JCB and BNP Paribas in JV

David Miller, managing director in charge of financial solutions at JCB, said: “JCB has grown rapidly in recent years to become the world’s third largest manufacturer of construction equipment. In seeking to continue this impressive growth we want to enhance the support available to customers for JCB machines by providing more innovative and comprehensive financing solutions. We also want to improve the financing support available to JCB dealers. The creation of our new JCB Finance joint venture in Europe is an important milestone, enabling us to meet these aims in a number of key markets for JCB products.” This new joint venture will offer a full range of leasing and other retail finance programmes to create new sales opportunities for JCB machines in Europe, as well as providing flexible facilities to support dealer inventory and demonstration equipment requirements. The joint venture, 50.1% of which is held by BNP Paribas 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. BNP Paribas Lease Group’s Bertrand Gousset said the new JV reaffirmed the long-standing relationship between the two companies. “Accompanying JCB in its development initiatives is a challenge we are happy to take up. Together, we will build new financing solutions that will allow us to create and shape the future of this high-growth sector," he said.