Bibby Financial Services Makes Their Move on India



    MISSISSAUGA, ONTARIO, September 17 /CNW/ - International business finance
provider Bibby Financial Services has launched a new business in India as part
of its expanding global network.

    Based in New Delhi, Bibby Financial Services India will offer Indian
business owners and managers funding against their accounts receivables,
helping them to maintain a healthy cash flow across the business and finance
growth plans. It also offers Canadian business owners who export or import
from India the ability to work with their local Bibby Financial Services
office to get working capital finance from those receivables. Bibby Financial
Services is based in Mississauga, Ontario and also has businesses throughout
the United States.

    As the tenth largest and second fastest growing major economy in the
world, India represents a major new centre for the Bibby Financial Services
Group, which, through a proactive growth strategy, now has offices in ten
countries including Canada, the United States, Ireland, France, Poland, the
Czech Republic, Slovakia, the United Kingdom and Australia.

    Chief Executive David Robertson of the Bibby Financial Services Group
comments, "It's a brave move and one which I am incredibly proud to announce.
Establishing ourselves in India represents an exciting opportunity and is no
doubt an important milestone for the Group. We have set ourselves a
challenging growth objective and in order to achieve this we are continually
looking for opportunities to move the business forward. We believe that India
represents an important territory in the sphere of global trading and as such
one that we need to be in. Its growing economy and underdeveloped factoring
market is exactly the type of market we want to be in."

    Bibby Financial Services India will be headed up by managing director
Vikas Nanda, who has more than 30 years experience in the Indian commercial
finance market, most recently with Foremost Factors.

    Vikas Nanda states, "As part of a 200-year-old, family-run business which
has helped small businesses around the globe to grow, I believe we have a
unique insight into the issues facing owners and managers and can make a real
difference for small businesses in India. With such a wave of entrepreneurial
spirit across the country, we are sure the Indian market is now ready to
capitalize on the real benefits that this funding solution can deliver."

    To find out more about Bibby Financial Service's range of flexible
finance solutions, please contact Tel: 866 50 BIBBY or visit
www.bibbycanada.ca.

    Notes to Editors

    Bibby Financial Services is wholly owned by the Bibby Line Group, a
business-to-business services group with interests in ship owning and
operation, shallow water accommodation, oil field services, contract logistics
and business finance.

    Bibby Financial Services specialises in the provision of finance to small
and medium sized enterprises across a wide range of industry sectors.
Operating via a global network of 26 autonomous operating companies in Canada,
the United States, the United Kingdom, France, India, Ireland, Poland, Czech
Republic, Slovakia and Australia the group purchased more than $6 billion
dollars of receivables and had more than 6,500 clients worldwide.

    For more information on Bibby Financial Services, visit
www.bibbycanada.ca.

    For more information on The Bibby Line Group of Companies, visit
www.bibbygroup.co.uk www.bibbytf.com www.bibbyfinancialservices.com.




For further information:

For further information: Bibby Financial Services Jennie Wills Tel: 630
493 3106 Email: jwills@bibbyusa.com www.bibbyusa.com or Joy Stewart Tel:
905-949-8300 Email: jstewart@bibbycanada.ca www.bibbycanada.ca

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