COBURG, Ore., June 6 /PRNewswire-FirstCall/ -- Monaco Coach Corporation , one of the nation's leading manufacturers of recreational vehicles, announced today the launch of Monaco Financial Services (MFS). Monaco Financial Services was jointly designed by Monaco Coach Corporation, GE Capital Solutions, and GE Consumer Finance to deliver cost effective commercial financing to Monaco's dealers and a specialized retail financing program which offers competitive rates to consumers.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991018/MONACO)
Monaco Financial Services will support all Monaco dealers and retail purchases of Monaco Coach's brands including Monaco, Holiday Rambler, Beaver, Safari, McKenzie and R-Vision. Program rollout will be immediate and available on a nationwide basis.
"We view this opportunity to leverage the resources of GE Capital Solutions and GE Consumer Finance as a major win for both our dealers and our retail motorhome and towable customers," said Kay Toolson, Chairman and CEO of Monaco Coach Corporation. "By offering retail buyers a competitive financing resource through Monaco Financial Services, and by presenting our dealers with an attractive combination of financial incentives, we believe Monaco has developed an unbeatable package for dealers in the RV marketplace.
"Monaco Financial Services in combination with our Franchise for the Future (FFTF) dealer initiative is a valuable tool that dealers can use to be more successful," Toolson added. "Our goal is to provide dealers with a variety of programs to help them focus every day on selling Monaco's product lines. In the meantime, we will continue to work hard to deliver the industry's highest quality, most innovative recreational vehicles."
Leonard Buchan, president of the RV unit for GE Capital Solutions, said: "GE has proven its flexibility and willingness to help Monaco grow its business over the years. With Monaco Financial Services, our integrated financing solutions will help Monaco sell more product to more dealerships by utilizing GE's ability to scale and administer to dealers with different needs."
"Monaco's commitment to further strengthen its dealer relationships through its FFTF program, and its vision in offering flexible consumer financing to attract more customers to the RV lifestyle will contribute to their growth," said Ed Arienti, president of RV/Marine for GE Consumer Finance's Retail Sales Finance unit. "We are extremely pleased to be selected to deliver a joint financing program that will provide outstanding benefits to Monaco's dealer body."
John Nepute, Monaco Coach President, said: "We are proud of the equity we have earned in our brands by providing the highest quality products and services in the industry, whether that is a recreational vehicle, a luxury RV resort or a MFS loan to a retail customer or our dealer partners."
Applied Structured Finance LLC acted as the exclusive financial advisor to Monaco Coach Corporation in connection with Monaco Financial Services.
About Monaco Coach
Monaco Coach Corporation is one of the nation's leading manufacturers of recreational vehicles. Headquartered in Coburg, Oregon, with substantial manufacturing facilities in Indiana, Monaco Coach Corporation employs approximately 6,000 people. Monaco Coach offers entry-level priced towable RVs up to custom made luxury recreational vehicle models under the Monaco, Holiday Rambler, Safari, Beaver, McKenzie and R-Vision brand names. Monaco Coach Corporation trades on the New York Stock Exchange under the symbol "MNC" and the Company is included in the S&P Small-Cap 600 stock index. For additional information about Monaco Coach Corporation, please visit http://www.monaco-online.com/ or http://www.trail-lite.com/.
About GE Capital Solutions
Through its Commercial Distribution Finance unit, GE Capital Solutions provides specialized financing products for various industries, including RV, furniture, marine, motorsports, electronics & appliances, manufactured housing, lawn & garden, technology, industrial products and musical instruments. Offerings include inventory financing, accounts receivable financing, asset based lending, private label financing, inventory consignment, collateral management, e-commerce services and related financial products. GE Capital Solutions provides lending, leasing and capital investment products and services to help business customers grow. It has over $90 billion in assets, serves more than 1 million clients around the world and is headquartered in Danbury, Connecticut, USA. For more on GE Capital Solutions, go to http://www.ge.com/capitalsolutions.
About GE Consumer Finance
GE Consumer Finance provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers in key industries: powersports, home improvement, outdoor equipment, automotive/recreational vehicles, consumer electronics and appliances, furniture, floor covering, jewelry, and health care. With $163 billion in assets, GE Consumer Finance, a unit of General Electric Company, is a leading provider of credit services to consumers, retailers and auto dealers in approximately 50 countries around the world. GE Consumer Finance, based in Stamford, Connecticut, offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at http://www.geconsumerfinance.com/.
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit http://www.ge.com/.
CONTACT: Craig Wanichek, Investor Relations
Monaco Coach Corporation
(541) 681-8029
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk,
