years of collaboration in France, JCB and BNP Paribas created their first JV dedicated to financing JCB’s French sales. Since then, cooperation between JCB and BNP Paribas has continued to grow in Europe and, more recently, in India and North America.This new JV, 50.1% of which is held by BNP Paribas Lease Group and 49.9% by JCB, will initially offer retail financing solutions for new and used JCB machines in France, Spain, Italy and Germany with extended services and territorial coverage planned in due course.Bertrand Gousset, managing director of the Equipment & Logistics Solutions International Business Line at BNP Paribas, said the signing of the new JV with JCB was a major step forward, reaffirming the longstanding relationship between the two companies.

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