Business Services Industry
El Camino Resources Mexico Moves to Expand Its Market Coverage Through New Acquisition of Leasing Company
Business Wire, May 29, 2007
CHATSWORTH, Calif. -- El Camino Resources Mexico ("ECRM") has announced that it has finalized the acquisition of the Mexican regional leasing company, ABC Leasing of Mexico City. David Lopez, ECRM's managing director, reported, "ABC Leasing brings to El Camino Mexico some very good business elements that will add to our substantial capabilities in Mexico today. They have offices in many local markets of central and northern Mexico with sales staff in Guadalajara, Morelia, Veracruz, Guanajuato and Chihuahua. These offices will add a considerable amount of new clients and allow us to reach out to more locations in Mexico. We felt that it was important for us to reach additional geographical market segments to better serve the end users brought to us by our strategic alliance with BBVA Bancomer, as well better utilize the additional lease funding capability from the bonds we are issuing on the Mexican Bolsa. Additionally, with this acquisition El Camino Mexico has extended its market coverage to much of Mexico and can now provide full-service coverage to our Mexican-originated vendor programs, as well as new programs being generated in the U.S. by our parent company."
ABC Leasing brings to El Camino Mexico its 25 employees and a leasing portfolio of nearly $90 million pesos of well-managed assets with a very low delinquency ratio. The primary focus of ABC has historically been on motor vehicle leasing for small companies, from one unit to a complete fleet, with full service included (i.e. auto maintenance, licensing with the authorities and usage taxes). ABC also has some important vendor programs covering such products as golf carts, energy production equipment, water treatment appliances, and aircrafts (airframes and engines).
ABC ownership in Mexico was a joint venture of a Mexican investment management group, formally associated with the Ventana Fund, a U.S. investment group with headquarters in Irvine, California.
For more information about El Camino Resources' vendor programs in Mexico, please contact:
Mexico Luis Arrieta Vendor Director larrieta@elcamino.com.mx 011- (52) (55) 5980 - 7046 El Camino Resources Mexico Alfonso Napoles Gandara No. 50 Col. Pena Blanca Santa Fe Deleg. Alvaro Obregon C.P. 01210 Mexico, D.F. United States Doug Nielsen Vice President of Business Development dnielsen@elcamino.com (303) 327-1532 370 Interlocken Boulevard, Suite 400 Broomfield, CO 80021
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