Oce and De Lage Landen sign Private Label Vendor Lease Program Agreement
Monday, November 18, 2002
VENLO, the Netherlands, 15 November 2002—Oce and De Lage Landen (DLL) have signed a Private Label Vendor Lease Programme Agreement. Subsequent to the letter of intent signed by Oce and DLL in December 2001, the parties have reached agreement on a Private Label Vendor Lease Programme. Under this programme Oce will outsource its lease activities to DLL. The programme will be handled by the respective local DLL entities under the Oce Finance label. This private label programme will contribute to realise strategic goals set by Oce. In addition it will enable Oce to offer best in class financial services to its customers. The programme will be implemented in the United Kingdom, France, Germany, Belgium, Spain and The Netherlands. For Switzerland, Italy, Poland, Brazil and Australia a feasibility study has been scheduled. Oce's total lease portfolio amounts to about euro 1.0 billion of which euro 0.5 billion is in Europe.