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 criteria. 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