MODERN GROUP LTD. AND CNH CAPITAL OFFER INNOVATIVE FINANCING SOLUTIONS
For more information please contact:
Communications (630) 887-2345
RACINE, Wis., - (March 5, 2008) - In an effort to make purchasing easier for its customers, Modern Group Ltd., based in Bristol, Pa., has entered into an agreement with CNH Capital America LLC ("CNH Capital"), the Racine, Wis.-based financial services business of agricultural and construction equipment maker CNH Global N.V., to offer the Modern Group Ltd. Preferred Card - a dedicated line of credit that Modern customers can use for parts, service and rental purchases.
"Modern works hard to understand the requirements of its customers, and to provide them with the solutions they need to succeed in business," said David E. Griffith, President and CEO of Modern Group. "With the Modern Group Ltd. Preferred Card offered by CNH Capital, we look forward to offering many payment specials that will make it easy for our customers to keep their equipment in peak working condition, with options like 90 days of no payments and no interest."
The Modern Group Ltd. Preferred Card has been designed from the ground up to help Modern's customers manage their cash flow, by allowing them to easily monitor their parts, service and rental purchases with easy-to-read monthly statements. The card also works to enhance the buying power for customers, by freeing up other credit lines for other business needs.
"CNH Capital is delighted to offer custom financing solutions to one of the nation's largest equipment distributors," says Don Pralle, Senior Director, CNH Capital Partner Programs. "We look forward to providing Modern and its customers with equipment financing strategies that support their mutual growth and success."
About CNH Capital
CNH Capital, the financial services business of CNH Global N.V. (NYSE: CNH), provides a comprehensive range of services, including wholesale and retail financing, leasing, insurance, asset management, and revolving lines of credit, for the global marketplace. Building on nearly 50 years' experience in the equipment finance industry, CNH Capital services a portfolio of more than $15 billion, helping customers through various wholly owned subsidiaries and joint ventures throughout North America, Latin America, Europe and Australia. More information about CNH Capital can be found at www.cnhcapital.com.
About Modern Group Ltd.
Modern Group Ltd., based in Bristol, Pa., is an employee-owned distributor of more than 400 lines of mobile powered products, specializing in material handling, warehouse and construction equipment. One of the nation's largest industrial distributors, Modern Group provides sales, leasing, short-term rental, service, parts, training and financing solutions to thousands of customers in the Mid-Atlantic region. Founded in 1946, Modern Group is 100% owned by more than 550 employees who work at 22 locations in Pennsylvania, New Jersey, Delaware and Maryland. More information about Modern can be found at www.moderngroup.com.