Dana Commercial Credit Corporation to Administer SYNNEX Information Technologies Inc.'s Business Leasing Program

Sep 10, 1997

    TROY, Mich., Sept. 10 /PRNewswire/ -- Dana Commercial Credit Corporation
(DCC), one of the nation's leading leasing companies and an indirect, wholly
owned subsidiary of Dana Corporation (NYSE: DCN), has entered into a program
agreement with SYNNEX Information Technologies Inc., a leading national
distributor of microcomputers, storage products, networking products,
peripherals and accessories.
    DCC is administering the SYNNEX Business Leasing program.  It will
provide turnkey microcomputer lease financing for the Fremont, Calif.-based
distributor's customer base of resellers and ComputerLand/Datago franchises in
the United States.
    The announcement was made today by J. Stephen Gagne, DCC's president
and chief operating officer.
    "We are very excited to be working with SYNNEX, one of the top five
information technology (IT) distributors in the United States," Gagne said.
"SYNNEX's broad product line strengthens our position as the preferred IT
leasing specialist."
    Gagne attributed DCC's strong field presence, ability to offer on-site
support for key SYNNEX resellers, strong inside sales force and ability to
customize lease programs for reseller customers as keys to becoming SYNNEX's
preferred lessor.
    The SYNNEX Business Leasing program will offer reseller customers a
variety of lease products and asset management software.
    "Dana Commercial Credit's experience within the computing channel in
supporting leasing programs for distributors, along with its ability to
handle transactions as small as $1,000 up to several million dollars, played
key roles in our selection," said Jerry Lumpkin, SYNNEX's vice president of
marketing, "We look forward to a long relationship."
    Computer Reseller News named SYNNEX information Technologies Inc. the
fastest-growing technical/specialty distributor in 1996.  SYNNEX has been
in the distribution channel for more than 16 years.  SYNNEX represents more
than 40 leading manufacturers in its distribution network, including IBM,
Compaq Computer, 3Com, Adaptec, Hewlett-Packard, Intel, Microsoft, NEC,
Novell, Seagate, U.S. Robotics and Western Digital.  SYNNEX expects sales
revenue of $1 billion in fiscal year 1997.  The company has achieved a
compound annual growth rate of 40 percent over the past seven years, while
maintaining profitability each year.
    SYNNEX has expanded from its west coast base to become one of the top
nationwide distribution companies with operations in Anaheim, Calif.;
Addison, Ill.; Lyndurst, N.J. and Fremont, Calif.  The company also has sales
offices in Fremont and Greenville, S.C.
    DCC provides leasing and financing services to a broad range of
business customers in selected markets.  Activities range from capital market
transactions valued up to $225 million each, to sales-aided vendor programs
with an average ticket size of $25,000 for the microcomputer industry.  DCC
has an international network of offices throughout the United States,
Canada, United Kingdom, France, Germany and Switzerland.
    DCC's Dealer Products Group, headquartered in Troy, Mich., specializes
in the development and marketing of national, private-label leasing programs,
for information technology equipment.  The company has established programs
with many of the top microcomputer manufacturers, distributors and aggregators
in the industry.
    In 1996, DCC received the Malcolm Baldrige National Quality Award from
the U.S. Department of Commerce.  The award is generally recognized as the
most prestigious award an American business can receive for performance
excellence.  In 1995, the Dealer Products Group was the sole recipient of the
Michigan Quality Leadership Award, a state-level award based on the Baldrige
    Dana Corporation is a global leader in the engineering, manufacturing
and distribution of products and systems for the vehicular, industrial and
off-highway markets.  Founded in 1904, Dana Corporation is based in Toledo,
Ohio, and operates facilities in 30 countries with 50,000 people.  In 1996,
Dana Corporation reported sales of $7.7 billion.

SOURCE Dana Commercial Credit Corporation