MISSISSAUGA, QC, June 13, 2011 /CNW Telbec/ - GE Capital, Commercial
Distribution Finance (CDF) today announced that it has renewed its
multi-year floor plan financing agreement with Cantrex, a buying group
of more than 1,200 independent retailers in the furniture, household
appliance, bedding, consumer electronics, photography, floor covering
and home décor sectors in Canada.
"Cantrex and GE Capital share a commitment to meet the financial needs
of our group members," said Jeannine Ghaleb, Cantrex's vice president,
corporate development and operations. "We are excited and pleased with
our renewed relationship. Together, we expect to continue to provide
innovative financing programs and superior service."
"CDF Canada is proud to extend this long-term relationship with the
largest group of independent retailers in Canada," said Peter Ringler,
president and CEO of GE Capital's CDF Canada business. "Our financing
agreement will provide Cantrex dealers with access to smart capital,
allowing them to stock the inventory they need and sell through their
members across Canada."
For 50 years, Cantrex has worked to build a powerful group of
independent retailers in the furniture, household appliance, bedding,
consumer electronics, photography, floor covering and home décor
sectors. Today, Cantrex is the largest group of its kind in Canada and
the leader in its field, with more than 1,200 retail outlets across
Canada, and offices in Montreal, Toronto and Vancouver. Since 2005,
Cantrex has been wholly owned by retail giant Sears. For more
information, visit www.cantrex.com.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided more than $30
billion in financing to 30,000 manufacturers and their distributors
across the Americas in 2010. Programs include inventory and accounts
receivable financing, asset-based lending, private label financing,
collateral management, e-commerce services and related financial
products. For more information, visit www.americas.gecapital.com or follow company news via Twitter (@GEInventoryFin).
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) is an advanced technology, services and finance company
taking on the world's toughest challenges. Dedicated to innovation in
energy, health, transportation and infrastructure, GE operates in more
than 100 countries and employs about 300,000 people worldwide. For more
information, visit the company's Web site at www.ge.com.
SOURCE GE Capital Canada
For further information:
GE Capital, Commercial Distribution Finance
GE Capital, Americas