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Maxson Automatic And National City Manufacturing Finance Announce Financing Partnership Agreement

Thursday, February 15, 2007

Press release from the issuing company

Maxson Automatic Machinery Company (Westerly RI USA) an industry innovator and manufacturer of rotary cutting and sheet handling equipment for the converting and printing industry today announced a financing partnership with National City Manufacturing Finance, a division of National City Commercial Capital (NC4). National City and Maxson Automatic will provide custom financing programs and ancillary services to the converting and printing industry. The new financing program will offer Maxson clients longer and more creative term financing options for equipment and technology. Complete bundled solutions that offer both equipment and services are included. In addition, payments are spread over the useful life of the technology to economically position monthly costs to align with monthly revenues or savings. “Traditionally, financing has been just another means to acquire equipment—with little or no value assigned to that equipment at the end of the financing term,” said Joseph Matthews, Maxson’s President. “Our partnership with National City Manufacturing Finance enables us to offer our customers a choice of financing options that has never existed before. We have now addressed not only a solution to their equipment needs but have addressed how to acquire it.” Matthews continued, “By working together with National City Manufacturing Finance, we can offer financial products that are tailored to specific capital schedules or project cash flows, as well as a variety of return, disposal or upgrade options. As a result, our customers can overcome the capital challenges they are facing as technology cycles shrink, therefore substantially lowering their overall net cost of equipment ownership.” National City Manufacturing Finance, a division of National City Commercial Capital, is solely focused on financial services for the U.S. converting, printing and packaging industries. National City Commercial Capital is a subsidiary of National City Corporation (NYSE: NCC) and is one of the largest bank-affiliated leasing companies in the country. “As a leading manufacturing service provider in the world, Maxson has an exceptional reputation for innovation and customer support,” said Bill Colwick, Senior Vice President at National City Manufacturing Finance. “We created a unique financing model that addresses the current market economics and changing budget and cash flow realities of the converting and printing industry. We are confident this program will assist Maxson with superior end-to-end solutions that include equipment, services and financing.”

 

 

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