DGAP-News: CHG-MERIDIAN AG: CHG-MERIDIAN receives license to operate in Brazil
(firmenpresse) - DGAP-News: CHG-MERIDIAN AG / Key word(s): Regulatory
Approval/Strategic Company Decision
CHG-MERIDIAN AG: CHG-MERIDIAN receives license to operate in Brazil
04.04.2013 / 11:05
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CHG-MERIDIAN receives license to operate in Brazil
- Government banking license issued after intensive lead time
- CHG-MERIDIAN plans to exploit further opportunities for growth in South
America
- Branch in São Paulo opens with staff of nine employees
Weingarten/São Paulo, April 04, 2013
After intensive endeavors, German technology portfolio manager CHG-MERIDIAN
(headquartered in Weingarten, southern Germany) has succeeded
in obtaining a banking license for South America's biggest and
fastest-growing market, Brazil. This clears the way for the company, which
now operates in 19 countries, to add Brazilian customers to those whom it
offers its full range of technologies and associated financial services.
'The entry in the Brazilian market is an important step within our
international growth strategy, not only because of many German costumers
that increasingly push their expansion path in South America, as well as we
do', said CHG-MERIDIAN CEO Jürgen Mossakowski when the Brazilian government
confirmed that it had awarded the license. Since 2010, the company had been
preparing to enter the market.
After the approval from the central bank and the finance ministry, now
CHG-MERIDIAN received the final issuance of the license by the Brazilian
government. During that time, a team of about nine employees, headed by
Roberto Mussalem, Vice President Sales and Luiz Nali, Vice President
Finance was gradually established, and it has been instrumental in
preparing for the market launch.
Out of the branch in São Paulo, CHG-MERIDIAN's globally successful business
model will be now rolled out in Brazil: Instead of companies purchasing IT
equipment such as PCs, Notebooks or servers and then having to write them
off, technology assets are financed on the basis of fixed-term license
agreements. After a useful life appropriate to the type of technology, the
assets are then remarketed by CHG-MERIDIAN.
The company has not disclosed exact details about the volume of its capital
expenditure, but according to Jürgen Mossakowski, growth is a foregone
conclusion. 'South America is a fast-growing market that increasingly
offers opportunities for foreign investors. I am confident that we will
find our niche in this high-growth region,' said Mossakowski.
Last year, CHG-MERIDIAN pursued its strategy of international growth by
gaining a further foothold in Mexico, where its strategic measures included
the full integration of its Mexican joint venture, CHG-MERIDIAN México
S.A.P.I. de C.V, into the Group. The Mexican entity employs around 70
people.
About CHG-MERIDIAN
Large and medium-sized companies and public-sector entities in 19 countries
worldwide have entrusted CHG-MERIDIAN with their advisory, financing, and
other service needs in the field of technology portfolio management. With a
total workforce of more than 700 people - most of them employed at six
locations in Germany - the company, which is headquartered in Weingarten in
south-west Germany, has leased assets worth approximately EUR 2.5 billion
under management. What distinguishes CHG-MERIDIAN is its non-captive status
with respect to banks and manufacturers, enabling it to provide expert
independent advice and financing solutions for technology portfolio
management throughout the entire lifecycle.
Further information can be found at:
www.chg-meridian.com
Contact:
Matthias Steybe
Head of Communications und Marketing
CHG-MERIDIAN AG
Franz-Beer-Straße 111
D-88250 Weingarten
Tel. +49 751 503-248
Fax. +49 751 503-7248
Email. matthias.steybe(at)chg-meridian.de
End of financial news
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205989 04.04.2013
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Datum: 04.04.2013 - 11:05 Uhr
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