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New Age Electronics Partners with De Lage Landen Financial Services to Offer Flexible Financing
Financial Services Designed to Provide Customers with More Buying Power
Los Angeles, CA—March 28, 2007—New Age Electronics, Inc. (New Age), a leader in sales, logistics, remanufacturing and supply chain solutions for the consumer technology and document solutions industries, today announced a partnership with De Lage Landen Financial Services, a third-party lender, which will provide financial options and increased buying power to customers.
Termed the “Outbound program”, this plan will provide New Age’s dealer channel with 1/3 30/60/90-day or net 60-day terms to purchase Sharp, Hewlett Packard and Panasonic new and refurbished products, and this plan is designed to give SMB VAR’s a suite of credit and finance options to both increase credit lines and distribute the credit load over greater time.
“One of the most valuable benefits of this new program is that it will allow customers to touch New Age twice,” said John Reed, VP/Manager at De Lage Landen. Adam Carroll, president of New Age Electronics. “First, by financing the inbound Sharp and Panasonic equipment through the already established 4.5M inbound credit facility, and once again by financing the same product through the dealer channel.”
“As New Age strives to remain nimble and quick to respond to the constantly changing dynamics within the industry, we want to afford our partners with the same opportunity,” said Adam Carroll, president of New Age Electronics. “This new, financing program allows us to do just that, by offering extended buying power and more flexible finance options.”
About New Age Electronics, Inc.
New Age Electronics is a solution and logistics innovator that provides technology manufacturers with a broad offering of supply chain and distribution services. New Age distinguishes itself with extremely efficient operations and relentless focus on customer satisfaction. Founded in 1988, New Age is headquartered in Carson, Calif. For more information on New Age, call (310) 549-0000, toll-free (888) 234-0300 or visit the company’s Web site at http://www.newageinc.com.
About De Lage Landen Financial Services
De Lage Landen is a Netherlands based international provider of high-quality asset finance and vendor finance programmes. The global offering also includes an array of commercial finance solutions. De Lage Landen aims at being a financing partner — interested in increasing our partners’ market share and margins, and enhancing their profitability — all long-term viable advantages.
With a presence in more than 25 countries throughout Europe, the Americas and Asia Pacific, the company focuses on the following industries: Food & Agriculture, Healthcare, Office Equipment, Telecommunications, Technology Finance, Materials Handling & Construction Equipment, Trucks and Trailers and Financial Institutions. In its domestic market the company offers Equipment Leasing, Car & Commercial Vehicle Leasing, ICT Leasing, Consumer Finance and Trade Finance through local Rabobanks but also direct to market.
De Lage Landen is a wholly owned subsidiary of the Dutch Rabobank Group that is AAA-rated by Moody’s and Standard & Poors. In 2005 De Lage Landen grew its net profit to €178 million ($222 million) and its lease portfolio to €15.8 billion ($18 billion).