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TheStreet Open House

Siemens Finances Crawler Crane With Utah’s Mountain Crane Service

The Commercial Finance Americas team of Siemens Financial Services, Inc. (SFS) has recently completed a $4.35 million financing package with Mountain Crane Service to support its acquisition of a Liebherr LR 1600-2 crawler crane. Family-owned Mountain Crane Service is Utah’s largest crane company, with a fleet of over 75 pieces of equipment.

“SFS consistently acts as our go-to financing expert, providing guidance when we need to acquire new capital equipment,” Paul Belcher, co-owner of Mountain Crane Service said. “Their support has been an invaluable resource for our team.”

“This was a significant transaction for Siemens, establishing us as one of the primary vendors for the financing of Mountain Crane Service’s equipment,” said Gary Amos, Head of the Commercial Finance Americas team at SFS. “By demonstrating SFS’ ability to successfully close the transaction, we have been able to further our relationship with both Mountain Crane Service and Liebherr.”

Mountain Crane Service will use the crane in support of newly awarded contracts with Siemens Energy, Inc.’s wind power service business. Under the contracts, the company will provide service and maintenance support for Siemens wind turbines in several states that are either under warranty or long-term service programs with Siemens.

“This transaction represents a solid collaborative effort between Siemens Energy, SFS and Liebherr to benefit our customer,” said Mr. Amos. “Our team worked directly with Siemens Energy to understand and evaluate the deal from a risk perspective. The result was a win-win for all parties involved.”

For further information on Finance solutions from Siemens in the U.S., please visit www.usa.siemens.com/finance.

Siemens Financial Services, Inc. is the U.S. arm of the global Financial Services unit of Siemens (SFS), which is an international provider of business-to-business financial solutions. SFS helps facilitate investments, providing commercial finance, project and structured finance with specific asset expertise in the energy, healthcare, industry, and infrastructure & cities markets. Employing more than 2,900 employees worldwide, SFS supports Siemens as well as other companies with their capital needs and acts as an expert manager of financial risks within the Siemens Company. By leveraging our financing expertise and our industrial know-how we create value for our customers and help them strengthen their competitiveness. Beyond that, financing is key in creating trust for technological solutions – and acts as a key enabler when it comes to the market launch. As of September 30, 2012, the total assets amounted to €17.4 billion. For more information, visit: www.siemens.com/finance.

SFS' Commercial Finance unit focuses on providing tailored financing to organizations in the public and private sector, working both direct with customers or with manufacturers and their sales channels. We have operations in 16 countries covering Europe, America and the key emerging markets such as India, China and Russia. Our products and services comprise a variety of tailored equipment financing options allowing an effective, affordable means for customers to invest in equipment and new technology.

Copyright Business Wire 2010

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