Textron Financial Corporation, a Textron Inc. (NYSE: TXT) company, and Forest River, Inc. announce the formation of Forest River Financial Services - Dealer Finance, a division of Forest River. This new division will serve as the wholesale inventory financing unit of Forest River Financial Services.
Textron Financial, through Forest River Financial Services – Dealer Finance, will provide Forest River dealers with dedicated lines of credit with highly competitive rates and terms. Forest River dealers will receive a high level of customer service as a result of dedicated personnel, simplified procedures and a dealer-friendly online inventory management system. Forest River Financial Services – Dealer Finance will serve all Forest River dealers and cover all Forest River RV, trailer and marine products throughout the U.S. and Canada.
“Forest River is committed to partnering with our dealers in significant ways to make them the most profitable, best managed and financially strongest dealers in our markets,” said Pete Liegl, president of Forest River. “I am excited about the potential of our relationship with Textron Financial because of their commitment to outstanding service and their ability to offer competitive rates to our entire dealer base.”
The financing program immediately available through Forest River Financial Services – Dealer Finance has been designed to dramatically and permanently reduce Forest River dealers’ floor plan interest expenses and increase dealer sales of Forest River products. Forest River dealers will receive a quarterly interest rebate check for all Forest River products financed through Forest River Financial Services – Dealer Finance that are retail sold within 90 days. Liegl added, “With this innovative program, we are providing a significant financial incentive for our dealers to do what they should already be doing – that is to buy the right products for their market, price them properly and sell them within 90 days.”
The financing program is administered within a dedicated unit of Textron Financial located in Alpharetta, Georgia. “The culture and values of our two companies are very similar, so working together to develop this exclusive relationship has been a great experience,” said Dan Radley, president of Textron Financial’s Private Brands Division.
About Forest River, Inc.
Forest River, Inc. is a leading U.S. manufacturer of recreation vehicles (RVs), utility trailers, mid-size buses, commercial vehicles and structures, pontoon boats and manufactured houses. The Company’s principal market is the United States and Canada through an independent dealer network. The Company has manufacturing facilities in Indiana, Michigan, Georgia, Texas, California and Oregon. Founded in 1996, the company is part of Berkshire Hathaway, Inc. (NYSE: BRK.A and BRK.B). More information is available at www.forestriverinc.com.
About Forest River Financial Services
Forest River Financial Services was formed in 2006 to identify and develop unique service offerings to improve the profitability and overall performance of Forest River’s dealers.
About Textron Financial Corporation
Textron Financial is a diversified commercial finance company with $10 billion in managed receivables. It has core businesses in Aviation Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc. Additional information about the company is available at www.textronfinancial.com.
About Textron Inc.
Textron Inc. is a $10 billion multi-industry company operating in 33 countries with approximately 37,000 employees. The company leverages its global network of aircraft, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, Jacobsen, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at www.textron.com.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here