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Partnership enables food suppliers throughout Europe to obtain CFS food processing equipment while conserving cash
BAKEL, The Netherlands and SUPERIOR, Colorado – 8 September 2010 – CFS, a leading manufacturer of equipment for food preparation, processing and packaging today announced that it has named Key Equipment Finance, a global, bank-held equipment finance company and an affiliate of KeyCorp (NYSE: KEY), as European equipment finance partner.
The relationship with Key Equipment Finance will enable CFS to offer flexible financing to food suppliers throughout Europe who are interested in obtaining the company's high performance food processing and packaging equipment. By offering a finance option as part of the sales process, CFS enables customers to benefit from one-stop-shopping for manufacturing equipment and financing, as well as take advantage of potential tax benefits and the ability to add or upgrade equipment quickly and easily to meet future demand.
"CFS has become a leader in the manufacturing industry by thinking ahead and developing innovative solutions that will meet the needs of customers both today and into the future," said Adam D. Warner, president of Key Equipment Finance. "CFS clearly understands the value of offering a complete customer service solution, which includes fast and flexible financing that will enable CFS customers to more easily obtain the latest food processing and packaging equipment."
CFS noted Key Equipment Finance's comprehensive coverage across Europe, as well as the company's client service and marketing support as primary reasons for selecting Key Equipment Finance as its finance partner.
"Our primary goal with this program is to make financing our equipment as easy as possible for our customers, so it was important to find a finance partner that could provide the highest caliber of service to food manufacturers throughout Europe," said Brian McCluskie, CEO at CFS. "We're excited to offer this value-added service to our customers and look forward to working with Key Equipment Finance on this program designed with our customers' budgets in mind."
CFS Lifecycle Performance
CFS specializes in performance-focused solutions for the food industry, from a single machine or packaging material to a complete production line for the preparation, marination, processing, slicing and packaging of primarily meat, poultry, fish, seafood and cheese-based products. CFS 'Lifecycle Performance' supports the performance of food processors throughout the lifecycle of the equipment by helping meet operational challenges such as product variety, process flexibility, reducing the cost per kilogram and per pack, food safety and the environment. CFS product and packaging uses innovation to improve output and reduce operating cost for food processors.
For more information:
CFS B.V., P.O. Box 1, 5760 AA Bakel, The Netherlands
Tel.+31 492 349 349, Fax +31 492 349 416, email info@CFS.com, www.CFS.com
For more press information, please contact Stefan de Roo
Tel. +31 492 349 349, Fax +31 492 349 416, E-mail : stefan.de.roo@cfs.com
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. The company focuses on four distinct markets:
- businesses of all sizes in the U.S. (from small business to large corporate);
- equipment manufacturers, distributors and value-added resellers worldwide;
- federal, provincial, state and local governments as well as other public sector organizations; and
- lease advisory services for larger structured equipment needs including single investor and leveraged leases, securitizations, and structured debt.
Headquartered outside Denver, Colorado, Key Equipment Finance manages nearly $11 billion in assets and originates approximately $3 billion of equipment annually. The company has major management and operations bases in Albany, New York; London, England; Hong Kong, China and Sydney, Australia. The company, which supports clients in over 40 countries, employs approximately 700 people worldwide and has been in the equipment financing business for over 35 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at www.KEFonline.com.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $93.3 billion. BusinessWeek magazine named Key the top bank in its Customer Service Champ 2009 edition, ranking Key 11th out of the top-25 companies that include many known for their customer service acumen. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit www.key.com.
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