David Miller, Managing Director in charge of Financial Solutions at JCB, said: “JCB has grown rapidly in recent years to become the world’s third largest manufacturer of construction equipment. In seeking to continue this impressive growth we want to enhance the support available to customers for JCB machines by providing more innovative and comprehensive financing solutions.
 
"We also want to improve the financing support available to JCB dealers. The creation of our new JCB Finance joint venture in Europe is an important milestone, enabling us to meet these aims in a number of key markets for JCB products.”

This new joint venture will offer a full range of leasing and other retail finance programmes to create new sales opportunities for JCB machines across Europe, as well as providing flexible facilities to support dealer inventory and demonstration equipment requirements.

In 1994 the two organisations created their first joint venture dedicated to financing JCB’s French sales. Since then, cooperation between JCB and BNP Paribas Lease Group has continued to grow in Europe and, more recently, in India and North America.

The joint venture, 50.1% of which is held by BNP Paribas Lease Group and 49.9% by JCB, will initially offer finance for new and used JCB machines in France, Spain, Italy and Germany with extended services and territorial coverage planned in due course.