LiuGong North America Announces Dealer Financing Program

As LiuGong continues its expansion into North America, it is introducing a new financing program to enhance its dealers’ competitive stance and success, said company executives. LiuGong Construction Machinery North America has partnered with De Lage Landen Financial Services, a global provider of high-quality, asset-based financing products for manufacturers and distributors of capital goods, to develop the program. De Lage Landen is a fully-owned subsidiary of the global Rabobank Group based in The Netherlands. The exclusive partnership agreement engages De Lage Landen to provide inventory finance options to LiuGong dealers in North America, and retail equipment finance solutions to their end-use customers. Jim Donoghue, Chairman, LiuGong Construction Machinery North America, announced the

Advertisement

program at the 2011 ConExpo in Las Vegas. He said the two-part program is available in North America beginning in March. Discussions are underway to expand the program to Latin America. “We are seeing signs of economic growth in 2011 and we think the opportunity for LiuGong in North America is very good,” said Donoghue. “The financing capabilities provide a complete set of financial services and products to our dealers and customers.” The wholesale financing program for dealers can be used to stock new equipment and finance their rental fleets. The flexible retail financing plan meets the individual needs of customers in addition to offering low-rate financing options for new machines, for example, 0% interest for 36 months. The program offers competitive loans for used equipment and various leasing options, with lots of flexibility at the end of the lease term to extend the lease, purchase or return the equipment, or lease new equipment, Donoghue said. He said the program will make it easier for dealers to sign up with LiuGong, help them stock more

equipment and turn inventory faster by helping customers secure credit for their purchase. This in turn allows customers to see the broadest array of LiuGong equipment lines, Donoghue noted. The program lets dealers and customers hold onto their cash, and it will not impact their existing lines of credit. From flexible payment schedules to helping with add-on equipment means financing can be customized to almost any business situation, Donoghue said. This type of program helps customers remain abreast of technology by upgrading to new and better equipment. The program is another tool helping LiuGong continue expansion of its dealer network in North America to include between 50 and 60 dealers altogether. LiuGong Machinery Corp., headquartered in Liuzhou, China has produced high quality construction equipment for more than 50 years and is growing throughout the world. The company has been named one of the top 100 brands in China, ranking 60th. With US$2.32 billion in sales in 2010, China’s premier heavy equipment manufacturing firm is within the top 15 largest construction machinery companies globally. The firm employs over 13,000 including more than 750 R&D engineers, and produces more than 60,000 machinery units annually. It offers a full line of machines, including wheel loaders, bulldozers, backhoes, skid steers, forklifts, graders, excavators, rollers, truck mounted and crawler cranes, and pavers. LiuGong equipment is easy to own and easy to operate, and the company excels in providing features that customers demand, focusing on using only well-proven technologies that are easy to service. The result is highly durable machines that stand up to the rigors of the tough operating environments customers face.