Siemens First Capital Commercial Finance,
LLC (Siemens First Capital), is a joint venture between
SFS
and First Capital,
a leading financial services firm headquartered in West
Palm Beach, Fla. The goal of the joint venture is to further
develop
both companies’ working capital and accounts receivable
financing businesses by offering market-leading solutions
to customers in the domestic and Asian markets. Siemens
First Capital, with offices in New York and several other
locations
in the U.S., will focus on cross-border asset-based financing
between $20 million and $200 million by managing the collections
and non-payment risk for Asian clients shipping goods into
the U.S.
About First Capital
First Capital is a leading financial services firm providing
prompt,
professional and reliable working capital solutions and
outsourcing,
primarily for middle-market companies and institutions.
With over $1
billion in total committed lines, First Capital is one
of the largest
independent and fastest-growing commercial finance companies
in the
United States. The firm focuses on senior secured lending,
accounts
receivable management, credit protection and international
supply chain
financing and servicing for clients in North America and
Asia. The firm
also manages asset portfolios for clients and is an active
issuer of
receivables-backed securities. Combining a unique blend
of traditional
and progressive banking methods, First Capital provides
clients with
customized support needed to grow and maintain their business.
Based
out of West Palm Beach, Florida, the firm has six full-service
offices
in major cities including New York, Los Angeles, Ft. Lauderdale,
Oklahoma City and Atlanta and a subsidiary that is headquartered
in Hong
Kong. For further information on First Capital: www.FirstCapital.com.
About Siemens Financial Services
With some 1,700 employees and an international network
of financial companies coordinated by Siemens Financial
Services
GmbH, Munich, the Siemens Financial Services Group
offers a broad range of financial services. This covers
activities
from sales and investment financing to treasury services,
fund management and insurance brokerage. The group's
key customers are internationally active industrial
and services
companies, as well as public-sector operators. The
group supervises 22 leasing companies worldwide. Further
information:
www.siemens.com/sfs.
Siemens Financial Services, Inc.
(SFS) is a leading provider of business-to-business
financial services
and is one
of Siemens' operating companies in the United States.
SFS
helps businesses increase productivity, improve cash
flow and acquire
the latest technology by providing customized solutions
that range from equipment financing to working capital
solutions.
With U.S. headquarters in Iselin, N.J., SFS employs
more than 250 industry experts who specialize in
tailoring solutions for thousands of premier businesses.
Further
information
on Siemens Financial Services in the United States: www.usa.siemens.com/financial. About Siemens
Siemens AG (NYSE:SI) is one of the largest global electronics
and engineering companies with reported worldwide
sales of 87.325 EUR billion in fiscal 2006. Founded
nearly
160 years
ago, the company is a leader in the areas of Medical,
Power, Automation and Control, Transportation, Information
and
Communications, Lighting, Building Technologies,
Water Technologies and Services
and Home Appliances. With its U.S. corporate headquarters
in New York City, Siemens in the USA has sales of
17.388 EUR billion and employs approximately 67,000
people
throughout all 50 states and Puerto Rico. Eleven
of Siemens' worldwide
businesses are based in the United States. With its
global headquarters in Munich, Siemens AG and its
subsidiaries employ 475,000 people in 190 countries.
For more information
on
Siemens in the United States: www.usa.siemens.com.
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