Komatsu Financial Signs Deal With HSBC to Offer Flexible Financing

Sat December 25, 2004 - National Edition
Construction Equipment Guide

Komatsu, a leading manufacturer and supplier of construction, mining and utility equipment and parts and services in North America, has announced that it will begin a new multi-year relationship with HSBC — North America’s business solutions group — to launch a Komatsu private label finance program. The new program will be available to Komatsu’s entire U.S. dealer network.

The new Komatsu credit card will make it easier for Komatsu customers to purchase equipment, parts and supplies. In addition, customers will benefit from increased purchasing power, revolving credit lines, periodic promotional financing offers, flexible payment options and streamlined expense management. Komatsu distributors will benefit from being able to offer additional purchasing and financing options for their customers.

“We are excited about our new relationship with Komatsu and its distributors,” said Brian Zempel, managing director for HSBC’s business solutions group. “With our commercial experience and our state-of-the-art commercial platform, we will work closely with Komatsu to develop innovative, flexible credit solutions that will help them stand out from the competition and drive incremental sales.”

“This program will give our customers exciting new buying power and flexibility in financing options,” said Walter Savage, director of marketing and administration, Komatsu Financial. “The construction industry changes from day to day. New challenges bring new demands on our customers and their equipment needs. With the Komatsu credit card, we are making it easier for Komatsu and our distributor network to serve those changing needs — making sure that we can get a customer behind the controls as soon as the need arises.”

HSBC Business Solutions focuses specifically on the business-to-business financing needs of North American companies that operate through distributorships, catalogs, Internet and traditional retail stores.

HSBC — North America includes all of HSBC’s U.S. and Canadian businesses, including the former Household businesses, and has assets approaching $300 billion. The company’s businesses serve more than 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets. Financial products and services are offered under the HSBC, HFC and Beneficial brands.

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