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Fleet Financing Resources, a specialty lender with a solid foundation rooted in transportation equipment financing, will be integrated into Marlin as the cornerstone of the newly formed Commercial Vehicle Group. Headed by FFR President and CEO Dave Reynolds, the entire FFR team will transition to make up the Marlin Commercial Vehicle Group, which will serve to significantly bolster direct origination capabilities.
“The acquisition of FFR, which originated more than $75 million in 2017, fits well within our vocational strategy for the transportation market by focusing on the financing of transportation equipment used by businesses,” said Marlin President and CEO Jeffrey Hilzinger. “Overall, this acquisition allows us to significantly accelerate our growth in the commercial vehicle and titled transportation markets with a proven and successful team that has significant expertise in these markets.”
“On behalf of the team at FFR, we are very pleased to now be part of Marlin,” said Reynolds. “This transaction is extremely positive for both our employees and our customers by providing a great opportunity to continue to build on our track-record of success. As part of Marlin, we believe there is a tremendous opportunity to better support our customers while significantly accelerating Marlin’s growth in the commercial vehicle and titled transportation markets. The integration will supercharge existing capabilities in the context of the larger Marlin platform backstopped by the stability of a bank. This enables us to better serve our fleet customer by offering financing/leasing packages with maximum flexibility and lending capacity.”
Visit marlinfinance.com for more information.
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“We chose this specific area in New England because we saw a lack of viable transportation options during the past several ski seasons with our family and friends. We realized this was a tremendous opportunity to bring our luxury transportation to a place that really needs it, so we jumped on it,” said Fleet Transportation Owner and President Stacey Glazier. “We intend to provide them with the same high quality customer service and stylish, comfortable vehicles that we provide our clients in the Washington D.C. area.”
As part of the grand opening of the new office in Stowe, Fleet Transportation will be offering specials for the Fall and Winter seasonal activities. Additionally, the company is offering 10% off all transportation on any vehicle type.
“We are extremely excited about moving into this beautiful area and really looking forward to becoming a contributing member to the thriving Stowe community,” said Glazier.
Toward that end, Fleet Transportation has already become a member of the Stowe Area Association and Your Vermont Wedding as well as the Lamoille Chamber of Commerce.
Visit fleettransportation.com for more information.
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The total investment adds up to approximately $500m, and more than 900 people currently work at the expanded North Charleston site, although that number is set to grow up to 1,300 by the end of 2020. According to estimations, suppliers will create an additional 600 new jobs in and around North Charleston.
"The USA is already the second largest market for our Sprinter today. With the new, state-of-the-art production site in South Carolina, we will be able to supply our customers in North America even faster and with more flexibility in the future. This makes better use of the dynamic market potential, placing our new plant in North Charleston as a central component of our growth strategy," said Volker Mornhinweg, head of Mercedes-Benz Vans.
"The new plant in North Charleston combines our global expertise and experience resulting in a state-of-the-art facility in every respect. It is a valuable asset that completes our global production network. Our priority at Mercedes-Benz Vans during the planning process for this facility was maximum flexibility. This enables us to react in an agile and anticipatory manner to current developments and customer desires. Additionally, it guarantees excellent quality within our proven, standardized production system," said Frank Klein, head of operations Mercedes-Benz Vans.
To coincide with the opening, Mercedes-Benz Vans also announced it will be producing Amazon branded Sprinter vans for the retail company's new Delivery Service Partner program at the new plant. Small business owners will work with third-party fleet management companies to procure their customized vans and get special leases in order to keep their startup costs low.
"We're proud to partner with Mercedes-Benz Vans to contribute to local economies through the order of Amazon branded Sprinter vans produced at their new plant in North Charleston," said Dave Clark, Amazon's senior vice president of worldwide operations. "Thanks to the tremendous response to Amazon's new Delivery Service Partner program, we are excited to increase our original order of branded Sprinter vans to 20,000 vehicles so new small businesses will have access to a customized fleet to power deliveries of Amazon packages."
The opening could not come at a better time—2018 marks the U.S. market launch of the new generation of the highly acclaimed van.
The third generation of the Mercedes-Benz Sprinter defines the top class of large vans in all sub-disciplines. Its classic strengths have been improved upon and are complemented by new intelligent products and services.
Among the outstanding innovations in the North American market are the new multimedia systems MBUX (Mercedes-Benz User Experience), the control and display concept in the cockpit, as well as ergonomically shaped seats and modern assistance systems - some of them were taken over by the car sector and, for the first time, found their way into a Mercedes-Benz van.
New standards are being set in the field of digitization and connectivity, which is why the new Sprinter can be described as the first van in a new category with a holistic overall system solution. The previously available version of the proven Mercedes-Benz Sprinter was in high demand among customers in the USA, the second largest market in the world for Sprinter vans.
Since 2006, Semi-Knocked-Down kits have been assembled in North Charleston for imported Sprinter vans and since 2015 also for imported Metris Midsize Vans (known in other markets as "Vito"). With the new plant and the "made in USA" vehicles, the business area will be able to serve the growing demand of North American customers more economically and significantly reduce delivery times in this market.
The new Sprinter will be made under the brands Mercedes-Benz and Freightliner.
Visit mbvans.com for more information.
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